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Eskom's price increase will not be gold, the platinum industry, warns the Minerals Council



The gold industry SA will be destroyed if Eskom gets green light for annual increases of 15% over the next three years, says Minerals Council SA.

Once the world's largest source of gold, the SA would land on a gold mine of 21 holding the listed companies, and production would drop to only 20 tons per year from 140 tons in 2018, executive directors said on Wednesday. The Chamber refused to name a mine.

Three quarters of platinum mines SA – the world's largest metal source – would become marginal or ineffective – compared to the current 52%.

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