Power struggle erupts over future of Kimberley diamond mine
A court battle intended to save hundreds of jobs at Kimberley’s Ekapa diamond mine has triggered a new crisis, with provisional liquidators warning that its underground workings could begin flooding within 48 hours if Eskom disconnects the electricity supply.
Liquidators raise alarm The joint provisional liquidators dispute the viability of the rescue plan, arguing that the proposed focus on surface tailings would require the mine to spend more on electricity costs at its processing plant than would be generated in revenue.
Numsa’s Northern Cape representative Andile Zitho told Moneyweb he found it curious that the warnings of renewed flooding emerged after the Northern Cape High Court placed the mine under business rescue, halting the liquidators’ planned asset auctions.
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