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Mining Weekly reported that Kalagadi Manganese (Pty) Ltd. is asking the public for help regarding the theft of copper cable at its Hotazel mine. The theft has halted operations at the mine.
Mining Weekly reported that Kalagadi Manganese (Pty) Ltd. is asking the public for help regarding the theft of copper cable at its Hotazel mine. The theft has halted operations at the mine.
Kalagadi is a private company that is partially held by ArcelorMittal SA (NYSE:MT).
As quoted in the market news:
The incident, which took place on Monday night, caused millions of rands worth of damage to the affected infrastructure, which included damage to the transformer at the substation that supplies power to the rail line at the mine.
“The act was beyond criminality. It endangered the lives of innocent, hard-working men and women threatening their livelihoods. The incident will have a negative impact on productivity, job security and the industry at large considering that cable theft has a devastating effect on the economy, resulting in indirect costs estimated at over R5-billion a year,” said Kalagedi Manganese chairperson Daphne Mashile-Nkosi.
A case of theft and malicious damage to property was opened at the Kuruman police station and a reward of R50 000 was being offered to anyone with information that could lead to the successful prosecution of suspects.