Johannesburg - Sibanye Gold [JSE:SGL], the biggest producer of the metal in South Africa, intends to become energy-independent “over the next few years” as state utility Eskom struggles to supply the economy with enough power.
The company is considering investing in solar power and building its own coal-fired plants of 200 megawatts to 600 megawatts to reduce reliance on “inconsistent and increasingly expensive” electricity, the Westonaria, South Africa-based company said in a statement on Thursday.
The investment in solar power would cost about R3bn ($258m) and generate 150 megawatts, Sibanye said. The company’s overall demand is 500 megawatts, it said.