As the South African energy crisis enters its fourth day without mining, loss of production could cost the sector up to R193 million.

A meeting will be held next week with Public Enterprises Minister, Alec Erwin, to discuss the possibility of building power supply to 90 per cent to allow production to resume.

But the industry could be without sufficient power to work underground for six weeks.

Nedbank Chief Economist, Dennis Dykes, told businesstoday that forecasts for the year were down to three per cent from four per cent.

But the news has kept the price of platinum high despite firms such as Impala Platinum indicating that it was losing 3,500 oz of platinum a day.

Anglo American and Anglo Platinum both refused to reveal any production or revenue losses as a result of the crisis.

The mining sector employs about 460,000 people but indirectly supports about five million according to statistics cited by Lazarus Zim, former President of the Chamber of Mines.

Source:

Eskom costs stricken mines R193m a day, 28/01/08
http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A693070

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