Energy Group Warns New Tariff Will Harm South Africa

Mineweb reported the Energy Intensive User Group of Southern Africa says a proposed tariff increase by Eskom will put more jobs at risk.

As quoted in the market news:

Nel admitted that the commodities sector would be particularly hard hit if it was unable to pass on these increases to customers.

Cost escalations, declining production and a platinum price that has reverted back to long term pricing levels has already seen two of Aquarius Platinum’s mines placed on care and maintenance as well as major cut backs in expenditure by the likes of Royal Bafokeng Platinum and Eastplats.

Click here to read the full Mineweb report.

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