It was mentioned in the conference call the other day.
The mechanics of the policy are described below, which I assume still applies. Obviously the government can only subsidise it so much but they have to balance it with people rioting in the streets when they raise prices.
"Fuel prices are determined by an interdepartmental committee including a representative of SONABHY. Prices are set on a monthly basis. Fuel prices differ across the country due to transportation costs (which makes fuels a bit more expensive in the provinces)."
As for the impact on costs, the power plant uses heavy fuel oil mainly, which is cheaper but I don't believe is subsidised in the same way. Underground ounces are inherently less diesel intensive too because of the high grade. The increased gold price would be more than offsetting the cost impact of higher fuel prices for now.
WAF Price at posting:
$1.07 Sentiment: Buy Disclosure: Held
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