Impala Platinum loses R120m in revenue owing to load-shedding

IMPALA Platinum has lost R120m from the closure of its Rustenburg and Marula mines during power cuts, a spokesman for the platinum mining company told Reuters.

The platinum producer said on December 10 that it decided not to send employees underground as there was no guarantee from power utility, Eskom, that the power supply would not deteriorate, potentially stranding miners.

Peer group rivals Anglo American Platinum also said it had rationed power at its facilities, especially its power-hungry processing units.

The Minerals Council of South Africa confirmed that it had received a request from Eskom that it ask its members to curtain electricity usage to all but essential services.

Harmony Gold and Petra Diamonds both decided not to send staff underground at their South African mines, although operations have since resumed following a relaxation in the power load-shedding plans today.