UPDATE 5-South African mines grind to halt as floods deepen power crisis [Yahoo! Finance News]
IMPALA PLATINUM HLDGS ADR (IMPUY)
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Source: Yahoo! Finance News
* Power crisis at state-owned Eskom damaging economy * Miners across the industry hit * Energy-intensive deep mines forced to halt production ds Petra update) By Helen Reid JOHANNESBURG, Dec 10 ) - Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country's already slowing economy. Heavy rains across parts of South Africa have submerged entire neighbourhoods, leading to evacuations and aggravating problems at state-owned utility Eskom, which has been struggling to keep the lights on since 2008. Harmony Gold, Impala Platinum and Sibanye-Stillwater all said they had been forced to cut production since Monday because of power shortages. The mining industry contributed 351 billion rand $24 billion) to the South African economy in 2018, the Minerals Council says, equating to about 7% of gross domestic product GDP). Eskom said on Tuesday that it plans m
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