Govt waves bye-bye to R500m in tax because of blackouts
Amplats could have added R1.5bn to its record R30bn earnings if it had not had electricity cuts from Eskom
Anglo American Platinum (Amplats) (https://www.sharenet.co.za/v3/quickshare.php?scode=AMS) on Monday gave an insight into the devastation Eskom is causing not just companies but the government as rolling blackouts become a fact of life.
Amplats lost 38,000oz of mined platinum group metal (PGM) production during 2019 that it will not recover. Tens of thousands more ounces of unprocessed metal stacked up in front of its smelters and refineries will be recovered during 2020 if it has enough power.
Amplats finance director Craig Williams said the company could have added R1.5bn to its record R30bn earnings if it had not had electricity interruptions from Eskom...