Copper News Hubb
Advertisement Banner
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Mining

Energy department to oversee Eskom

admin by admin
January 9, 2023
in Mining


President Cyril Ramaphosa said the energy department will take over responsibility for overseeing state utility Eskom Holdings, which has been failing to meet the nation’s power demand since 2008.

The change will be in line with a resolution adopted by the governing African National Congress at its national conference last week, which specified that state companies operating in specific economic sectors should be overseen by the relevant government departments. That could potentially signal a dissolution of the Department of Public Enterprises, which oversees Eskom, logistics company Transnet and several other entities.

“It is a clear mandate from conference,” Ramaphosa told reporters at a media event in Johannesburg on Monday. “The resolution will be implemented,” and the government will decide how and when it will be done, he said.

Eskom, which supplies more than 90% of South Africa’s electricity, has been at the epicenter of a national energy crisis, because its old and poorly maintained plants can’t generate adequate power to meet demand. It subjected the country to a record 205 days of rolling blackouts last year, which stymied economic growth and investment.

The government has already announced plans to split the nearly century-old company into three units and take over part of its debt to try and make it financially sustainable.

Public Enterprises Minister Pravin Gordhan has prioritized anti-corruption measures at Eskom and defended outgoing Chief Executive Officer Andre De Ruyter. A change in the oversight of the company may raise concerns among some investors as Gwede Mantashe, the energy minister, has opposed plans to transition the economy to green energy — even though Ramaphosa advocates doing so — and been a vocal critic of De Ruyter’s performance.

Several previous resolutions taken years ago by the ANC are still work in progress, and Ramaphosa warned that the party’s latest policy decisions will take time to implement.

“Things in government move very slowly, I have learned,” he said.
 



Source link

Previous Post

Will Stainless Steel Rust?

Next Post

Best Maple Gold assays yet widen target at old Agnico Eagle mine

Next Post

Best Maple Gold assays yet widen target at old Agnico Eagle mine

Recommended

Surging molybdenum price adds weight to new year rally for copper producers

3 weeks ago

Bellevue tracking to plan

1 month ago

Exploration begins at Bagamoyo graphite project in Tanzania

3 weeks ago

ChatGPT doesn’t know where the world’s copper comes from, AI images show mining stuck in the Great Depression

2 weeks ago

New Model Allows For balancing Rare Plant Protection, Mine Development

1 month ago

Optimize the Mining Value Chain with Integrated Power and Process

2 months ago

© 2022 Copper News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Copper news
  • Metal & Minerals Industry
  • Mining
  • Contact

© 2022 Copper News Hubb All rights reserved.