Gold Fields says to lose 7,000 oz/day on power cuts

JOHANNESBURG, Jan 25 (Reuters) - South Africa's Gold Fields GFIJ.J, the world's fourth biggest gold producer, expects to lose 7,000 ounces of gold a day after it halted production at all its mines due to a national power crisis.

Gold Fields said in a statement that state-owned utility Eskom [ESCJ.UL] had informed it that electricity to key industrial customers would be reduced to “survival levels” or switched off totally for the next two to four weeks.

“This will have a serious effect on the South African operations and will negatively affect our gold production,” Gold Fields said. (Reporting by James Macharia)


Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at and follow us on Twitter @Breakingviews and at All opinions expressed are those of the authors.