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Perseus says Ghana to implement load shedding

1st December 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Dual-listed gold miner Perseus Mining warned shareholders on Monday that its Edikan operations, in Ghana, could be affected by electricity shortages for the rest of the year.

The miner and five other international mining companies have accepted a 25% reduction in their electricity allocation from the Ghanaian national power grid, as the country struggles to meet demand.

The agreement was reached following discussions with the Energy Commission’s load shedding commission, charged with the task of reducing a material projected short-term electricity supply deficit and to rebalance the available electricity load among domestic and industrial users.

ASX- and TSX-listed Perseus said that the programme of load shedding would start on December 1, and would continue until the end of the year.

Perseus was expected to implement a number of counter measures to reduce the impact of the load shedding on the Edikan mine, including the full-time use of stand-by generators to partially offset the shortfall in grid electricity.

However, Perseus said that at this stage, the impact of the electricity supply on Edikan’s production could not be fully determined, with the company maintaining its production forecast of between 210 000 oz and 230 000 oz for 2015, while all-in costs have also been maintained at between $1 100/oz and $1 200/oz for the same period.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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