Tuesday, March 17, 2009

Eskom needs R100 Billion so that you can turn your lights (and the internet) on by the end of the decade

"We will need between 90-110 billion rand to be invested in coal mines by 2020." - ESKOM

NVDL: I wonder where Eskom is going to get R100 billion from? I mean, has anyone noticed that credit evaporated out of the system recently...upwards of $17.5 trillion [translating to debts of over $6000 for every US man, woman and child, and making the average Britain 40 000 pounds (about R100 000) poorer.]
clipped from www.reuters.com

Eskom says SAfrica needs 40 new coal mines by 2020

JOHANNESBURG, March 11 (Reuters) - South Africa's utility
Eskom [ESCJ.UL] said on Wednesday the country would need to
invest up to 110 billion rand ($10.52 billion) in coal mining by
2020 and build at least 40 new coal mines in that time.

State-owned Eskom said Africa's biggest economy, which is in
the grip of a power shortage, will need to produce 374 million
tonnes of coal by 2018 to meet growing demand.

"We will need 40 mines to be opened requiring a large number
of mining rights to be awarded in a short period of time ... we
will need between 90-110 billion rand to be invested in coal
mines by 2020," Eskom's coal specialist Johan Dempers told a
coal, carbon and energy conference in Johannesburg.

 blog it

No comments: