‘Lost R125m due to load shedding’

Sibanye Gold yesterday pointed to the dark cloud cast by load shedding over its results for the six months to June, saying it strengthened the case for developing an independent photovoltaic electricity supply, as announced in February.

The company said an environmental impact study had been launched and arrangements were being made for design work to start this year, with a target date of late 2017 for the first phase of power generation.

The company said it lost R125 million in revenue in the six months because of direct production losses as a result of load shedding.