Fin24

Copper worth R259m stolen in 2010

2011-03-30 16:17

Johannesburg - Copper valued at R259m was stolen during 2010, the SA Chamber of Commerce and Industry (Sacci) said on Wednesday.

"The annual total cost as measured by the barometer for 2010 was R259m," Sacci said in a statement on its Non-Ferrous Metals (Copper) Theft Barometer.

This was followed by a spike in January 2011 to R20.5m and a return in February 2011 to the level of R16.5m.

The barometer reflects the experiences of Transnet, Telkom [JSE:TKG], and Eskom on a current and projected basis and covers the six months preceding the date of the release.

The indicator shows replacement costs but not indirect costs such as security to protect infrastructure.

Comments
  • Iceman - 2011-03-30 17:00

    heres the solution to copper theft: all companies manufacturing/exporting copper products or material to be audited as follows: the source of all purchases/exports must verified by independent agents/ Sars officials and records kept. No exports allowed without certificates of verification. No marketing licences for goods unless purchase sources verified. All sources to be verified. end of story

      Steve Wonderboy - 2011-03-30 17:21

      Brilliant plan, but would require political will and execution. Two things this country lacks.

  • PilgrimX - 2011-03-30 17:12

    How much did the government earn from this amount through sales tax. The stolen coper does have to be sold to someone, not so?

  • Cameron Briceland - 2011-03-31 11:04

    Earth to the SAPS and the public at large..the scrap merchants are in the thick of all the copper theft..they are buying up all the stolen copper. I suggest Eskom look into this matter or maybe its the affirmative action Eskom management who are coordinating the thefts by tipping off their unemployed criminal relatives where the copper is easiest to steal..If I thought of this , then so have the management and someone else and if no-one has thought of this then I must be a genuis.

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