THE NEWS FACTORY

Only the important news facts

THE NEWS FACTORY header image 2

South African gold production plummeted

March 14th, 2008 · No Comments

BRUSSELS - by energy problems 17 per cent less gold were hauled up. Rising oil price and dollar which is in free fall, is then perhaps the most important strengths behind staggeringly high gold price, there still another factor plays. The constant energy problems in south Africa gave to the gold prices the previous months duwtje in the back. From official figures which were released yesterday by the south African ministry of mines, becomes clear that in January 17procent less gold was hauled up than the year voordien. By that production purchase China put south Africa to the crown and is the country no longer the most important gold producer in the world. Also the production of platinum decreased with 16procent. In January was omitted the electricity supply suddenly entirely. The chaos in the country was complete: shops had close the doors, traffic lights in busy cities burst out, tourists in Cape Town geraakten fixed in kabelbaantjes on gone to the table mount and raging shuttle arse strike their train in fire then that it broke down. Still to be silent of the enormous inconveniences for the millions south African families which had try themselves electricity save without. The my activity in very the country was stopped because the security of the miners could become no longer assuredly. The misery for the raw material sector continued apprehend, because it by continuing flow discontinuances became too dangerous still in the south African mines descend. The energy supply by the state-owned corporation Eskom has meanwhile already improved. By the end of January became in 90 per cent of normal consumption foresees there. Today is that already 95 per cent, but the energy supply remain very tight. Especially in cities the energy supply is rationed. Large committing gets primacy at the cost of the ordinary south African who must be present at home in obscurity. Eskom decided yesterday that it are private and commercial customers will oblige their energy usage with ten per cent reduce if them that do not do voluntarily. This way the authorities hope the south African keep economy nevertheless twisting. The energy export to neighbouring countries caught in advance. Some weeks suffered makes Fields applied, on three after largest gold my company in the world, confessed that it would close some mijnschachten definitively because of the energy problems. Thereby 6,900 job would come stand on the excursion. Crazy is that south Africa produced until recently still too much electricity. A vestige of the apartheid regime which did not want be dependent. But after the economic tree further investments in more energy call centres stayed away. The government will already have blamed ten years suffered that the energy question the offer would far exceed. By discussions concerning the role which the privébedrijven in the sector had play, new blockhouses stayed away. Meanwhile Eskom start, however, with the construction of new call centres, but it lasts still even honour which will be operational. The south African government 30 per cent of the energy sector wants liberalise, today still but 5 per cent in privéhanden is. The south Africans has been in advance warned that they improve the coming five years there but to get used that it will go out slightly with the rule half-measure of the bell. That is not immediately what the foreign my giants want billiton and Rio Tinto, which is in the country active hear such as BHP. For their activities they have a guaranteed supply of energy necessary. The problem has been meanwhile stabilised, but as long as there no durable solution comes, the energy supply can be omitted again entirely. The south African energy difficulties does African countries also other realise that energy certainty is very important. In Congo for example, where foreign my giants pay themselves on the raw materials, the existing energy supplies in the long run the increasing activity no longer are able carry.

Tags: news of the world