Eskom tariff hike a threat to mining jobs – CoM

The Chamber of Mines (CoM) on Friday opposed State-owned power utility Eskom’s proposed 19.9% tariff increase application, stating that the increase would send South Africa into a vicious downward spiral of higher electricity prices, lower growth and lower electricity consumption. Presenting at the National Energy Regulator of South Africa’s (Nersa’s) hearings, in Gauteng, CoM chief economist Henk Langenhoven said Eskom would be a key contributor to a no growth economy and credit downgrades – and the mining industry would take a significant knock.