[The Jewish sons of bitches, will be losing more money. The mines, and mining is a critical thing to our dumb assed, black-run economy. Because of the growing stupidity of the country, the blacks in this country AS IN THE REST OF AFRICA … are depending ever more on selling raw materials because we can't produce things any more. And those things we were good at producing, like farming, these black communist scum, are trying to steal and destroy.
div>A good thing about this is that it might push up the value of the Gold price in the world. That's my guess. Jan]
Companies whose operations require continuous processes must make arrangements for care and maintenance.
Felix Njini, Bloomberg / 23 March 2020 22:15
Image: Naashon Zalk, Bloomberg
South Africa will close its mines for an unprecedented 21 days as part of a nationwide lockdown announced by President Cyril Ramaphosa in a race to contain the coronavirus.
The move provides a stark reminder of the severity of the developing health crisis in a nation whose economy was built on gold mining. While that industry has declined, South Africa accounts for 75% of the world’s platinum and 38% of palladium supply, and also produces minerals from gold and manganese to chrome and iron ore.
“This would be unprecedented in the history of mining in South Africa,” said Roger Baxter, the chief executive officer of the Minerals Council South Africa, the main industry group. “There were certain times when components of the industry were closed, for example during the second world war, but this is unprecedented.”
South Africa’s army will help the police to enforce the lockdown that will start midnight Thursday, Ramaphosa said in a televised address. Grocers, pharmacies, banks and filling stations will be allowed to remain open, while the Johannesburg Stock Exchange and other essential services can continue operating.
Palladium and platinum prices extended gains amid a broader rise in the precious metals basket on Monday.
“Companies whose operations require continuous processes such as furnaces, underground mine operations will be required to make arrangements for care and maintenance to avoid damage to their continuous operations,” Ramaphosa said.
Sibanye Stillwater Ltd., the world’s top platinum producer, is weighing the president’s directive, said spokesman James Wellsted. Spokespeople for Impala Platinum Holdings Ltd., and Anglo American Platinum Ltd., couldn’t immediately comment.