Goldplat plc obtains diesel generators to combat power cuts in South Africa

LONDON: Goldplat plc (AIM: GDP), the renowned Mining Services Group with a global presence in gold recovery, has announced the successful delivery of diesel generators to its South African facilities. The company, which provides critical services to the mining sectors of Africa and South America, has confirmed that the commissioning of these generators is on track for completion by the end of April 2024.

The third quarter of the current financial year saw Goldplat’s operations impacted by electricity supply interruptions and infrastructural challenges, resulting in a 6% loss of total operational hours. This figure, however, marks an improvement from the previous year, where over 20% of operational time was lost to similar issues.

The acquisition of the generators, which came at a cost of GBP800,000, was financed through a partnership with a local South African bank. The repayment of this investment is structured over a three-year period.

Goldplat has taken a strategic approach to the deployment of these generators, opting to utilize them only when it is economically justifiable. This decision underscores the company’s commitment to operational prudence and financial responsibility. The ongoing assessment of the generators’ economic viability ensures that they serve as a cost-effective solution to the power challenges faced by the operations.

This proactive measure by Goldplat plc is expected to significantly mitigate the risk of operational downtime due to power supply issues, thereby bolstering the company’s productivity and stability in the region.

Werner Klingenberg, CEO of Goldplat commented: “We are delighted to have received the generators on site and look forward to the finalisation of the commissioning of the generators. They will provide us with the ability to curtail the impact that electricity cuts have had on our operations as well as mitigate potential supply challenges in the future.”

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