afrol News, 25 January - Erratic power supply have forced South Africa's biggest gold and platinum mining companies to suspend their operations.

South Africa - Africa's economic giant - is one of the world's biggest producers of gold and platinum.

However, the country has been battling with the national energy crisis, forcing the state power company Eskom to stop exporting power to the neighbouring countries. This development has taken great toll on the economy and business in general.

The companies - AngloGold Ashanti, Gold Fields and Harmony together with the world's biggest platinum miner, Anglo Platinum - took the painful decision after Eskom said it could not guarantee power supplies. Their fear evolves around miners being trapped underground.

It also follows Eskom's communication to their Key Industrial Consumers (KIC), including Gold Fields to "reduce their energy consumption to the minimum load possible."

A decision was taken to put no shifts down last night and no shifts were put down this morning. Eskom said "KIC loads will be reduced to 'survival levels' or switched out totally for the next two to four weeks."

Gold Fields said this will have a "serious effect" on its South African operations, which produce approximately 7000 ounces per day.

"We are looking at ways to continue operations and will work closely with Eskom to try and resolve this problem," said Gold Fields Chief Executive Officer, Ian Cockerill.

By staff writer

© afrol News

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