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| SA gold mines shut by power cuts | |
| (about 1 hour later) | |
| South Africa's biggest gold and platinum mining companies have suspended production because of a spate of recent power cuts. | South Africa's biggest gold and platinum mining companies have suspended production because of a spate of recent power cuts. |
| They took the drastic measure after state power company Eskom said it could not guarantee supplies, raising fears of miners being trapped underground. | They took the drastic measure after state power company Eskom said it could not guarantee supplies, raising fears of miners being trapped underground. |
| South Africa is one of the world's biggest producers of platinum and gold. | South Africa is one of the world's biggest producers of platinum and gold. |
| The power cuts are a "national emergency", according to Public Enterprises Minister Alec Erwin. | The power cuts are a "national emergency", according to Public Enterprises Minister Alec Erwin. |
| "We are viewing the next two years as being critical," he said but denied reports that the power cuts could hit South Africa's hosting of the football World Cup in 2010. | "We are viewing the next two years as being critical," he said but denied reports that the power cuts could hit South Africa's hosting of the football World Cup in 2010. |
| He said that the government must share the blame for the power cuts. | He said that the government must share the blame for the power cuts. |
| South Africa's power shortages reached their highest level on Thursday, an Eskom spokesperson said. | |
| Price rise | Price rise |
| South Africa's three biggest gold producers AngloGold Ashanti, Gold Fields and Harmony have suspended production, along with the world's biggest platinum miner, Anglo Platinum. | South Africa's three biggest gold producers AngloGold Ashanti, Gold Fields and Harmony have suspended production, along with the world's biggest platinum miner, Anglo Platinum. |
| Power is like oxygen, it's essential for any half-modern economy Goolam BallimStandard Bank Group | |
| "We are only running power for emergency supplies, such as pumping water out, and have stopped producing at all mines," AngloGold spokesman Steve Lenahan told Reuters news agency. | |
| The announcement has led to a big jump in the price of both precious metals on world markets, while shares in the four companies have slumped. | The announcement has led to a big jump in the price of both precious metals on world markets, while shares in the four companies have slumped. |
| Minerals and Energy Minister Buyelwa Sonjica said electricity rationing would be introduced as a "quick-hit" solution. | |
| Goolam Ballim, chief economist of Standard Bank Group, warned that the power cuts would reduce South Africa's economic growth. | |
| "Power is like oxygen, it's essential for any half-modern economy,'' he said, according to Bloomberg news agency. | |
| South Africa has already reduced electricity supplies to its neighbours. | South Africa has already reduced electricity supplies to its neighbours. |
| This has affected countries such as Zimbabwe, Zambia, Botswana, Mozambique and Namibia. | This has affected countries such as Zimbabwe, Zambia, Botswana, Mozambique and Namibia. |