90 000 gold and platinum jobs at risk as Eskom hikes loom

The Minerals Council South Africa is ringing alarm bells over the threat posed to employment and production in the gold and platinum sectors as a result of recently approved electricity tariff increases, including the 13.8% hike to be implemented from April 1. In addition, the council is warning that the hikes will accelerate the State-owned utility’s own downward spiral as mines and smelters, which currently consumes 30% of Eskom’s yearly production, respond by closing unprofitable operations.