Police took several people in custody during last week, when they were discovered with illegal substances. A copper-thief was also arrested amidst other offenders when he was caught with approximately R1000 worth of stolen copper.
The man was allegedly arrested on Thursday February 12 in Mandela Street in the Central Business District (CBD). Police officials patrolling the CBD area discovered the man with the copper and took him into custody.
According to the South African Chamber of Commerce and Industry (SACCI) the ‘Copper Theft Barometer’ level had decreased last year in November with 1.51% lower than the previous month. With that said however, copper theft has increased since 2013 and was 36.8% higher in November 2014.
The international average monthly spot price of copper had also decreased in December last year – the price linked to other international commodities like oil, which has lost almost 50% of its value over the course of 2014.
The weakening of the rand exchange keeps the US dollar denominated and copper still attractive despite the weakening of the commodity price in international markets.
SACCI hopes that this year, the South African Business Community, in partnership with the Police, will force a significant reduction in copper theft.
