https://newsletter.en.creamermedia.com
Energy|Gold|Mining|Platinum|Power|Water
Energy|Gold|Mining|Platinum|Power|Water
energy|gold|mining|platinum|power|water

Zimbabwe says mines can pay for power in foreign currency to secure supply

31st May 2019

By: Reuters

  

Font size: - +

VICTORIA FALLS, Zimbabwe – Zimbabwe mining companies can pay for electricity in foreign currency to guarantee supplies, the energy minister said on Friday, a day after he indicated there could be deeper power cuts in the country due to low dam water levels.

Fortune Chasi said on Thursday the country's largest hydroelectric plant, Kariba Dam, will suspend output in 14 weeks if water levels continue to fall at the current rate.

State utility Zimbabwe Electricity Transmission and Distribution Company (ZETDC) this month announced the worst rolling power cuts in three years, and although mines have been spared so far, analysts say the cuts will hurt economic revival efforts.

"Exporting mining firms can also enter into foreign currency payments arrangements with ZETDC on a back-to-back arrangement with regional utilities to enable the utility to secure more imports," he told mining executives at an annual meeting of the Chamber of Mines in Victoria Falls.

Power imports are cushioning platinum mining companies against the electricity cuts but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials have said.

Zimbabwe produces 1 100 MW of electricity a day against demand of 1 500 MW.

Demand is expected to increase during the winter peak period, adding to the pressure on the grid.

Edited by Reuters

Comments

Projects

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.174 0.276s - 207pq - 2rq
Subscribe Now