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Photo of the Week

HIGH ANXIETY

1st November 2024 While millions of Americans have already voted either in-person or through mail-in ballots ahead of the November 5 Presidential elections, there is still no indication of who will win. The margin between former President Donald Trump and Vice President Kamala Harris is razor-thin. Anxiety levels... →

HIGH ANXIETY: While millions of Americans have already voted either in-person or through mail-in ballots ahead of the November 5 Presidential elections, there is still no indication of who will win. The margin between former President Donald Trump and Vice President Kamala Harris is razor-thin. Anxiety levels are high both inside the country and across the world given the potential implications for the future of democracy, as well as economic and trade relations. Photograph: Bloomberg

INDIA GOES FOR GRID

25th October 2024 South Africa’s lack of grid investment is well documented, but it is by no means alone in needing to catch up. This month, the Indian government unveiled a plan to revamp its power grid to accommodate a large renewable expansion through 2032. The project, estimated to cost $109-billion, will help... →

INDIA GOES FOR GRID: South Africa’s lack of grid investment is well documented, but it is by no means alone in needing to catch up. This month, the Indian government unveiled a plan to revamp its power grid to accommodate a large renewables expansion through 2032. The project, estimated to cost $109-billion, will help integrate 500 GW of renewables by the end of the decade.

HAND OVER

18th October 2024 The National Transmission Company South Africa (NTCSA), which began trading on July 1, was officially launched on October 7. The entity is currently a subsidiary of Eskom Holdings, but will become a fully independent transmission system operator in the coming years. To symbolise the hand-over of... →

HAND OVER: The National Transmission Company South Africa (NTCSA), which began trading on July 1, was officially launched on October 7. The entity is currently a subsidiary of Eskom Holdings, but will become a fully independent transmission system operator in the coming years. To symbolise the hand-over of grid responsibilities from Eskom to the NTCSA a statue of a handshake was commissioned and unveiled at a ceremony attended by (from left to right) Electricity and Energy Minister Dr Kgosientsho Ramokgopa, NTCSA chair Priscillah Mabelane, interim NTCSA CEO Segomoco Scheppers and Eskom Group CEO Dan Marokane.
HAND OVER: The National Transmission Company South Africa (NTCSA), which began trading on July 1, was officially launched on October 7. The entity is currently a subsidiary of Eskom Holdings, but will become a fully independent transmission system operator in the coming years. To symbolise the hand-over of grid responsibilities from Eskom to the NTCSA a statue of a handshake was commissioned and unveiled at a ceremony attended by (from left to right) Electricity and Energy Minister Dr Kgosientsho Ramokgopa, NTCSA chair Priscillah Mabelane, interim NTCSA CEO Segomoco Scheppers and Eskom Group CEO Dan Marokane.

ELECTRO-ECONOMY

11th October 2024 China’s embrace of electric vehicles, wind, solar power and now green hydrogen are seen as increasingly important to the success of global efforts to tackle climate change. A new report by the Centre for Research on Energy and Clean Air suggest the country’s carbon dioxide emissions may have... →

ELECTRO-ECONOMY: China’s embrace of electric vehicles, wind, solar power and now green hydrogen are seen as increasingly important to the success of global efforts to tackle climate change. A new report by the Centre for Research on Energy and Clean Air suggest the country’s carbon dioxide emissions may have peaked a half-decade ahead of schedule. It also indicates that China could cut emissions by at least 30% by 2035 by continuing with policies to clean its power, mobility and steelmaking sectors. Photograph: Bloomberg

GREENER CEMENT

4th October 2024 Two of the world’s biggest cement producers, Holcim and CRH, have announced a $75-million investment into Sublime Systems, of the US, which has developed an electrochemical method of cement production that avoids the process of heating up limestone with kilns powered by fossil fuels. In tests at... →

GREENER CEMENT: Two of the world’s biggest cement producers, Holcim and CRH, have announced a $75-million investment into Sublime Systems, of the US, which has developed an electrochemical method of cement production that avoids the process of heating up limestone with kilns powered by fossil fuels. In tests at its 250-ton-per-year pilot plant, Sublime has been able to demonstrate a 90% reduction in carbon emissions when compared with the traditional process. Photograph: Bloomberg

