Platinum industry losses to Eskom electricity disruptions mount to nearly R2bn in the first quarter according to the world's two leading miners of the metal.
Platinum industry losses to Eskom electricity disruptions mount to nearly R2bn in the first quarter according to the world’s two leading miners of the metalImpala Platinum, the world’s second-largest miner of the metal, reckons it lost R250m in revenue to electricity blackouts in the first three months of 2019.
Noting that Implats had refined most of the concentrate it produced during the March quarter, Implats group executive in charge of corporate affairs Johan Theron said there was still a sizeable knock to revenue from power disruptions from state-owned power utility Eskom. Eskom posed a “significant risk to future production if persistent supply disruptions continue as can be seen by the impact on our peers,” he said.
World number one platinum miner Anglo American Platinum said on Thursday it was unable to process 18,000oz of platinum group metals at its concentrators, and a further 74,000oz of PGMs at is smelters.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Eskom `Is Not on the Brink of Financial Collapse,’ Gordhan SaysSouth Africa’s state-owned power utility “isn’t on the brink of financial collapse” and the government has the problem “well under control,” Public Enterprises Minister Pravin Gordhan said.
Read more »
Eskom could have defaulted this month - finance ministrySouth Africa’s finance ministry authorised the transfer of R5 billion to struggling state power firm Eskom on 2 April 'to avert a default by Eskom on its obligations,' according to a finance ministry report to parliament seen by Reuters.
Read more »
Government forced to give Eskom emergency bailoutEskom is operating much closer to the edge than most investors realise, says Intellidex's Peter Attard Montalto
Read more »
Govt brings forward Eskom bailout to avert default - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa's government has had to bring forward the bailout of state power firm Eskom, after it rushed 5 billion rand to the struggling utility earlier in April to avert a default and said more cash could be needed soon.
Read more »
Eskom received emergency bailout in early AprilFinance minister Tito Mboweni says that Eskom would need further assistance by the end of April.
Read more »
Eskom received emergency bailout in early April | IOL NewsParliamentary documents came to light showing Eskom received an emergency bailout through National Treasury, and will need ...
Read more »
More money for ailing EskomEnergy experts say the bailout is insufficient to make Eskom financially sustainable in the long term.
Read more »
Govt brings forward Eskom bailout to avert defaultThe fact that the first tranche of the bailout had to be brought forward highlights the precariousness of Eskom’s financial position.
Read more »
More money for ailing EskomEnergy experts say the bailout is insufficient to make Eskom financially sustainable in the long term.
Read more »
Government forced to give Eskom emergency bailoutEskom is operating much closer to the edge than most investors realise, says Intellidex's Peter Attard Montalto
Read more »
DA’s Alf Lees says Eskom is on the brink of collapseThe DA MP says Eskom’s money problems are worsening each day and the government's turnaround strategy for the power utility is not working.
Read more »