If Eskom goes ahead with its unreasonable tariff increases as it plans, the South Africa’s economy will be destroyed. The struggling economy that has the country currently on shaky legs can be forced into the abyss with unreasonable tariff increases.
The gold industry will be destroyed if Eskom gets the green light for a 15% increase over the next three years, which means a 45% increase over the period.
The Mineral Council of South Africa has issued the warning after Eskom has asked it to adjust its tariffs by 15% each year for the next three years to maintain its pathetic and rotten management style.
South Africa is one of the largest gold suppliers in the world, and of the existing 21 gold mines in the country, only one will probably remain if the tariffs are approved.
The loss of jobs, which can rise to as much as 1600, along with the loss of gold production, will cause the economy to tumble to a second Zimbabwe.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