CAUTIOUS MOOD

27th September 2024 Recent volatility in the iron-ore price, which sank below $90/t for the first time since 2022 earlier this month, reflects concern about the steel crisis in China. But there is also a more cautious mood about the outlook for growth more generally, weighed down by political uncertainty in the US.... →

CAUTIOUS MOOD: Recent volatility in the iron-ore price, which sank below $90/t for the first time since 2022 earlier this month, reflects concern about the steel crisis in China. But there is also a more cautious mood about the outlook for growth more generally, weighed down by political uncertainty in the US. However, steel-buying typically recovers after the Northern Hemisphere’s summer months, which could provide some respite. Photograph: Bloomberg

CARBON COMPLIANCE

20th September 2024 China plans to impose carbon-trading compliance obligations on steel, aluminium, and cement producers next year as the country extends its carbon market beyond power utilities. About 1 500 companies in those industries will be subject to market-based carbon costs if their emissions overshoot... →

CARBON COMPLIANCE: China plans to impose carbon-trading compliance obligations on steel, aluminium, and cement producers next year as the country extends its carbon market beyond power utilities. About 1 500 companies in those industries will be subject to market-based carbon costs if their emissions overshoot government-set targets. Photograph: Bloomberg

MINING VIBES

13th September 2024 MINING VIBES: More than 950 exhibitors participated in the 2024 edition of the Electra Mining Africa exhibition, the highest number in the 52-year history of the biennial event. The showcase, which was held at the Johannesburg Expo Centre, alongside Soccer City, was hosted by Specialised... →

More than 950 exhibitors participated in the 2024 edition of the Electra Mining Africa exhibition, the highest number in the 52-year history of the biennial event. The showcase, which was held at the Johannesburg Expo Centre, alongside Soccer City, was hosted by Specialised Exhibitions across six giant halls, as well as outside exhibit areas.

WATER UTILITY

6th September 2024 Legislation has been approved opening the way for a new agency to develop and manage South Africa’s water infrastructure and attract financing for new projects. The Presidency says the State-owned National Water Resources Infrastructure Agency will enable the country to expand bulk water... →

WATER UTILITY: Legislation has been approved opening the way for a new agency to develop and manage South Africa’s water infrastructure and attract financing for new projects. The Presidency says the State-owned National Water Resources Infrastructure Agency will enable the country to expand bulk water infrastructure and improve the management of existing assets to ensure water security. Photograph: Bloomberg

TUG CHRISTENING

30th August 2024 A bottle of bubbly being smashed against the side of the Sepelong, one of five new tugboats christened at a ceremony held at the Port of Durban earlier this month. The vessels form part of Transnet National Port Authority’s (TNPA’s) R1-billion marine fleet renewal programme, which has raised the... →

TUG CHRISTENING: A bottle of bubbly being smashed against the side of the Sepelong, one of five new tugboats christened at a ceremony held at the Port of Durban earlier this month. The vessels form part of Transnet National Port Authority’s (TNPA’s) R1-billion marine fleet renewal programme, which has raised the number of tugboats at the Port of Durban to 14 in a fleet of 38 across eight commercial seaports. Photograph: TNPA

CROP FAILURE

23rd August 2024 Southern Africa’s El Niño-induced drought will mean that the region will need to import at least an additional three-million tons of maize in the coming months, the Famine Early Warning Systems Network has warned. Maize farmers from Angola to Zambia and Mozambique suffered the worst dry spell in... →

CROP FAILURE: Southern Africa’s El Niño-induced drought will mean that the region will need to import at least an additional three-million tons of maize in the coming months, the Famine Early Warning Systems Network has warned. Maize farmers from Angola to Zambia and Mozambique suffered the worst dry spell in more than a century during the middle of the growing season earlier this year. Photograph: Bloomberg

CARBON SHADOW

16th August 2024 A new Rockefeller Foundation report warns that the world’s 72 most energy-poor nations, of which 44 are in Africa, will need to deploy 8 700 terawatt-hours of clean energy production yearly, or twice the US’s current generation, to develop and grow. But to avoid accounting for three quarters of... →

CARBON SHADOW: A new Rockefeller Foundation report warns that the world’s 72 most energy-poor nations, of which 44 are in Africa, will need to deploy 8 700 terawatt-hours of clean energy production yearly, or twice the US’s current generation, to develop and grow. But to avoid accounting for three quarters of emissions by 2050, the ‘Green Power Gap’ report also argues that they need to be given assistance to build these renewable-energy facilities.

