Eskom backtracks on mine deal

**McSack** · 31-01-2008 05:27 PM

Linky

Johannesburg - Eskom has told Gold Fields, the world's fourth-largest gold producer, that it may not increase its electricity consumption to 90% of regular consumption and instead stick to 80%, which puts more of its shafts at risk.

Wonder how they managed to piss Eishkom off

Interesting bit here though:

old Fields has said that with reduced power supplies, the shut down on Friday and the holidays during the three-month period to end-March, South African production would be down 20 to 25%, which translates to 164 250oz of lost output at the upper end of the estimate.

The lost ounces are worth more than R1bn at current gold prices.

Yup... no impact on the economy that I can see

**Ricard** · 31-01-2008 05:29 PM

you missed this part..

Eskom told the mining sector on Tuesday power usage could be increased to 90% from Thursday evening, clearing the way to resume production, which was halted on 25 January when the monopolistic power utility declared force majeure on its power supply.

They are YET to resume production!!!! 7 days of no gold from them now! That is gonna hurt.