Gold producer, Fools Mine, currently under care and maintenance, finds itself grappling with a myriad of obstacles hindering its return to full-scale production. The mine’s operations, characterized by its status as a low-grade producer, are significantly hampered by various factors, chief among them being exorbitant electricity costs.
Thabani Masuku, the Manager of Fools Mine, shed light on the daunting challenges confronting the mine in an interview with Mining Zimbabwe. Masuku lamented the adverse impact of steep electricity bills on the mine’s operational viability, citing them as a major impediment to resuming full production and sustaining the livelihoods of numerous families dependent on the mine’s operations.
Despite awaiting essential equipment from China to kickstart operations, Fools Mine continues to grapple with the harsh reality of soaring electricity expenses, which render its operations economically unsustainable. The mine, which typically processes an average of 250 tonnes of ore per day and employs around 100 workers, currently finds itself in a precarious situation, with 70 employees unable to work due to the prohibitive operating costs exacerbated by high electricity tariffs.
Masuku emphasized the urgent need for government intervention to alleviate the financial burden borne by small-scale miners like Fools Mine. Proposing a reduction in electricity tariffs to US$0.07 per kWh from the current US$0.14 per kWh, Masuku underscored the critical role such measures would play in bolstering the resilience of struggling mining operations against the backdrop of escalating operational costs and environmental challenges.
