Eskom Is ‘Death Knell’ for South African Mines, Exxaro CEO Warns

State-owned power producer Eskom Holdings SOC Ltd. will be the “death knell” for South Africa’s mining industry unless the government enables mines to produce their own electricity, according to Exxaro Resources Ltd. Chief Executive Officer Mxolisi Mgojo, Bloomberg News reported. “The current state of Eskom is going to be the one thing that is going to be the death knell of this industry,” Mgojo said at a conference organized by Business Unity South Africa, the country’s largest business lobby group, on Tuesday. “Without fixing Eskom we don’t have a mining industry. It is as dire as that.” Eskom is drowning in debt it can’t repay and has had to institute rolling electricity blackouts due to operational defects, weighing on growth at a time when South Africa’s economy is barely expanding. Read more