CONTIGUOUS COPPER

9th August 2024 Following is failed attempt to take over Anglo American in a deal primarily driven by copper, BHP has announced a joint venture with Lundin Mining to buy copper miner Filo. Besides each taking a 50% stake in the Filo del Sol copper project, in Chile, BHP will also acquire half of Lundin’s... →

CONTIGUOUS COPPER: Following is failed attempt to take over Anglo American in a deal primarily driven by copper, BHP has announced a joint venture with Lundin Mining to buy copper miner Filo. Besides each taking a 50% stake in the Filo del Sol copper project, in Chile, BHP will also acquire half of Lundin’s Josemaria project, just over the border in Argentina. The intention now is to combine the projects to cut costs. Photograph: Bloomberg
Photo by Bloomberg
CONTIGUOUS COPPER: Following is failed attempt to take over Anglo American in a deal primarily driven by copper, BHP has announced a joint venture with Lundin Mining to buy copper miner Filo. Besides each taking a 50% stake in the Filo del Sol copper project, in Chile, BHP will also acquire half of Lundin’s Josemaria project, just over the border in Argentina. The intention now is to combine the projects to cut costs. Photograph: Bloomberg

COPPER RECOVERY

2nd August 2024 Zambia’s yearly copper production will grow more than 40% to 1 million tons in 2027, the country’s Finance Ministry has reported. Zambia’s copper output hit a 14-year low of 698 566 t in 2023 as its mining sector faced tax changes and clashes with the previous government. Africa’s second-largest... →

COPPER RECOVERY: Zambia’s yearly copper production will grow more than 40% to 1 million tons in 2027, the country’s Finance Ministry has reported. Zambia’s copper output hit a 14-year low of 698 566 t in 2023 as its mining sector faced tax changes and clashes with the previous government. Africa’s second-largest copper producer is seeking to take advantage of strong demand underpinned by the global energy transition. Photograph: Bloomberg

HYDROGEN EXPORTS

26th July 2024 Germany’s H2Global has agreed to import green ammonia, produced from green hydrogen, from Egypt in a bid to accelerate Europe’s energy transition. H2Global will buy at least 259 000 t of the carrier for hydrogen in the period from 2027 to 2033, from a production site in Egypt owned by the UAE’s... →

HYDROGEN EXPORTS: Germany’s H2Global has agreed to import green ammonia, produced from green hydrogen, from Egypt in a bid to accelerate Europe’s energy transition. H2Global will buy at least 259 000 t of the carrier for hydrogen in the period from 2027 to 2033, from a production site in Egypt owned by the UAE’s Fertiglobe. It will then sell it at cheaper prices to companies in Europe through the support provided by H2Global to offset the difference between the buying and the selling price. Photograph: Bloomberg

PLANTATION AUTOMATION

19th July 2024 This drone monitoring the oil palm fruits as they ripen is one of several technological solutions being deployed across Malaysian plantations that are seeking alternatives for some of the most difficult jobs, amid worker shortages and falling production. Bloomberg reports that self-driving trucks... →

PLANTATION AUTOMATION: This drone monitoring the oil palm fruits as they ripen is one of several technological solutions being deployed across Malaysian plantations that are seeking alternatives for some of the most difficult jobs, amid worker shortages and falling production. Bloomberg reports that self-driving trucks are also rumbling over the vast plantations, laying fertiliser and picking up the densely packed harvested bunches. Photograph: Bloomberg

MORE LITHIUM

12th July 2024 Four new Argentinian lithium projects are set to enter production in the coming months, which will almost double the country’s production capacity. Built on salt lakes nestled in the Andes mountains in South America’s so-called lithium triangle, Bloomberg notes that the extra production comes... →

MORE LITHIUM: Four new Argentinian lithium projects are set to enter production in the coming months, which will almost double the country’s production capacity. Built on salt lakes nestled in the Andes mountains in South America’s so-called lithium triangle, Bloomberg notes that the extra production comes when buyers are already well supplied and prices are under pressure. Photograph: Bloomberg.

