South Africa: The Electricity Crisis and Gold Prices

Gold Fields, the fourth-largest gold producer in the world, has said it expects production at its South African facilities to drop between 15 percent and 20 percent as a result of the country's ongoing electricity crisis. Two other leading South African gold producers are expected to announce production dips as well. While the situation exemplifies the importance of electricity supplies and infrastructure in developing countries, this might also be a move to control gold prices.