From Fin24.co.zn, a report on the consequences of economic growth outstripping power generation.
Johannesburg – The “nightmare” of all South Africa’s major gold and platinum mines shutting down, because of power cuts, became true on Friday.
“Tens of millions of rands a day are being lost. It’s a nightmare,” said T-sec chief economist Mike Schussler.
The JSE gold mining sub-sector closed almost 6% lower on Friday.
Chris Hart, Investment Solution economist, said mining was a key industry for the country.
“From that point of view the (power) cuts seem… almost a disaster. ”
Same thing could happen in the United States, seems to us. Of course, many of the folks who oppose realistic steps to increase domestic power generation would also welcome the end of the U.S. mining sector.
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