SUPPLY UNCERTAINTY

5th July 2024 The global market for liquefied natural (LNG) gas faces supply uncertainty from factors including sanctions on Russian fuel, aging plants and attacks on vessels in the Red Sea, the International Gas Union warns. Gas has become an increasingly global commodity, with Europe leaning heavily on LNG... →

SUPPLY UNCERTAINTY: The global market for liquefied natural gas (LNG) faces supply uncertainty from factors including sanctions on Russian fuel, aging plants and attacks on vessels in the Red Sea, the International Gas Union warns. Gas has become an increasingly global commodity, with Europe leaning heavily on LNG to help fill the gap after Russia cut most pipeline supplies. At the same time, Asian demand has surged, leaving the market more susceptible to supply disruptions.

LINES AUCTIONS

28th June 2024 The head of the Independent Power Producer Office, which oversees the public procurement of renewable energy, believes it is feasible to set up a similar agency to facilitate private investment in transmission infrastructure (see also page 14) . “It’s not going to be a cut and paste into the... →

LINES AUCTIONS: The head of South Africa's Independent Power Producer Office, which oversees the public procurement of renewable energy, believes it is feasible to set up a similar agency to facilitate private investment in transmission infrastructure (see also page 14) . “It’s not going to be a cut and paste into the transmission space,” Bernard Magoro stressed at a recent conference, noting that different companies with the requisite skills would need to be encouraged to bid. Photograph: Bloomberg

EXPORT SHIFT

21st June 2024 Volkswagen South Africa (VWSA) is sceptical about South Africa’s plans to produce electric vehicles for export to developed markets and is instead focusing on sustaining outlets for its internal combustion engine vehicles, notably the Polo, seen here being assembled at its Kariega plant. VWSA MD... →

EXPORT SHIFT: Volkswagen South Africa (VWSA) is sceptical about South Africa’s plans to produce electric vehicles for export to developed markets and is instead focusing on sustaining outlets for its internal combustion engine vehicles, notably the Polo, seen here being assembled at its Kariega plant. VWSA MD Martina Biene is quoted by Bloomberg as saying that Europe “won’t call on us to make battery electric vehicles” as there is enough capacity on the continent where transport costs are lower. Photograph: Bloomberg

FUNDING APPETITE

14th June 2024 The Asian Infrastructure Investment Bank (AIIB), which is headquartered in Beijing, plans to invest $1-billion in projects across Africa, where only 4% of the $52-billion it has financed since its inception eight years ago has been directed. AIIB president Jin Liqun reports it has a pipeline of... →

FUNDING APPETITE: The Asian Infrastructure Investment Bank (AIIB), which is headquartered in Beijing, plans to invest $1-billion in projects across Africa, where only 4% of the $52-billion it has financed since its inception eight years ago has been directed. AIIB president Jin Liqun reports it has a pipeline of seven projects in Africa, which it is seeking to build further, while there is also interest from African members to issue Panda bonds. Photograph: Bloomberg

GRID AUCTIONS

7th June 2024 An office to manage auctions of independent transmission projects could be set up at a leading South African development finance institution. Bloomberg reports that the Development Bank of Southern Africa is aiming to establish the office to bring in private funding into the deployment for the... →

GRID AUCTIONS: An office to manage auctions of independent transmission projects could be set up at a leading South African development finance institution. Bloomberg reports that the Development Bank of Southern Africa is aiming to establish the office to bring in private funding into the deployment for the grid so as to help connect renewable generation to a network that needs to be expanded urgently to meet demand. Photograph: Bloomberg

GOLDEN AGE

31st May 2024 The gold price is extremely sensitive to global developments and to newsflow, and the strong upward momentum in the price of the precious metal during 2024 has been underpinned by geopolitical uncertainty. This month, gold surged to an all-time dollar high, and with persistent inflation, economic... →

GOLDEN AGE: The gold price is extremely sensitive to global developments and to newsflow, and the strong upward momentum in the price of the precious metal during 2024 has been underpinned by geopolitical uncertainty. This month, gold surged to an all-time dollar high, and with persistent inflation, economic pressures and central bank interest, supportive factors appear to remain in place.

