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/ 26 January 2008

Mines wake to power ‘nightmare’

The ”nightmare” of South Africa’s major gold, platinum and diamond mines shutting down because of power failures became a reality on Friday. ”Tens of millions of rands a day are being lost. It’s a nightmare,” said T-sec chief economist Mike Schussler. The JSE gold mining sub-sector closed almost 6% lower on Friday. The move contributed to the gold price rising.