A surge in copper prices could result in greater economic losses and prolonged pressure on the electricity supply, with the risk of criminal syndicates ramping up operations.
Cable theft has caused South Africa’s economy to lose billions of rands and exacerbated the country’s energy crisis. With global copper prices soaring, criminal syndicates may be motivated to increase their theft operations, threatening to increase these losses even higher.
Electric vehicles also contribute to the demand for copper, using about 83kg per vehicle, compared to 23kg in traditional cars. Research conducted by University College London and published in the Journal of Research in Crime and Delinquency indicated a significant positive correlation between lagged increases in copper price and copper cable theft.
This estimation was based on examining the economic toll on Eskom, PRASA, Transnet and the reduced productivity of the mining industry.the total cost of copper theft could exceed 1% of GDP annuallyelectricity supply The ongoing threat of cable theft exacerbates the country’s energy crisis, undermining efforts to provide reliable electricity and hindering economic growth and development.
The purpose of the ban is to remove the market for stolen goods and decrease the price enough to discourage theft.
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