Drip, drip effect of Eskom only likely to get worse for miners, says Gold Fields CEO

Nick Holland, CEO, Gold Fields. Pic: Martin Rhodes

THERE was more bad news to come from Eskom in terms of the reliability of its electricity supply, said Gold Fields CEO, Nick Holland, who said industry was being “drip-fed news”.

“Eskom’s problems will not be solved soon; we are being drip-fed bad news and I think there’s more coming,” said Holland last week following the presentation of the group’s full year results presentation.

The performance of Eskom was critical to the continued recovery of Gold Fields’ South Deep, a mine west of Johannesburg that generated cash for the first time in years during the group’s 2019 financial year following a restructuring costing 1,500 jobs.

For full article, visit Energymx.