The platinum industry lost nearly R2bn in the first quarter due to Eskom's electricity disruptions
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.
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