SUBSIDY REINSTATED

24th May 2024 The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola Tinubu halted the subsidy at in mid-2023 to help government repair its finances. However, the removal... →

SUBSIDY REINSTATED: The International Monetary Fund (IMF) estimates that the reintroduction of a gasoline subsidy in Nigeria could consume almost half of the country’s projected oil revenue this year. President Bola Tinubu halted the subsidy at in mid-2023 to help government repair its finances. However, the removal and a devaluation of the naira, led fuel prices to more than triple, fanning inflation and protests. The IMF said it expects the fuel subsidy to be phased out within two years, as a cash-transfer programme was implemented to cushion poor consumers. Photograph: Bloomberg

COPPER LEVERAGE

17th May 2024 A revamped minerals-for-infrastructure deal between the Democratic Republic of Congo (DRC) and China’s Sicomines is contingent on the price of copper. Under the new contract, DRC will get $324-million yearly for infrastructure projects from its Chinese partners through to 2040 as long as the... →

COPPER LEVERAGE: A revamped minerals-for-infrastructure deal between the Democratic Republic of Congo (DRC) and China’s Sicomines is contingent on the price of copper. Under the new contract, DRC will get $324-million yearly for infrastructure projects from its Chinese partners through to 2040 as long as the copper price remains above $8000/t. If copper rises above $12000/t, 30% of the additional profit will go to financing more infrastructure. If it falls below $8 000, funding will diminish and stop altogether at $5,200/t. Photograph: Bloomberg

COPPER IN FOCUS

10th May 2024 There is a long way to go and there is much uncertainty, but the $39-billion bid by BHP for Anglo American certainly underlines the growing importance of copper not only to the mining majors but also a world economy undergoing an energy transition. If successful, the deal, which would exclude... →

COPPER IN FOCUS: There is a long way to go and there is much uncertainty, but the $39-billion bid by BHP for Anglo American certainly underlines the growing importance of copper not only to the mining majors but also a world economy undergoing an energy transition. If successful, the deal, which would exclude Anglo’s South African iron-ore and platinum assets, would create the world's biggest miner of copper, seen being produced here at Anglo’s Quellaveco mine in Peru. Photograph: Reuters

LOGISTICS CRUNCH

3rd May 2024 Kumba Iron Ore reported a 10% fall in first quarter sales due to port equipment challenges. The Anglo American company reduced production by 2% to 9.3-million tons in line with its strategy to match output to available logistics capacity. Ore taken to port by Transnet Freight Rail was flat at... →

LOGISTICS CRUNCH: Kumba Iron Ore reported a 10% fall in first quarter sales due to port equipment challenges. The Anglo American company reduced production by 2% to 9.3-million tons in line with its strategy to match output to available logistics capacity. Ore taken to port by Transnet Freight Rail was flat at 9.4-million tons, but sales declined to 8.5-million tons because of problems at the Port of Saldanha. Photograph: Reuters

WEIGHING OPTIONS

By: Creamer Media Reporter      26th April 2024 Eskom and government are considering private and foreign options to fund a R390-billion expansion of the electricity grid as more renewable generation comes online. Bloomberg reports that talks are under way on the funding of South Africa’s transmission requirements, including the potential use... →

WEIGHING OPTIONS: Eskom and government are considering private and foreign options to fund a R390-billion expansion of the electricity grid as more renewable generation comes online. Bloomberg reports that talks are under way on the funding of South Africa’s transmission requirements, including the potential use of money pledged by rich nations toward an energy transition and another option to tap private sources. Photograph: Bloomberg

REMEMBERING

19th April 2024 Rwandan President Paul Kagame and First Lady Jeanette Kagame, preparing to light the Rwandan genocide flame of hope, known as the ‘Kwibuka’ (Remembering), to commemorate the 1994 Genocide at the Kigali Genocide Memorial Centre in Kigali, Rwanda, on April 7. Thirty years ago more than one-million... →

