South32 and Eskom are determined that Hillside should avoid the fate of Mozal, which was wound down in March this year after failing to agree on a new long-term electricity tariff. From Moneyweb.
South32 is in discussion with Eskom over a new long-term electricity solution for its Hillside aluminium smelter in Richards Bay – five years before the existing power supply agreement expires in 2031.
The Australian-headquartered mining group is determined to avoid the fate of its other key smelter in the region, Mozal in Mozambique, which was placed in care and maintenance in March this year after failing to secure sufficient power at an affordable price, despite negotiating for six years with Eskom and the Mozambican government. Continue reading.
