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mines shut?

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SimonPB
Valued Contributor
I have not confirmed this, or even the source so maybe fists of salt needed? Certainly no SENS as yet..

25 January 2008 - 09:55:05 Gold Fields stops SA operations on lack of power Johannesburg, Jan 25 South Africa's second-largest gold miner Gold Fields (GFI) stopped production at all its local mines at the start of night shift on Thursday, saying there wasn't enough energy to carry on, spokesperson Willie Jacobsz said on Friday "We stopped operations in all our mines at the beginning of a night shift late yesterday because there is no power," said Jacobsz. Asked what was happening at the company's mines at this stage, Jacobsz said "Nothing", adding that: "As far as I know all South African mine operations and smelters have halted operations." Eskom's nationwide load shedding to reduce demand has frustrated businesses and individuals, and is set to continue for between five and eight years
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10 REPLIES 10
Not applicable
Ionly saw that all the gold shares are getting hammered, see my post lower down. Now I know why, this will keep our market down today while other markets are jumping.
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Not applicable
Kloof western area's moved no rock last night and only pumps men left behide for maintenance , no news as to when they would start up again.
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Tango
Super Contributor
Hi Simon.. still lurking over there I see? Good. Here's a moneyweb article about it - http://www.moneyweb.co.za/mw/view/mw/en/page1329?oid=188175&sn=Detail
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I came to my screen just now and couldn't understand why the Gold Instruments were tanking when the Price of Au was touching $920US. This must surely be applicable to all mining, iron and platinum included. I think another issue is the weather in Gauteng? One cannot burn wet coal?
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well now our little power problem has affected the whole world with the gold spiking... and its all thanks to our current deputy president who at the time was the minister of energy who gave the thumbs down to plans for new plants... whats the bet she gets promoted to president for her efforts...
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Major
Regular Contributor
I believe it's not just goldfields - harmony and anglogold also affected, together with some of the platinum shafts.
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CHATTYCHAT
Super Contributor
However: my info says she proposed development, but was turned down because other infra development was in focus at the time...
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Not applicable
Yep, it was her, when she was still the Minister back in 1998/9. Anyway we cannot cry over opportunity lost as that won't help. My question to those people who thought it was a good idea to Privatise some of South Africa's Electricity Capacity - how the heck were Private Companies going to stand a chance against Eskom, which was at the time producing the cheapest Electricity in the world. A case of don't fix what was not really broken.
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JohnnyCash
Super Contributor
its on the sens from gfi and har
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