REMEMBERING: Rwandan President Paul Kagame and First Lady Jeanette Kagame, preparing to light the Rwandan genocide flame of hope, known as the ‘Kwibuka’ (Remembering), to commemorate the 1994 Genocide at the Kigali Genocide Memorial Centre in Kigali, Rwanda, on April 7. Thirty years ago more than one-million people were systematically massacred over 100 days by extremists, led by the Rwandan army and a militia known as the Interahamwe. Photograph: Reuters

GREEN LETTER DAY

12th April 2024 Deutsche Post’s last night flights transporting mail between northern and southern Germany took place in the early hours of March 28, ending a near 63-year airmail service that had operated since September 1961. The shift to road will result an 80% fall in carbon dioxide emissions on affected... →

GREEN LETTER DAY: Deutsche Post’s last night flights transporting mail between northern and southern Germany took place in the early hours of March 28, ending a near 63-year airmail service that had operated since September 1961. The shift to road will result an 80% fall in carbon dioxide emissions on affected routes. The move is being facilitated by legislative reforms allowing the company to deliver 95% of domestic mail within three working days, instead of the previous stipulation that 80% of letters be delivered on the next working day.

COPPER CONTENDER

5th April 2024 The Democratic Republic of Congo (DRC) overtook Peru as the world's second largest copper producer in 2023, Reuters reports, while noting that it still lagged the South American country in exports. The DRC produced 2.84-million tons last year, the country's central bank reported, against Peru's... →

COPPER CONTENDER: The Democratic Republic of Congo (DRC) overtook Peru as the world's second largest copper producer in 2023, Reuters reports, while noting that it still lagged the South American country in exports. The DRC produced 2.84-million tons last year, the country's central bank reported, against Peru's output of 2.76 million tons. Chile remains the top producer of the red metal.
Photo by Reuters
COPPER CONTENDER: The Democratic Republic of Congo (DRC) overtook Peru as the world's second largest copper producer in 2023, Reuters reports, while noting that it still lagged the South American country in exports. The DRC produced 2.84-million tons last year, the country's central bank reported, against Peru's output of 2.76 million tons. Chile remains the top producer of the red metal.

CRITICAL CONTINENT

29th March 2024 The US is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia's influence over the market for other minerals, US Deputy Treasury Secretary Wally Adeyemo told Reuters during a recent visit to a platinum mine in Marikana, owned by Sibanye-Stillwater. Adeyemo... →

CRITICAL CONTINENT: The US is looking to Africa to help loosen a Chinese stranglehold on battery metals and reduce Russia's influence over the market for other minerals, US Deputy Treasury Secretary Wally Adeyemo told Reuters during a recent visit to a platinum mine in Marikana, owned by Sibanye-Stillwater. Adeyemo (right) with Sibanye Stillwater CEO Neal Froneman during his visit to a platinum mine where he said: “Africa is going to play a huge role. A lot of critical minerals are located here.” Photograph: Siphiwe Sibeko for Reuters.

DISAPPOINTING DEMAND

22nd March 2024 The iron-ore price has come under pressure in recent weeks after disappointing demand in China left the market with high inventory levels. Bloomberg reports that Chinese construction activity remains lackluster, squeezing a vital source of steel demand, while Beijing has also refrained from... →

DISAPPOINTING DEMAND: The iron-ore price has come under pressure in recent weeks after disappointing demand in China left the market with high inventory levels. Bloomberg reports that Chinese construction activity remains lackluster, squeezing a vital source of steel demand, while Beijing has also refrained from deploying the type of massive infrastructure stimulus that it has used in the past. Photograph: Bloomberg

FOOD CRISIS

15th March 2024 The International Monetary Fund is urging the Nigerian government to urgently address growing food insecurity, amid surging food-price inflation and a steep hike in interest rates, implemented by the central bank in a bid to stabilise a rapid weakening naira. “With about 8% of Nigerians deemed... →

