Economist Henk Lagenhoven says mining companies will be faced with two major obstacles on Wednesday – Eskom’s Stage 3 loadshedding and the Congress of South African Trade Unions (Cosatu) nationwide strike against job losses.
Eskom’s loadshedding will resume at 8am and end at 11pm.
The power utility says it has a shortage of capacity because a number of generating units are out of service due to breakdowns.
Meanwhile, Cosatu has called on all workers to join the strike.
Lagenhoven says mining companies will feel the impact of the two actions because they are already running at a loss.
“That is a very great concern, because you’re not only losing a day but it impacts right through into the demand and profitability and the sales and that is very concerning. A lot of our gold mines are not profitable. These sorts of actions don’t help,” adds Lagenhoven.
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