The International Monetary Fund is urging the Nigerian government to urgently address growing food insecurity, amid surging food-price inflation and a steep hike in interest rates, implemented by the central bank in a bid to stabilise a rapid weakening naira. “With about 8% of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority,” the IMF said in a statement earlier this month. Photograph: Bloomberg

NO CARBON CRUNCH

By: Terence Creamer     8th March 2024 The Presidency has expressed confidence that South Africa will meet its greenhouse gas emission reduction targets even if it keeps some coal-fired plants, such as the one pictured here, open beyond their current decommissioning dates. “It’s not about stopping decommissioning,” Rudi Dicks, head of... →

NO CARBON CRUNCH: The Presidency has expressed confidence that South Africa will meet its greenhouse gas emission reduction targets even if it keeps some coal-fired plants, such as the one pictured here, open beyond their current decommissioning dates. “It’s not about stopping decommissioning,” Rudi Dicks, head of the project management office in the Presidency, said last month. “It’s about delaying decommissioning until we have sufficient generating capacity and reserve margins.” Photograph: Bloomberg

HYDROGEN SHOWCASE

1st March 2024 Luxury carmaker BMW has unveiled its BMW iX5 in South Africa, with the aim of showcasing the vehicle’s combined long range and short refuelling times. The BMW iX5‘s 6 kg of hydrogen allows for a 500 km range, with the car’s platinum-based fuel cell using green hydrogen produced by Sasol to... →

HYDROGEN SHOWCASE: Luxury carmaker BMW has unveiled its BMW iX5 in South Africa, with the aim of showcasing the vehicle’s combined long range and short refuelling times. The BMW iX5‘s 6 kg of hydrogen allows for a 500 km range, with the car’s platinum-based fuel cell using green hydrogen produced by Sasol to produce the clean electricity that powers the quiet drive train. BMW has also installed hydrogen refuelling infrastructure at its Midrand campus in Johannesburg.

CURRENCY CRUNCH

23rd February 2024 Zimbabwe may back its currency with gold to end exchange-rate instability, Finance Minister Mthuli Ncube announced earlier this month. “In order to manage growth of liquidity, we may link the exchange rate to a hard asset such as gold,” Ncube said in an online press briefing a week after... →

CURRENCY CRUNCH: Zimbabwe may back its currency with gold to end exchange-rate instability, Finance Minister Mthuli Ncube announced earlier this month. “In order to manage growth of liquidity, we may link the exchange rate to a hard asset such as gold,” Ncube said in an online press briefing a week after President Emmerson Mnangagwa signalled that a revamp of the world’s worst-performing currency was under consideration. At the time of the announcement, the Zimbabwe dollar had slumped almost 50% against the US dollar this year after plunging 90% in 2023.

COLLATERAL DAMAGE

16th February 2024 Egypt’s Suez Canal revenue plunged by almost half in January after attacks by Houthi militants on Red Sea vessels forced major shipping firms to avoid the waterway. Income was about $428-million last month compared with $804-million for the same period in 2023, Suez Canal Authority chief Osama... →

COLLATERAL DAMAGE
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Editorial Insight

Ongoing adaptation

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Eskom Holdings chair Mteto Nyati, NTCSA chair Priscillah Mabelane and Electricity and Energy Minister Kgosientsho Ramokgopa joins hand in front of a new ceremonial statue displaying a handshake, unveiled during the official launch of NTCSA on October 7

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INFLATION TARGET

INFLATION TARGET: South Africa’s official inflation-target band is 3% to 6%, but South African Reserve Bank governor Lesetja Kganyago has made it clear for some time now that his target is actually the mid-point. In a recent speech, Kganyago acknowledged concern about the employment and growth costs of pursuing a lower target. However, he went on to quote studies indicating that there had been “little or no cost to getting inflation to 4.5%”, the takeaway being that he has no intention of applying the brakes while he is behind the monetary-policy wheel.

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Andrew Hardie

Andrew Hardie, CEO of Pay@

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Africa Power PROJECT Energy Eskom System Solar Cement Systems Iron Ore Steel Aluminium Electra Mining Mining Infrastructure Projects Resources SECURITY Water Marine Transnet generation Renewable Energy Renewable-Energy Copper Automation Trucks Gas LNG Export  ...    more
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