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Photo of the Week

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

ESKOM ECHOES

9th February 2024 There are slight echoes of South Africa’s Eskom in Taiwan, where the precarious financial state of the country’s sole electricity utility, Taipower, is threatening the island’s clean energy ambitions, and potentially undermining its status as a leading chip manufacturing hub. Bloomberg reports... 

ESKOM ECHOES

AI & ELECTIONS

2nd February 2024 s many countries, including South Africa and a highly divided US, prepare for elections in 2024, there is concern that Artificial Intelligence (AI) tools could be used to spread disinformation. Ahead of the recent Republican primary in New Hampshire a ‘deepfake’ audio message purporting to be US... 

AI & ELECTIONS: As many countries, including South Africa and a highly divided US, prepare for elections in 2024, there is concern that Artificial Intelligence (AI) tools could be used to spread disinformation. Ahead of the recent Republican primary in New Hampshire a ‘deepfake’ audio message purporting to be US President Joe Biden urged voters to “Save your vote for the November elections”, even though voting in a primary cannot preclude a voter participating in the presidential elections. While obviously fake, it heightened fears that AI-powered video and image generators could well be used for political gain this year. Photograph: Bloomberg

SHIPPING RISKS

26th January 2024 Recent hostilities in the Red Sea have added to the risks that global shippers will have to navigate in 2024. Reuters reports that they also face the prospect of significant disruptions from other conflicts, including any possible further souring of China-Taiwan relations, as well as droughts... 

SHIPPING RISKS: Recent hostilities in the Red Sea have added to the risks that global shippers will have to navigate in 2024. Reuters reports that they also face the prospect of significant disruptions from other conflicts, including any possible further souring of China-Taiwan relations, as well as droughts affecting key routes such as the Panama Canal. Should these risks increase or materialise, there could be delays that raise costs for retailers globally. Photograph: Reuters

TEA TO CHINA

19th January 2024 China has lowered duties on South Africa’s rooibos tea to 6% from a range of 15% to 30%, the Department of Trade, Industry and Competition reported earlier this month. The industry produces approximately 20 000 t of the herbal tea every year and provides employment to 5 000 people. China is the... 

TEA TO CHINA

LOOMING CHALLENGE

15th December 2023 Coal-dependent South Africa needs to more than double climate financing to achieve its emissions reduction targets, a Presidential Climate Commission paper states. Current yearly average funding of R131-billion needs to be boosted to R334-billion rand for the country to meet its net zero goal by... 

LOOMING CHALLENGE: Coal-dependent South Africa needs to more than double climate financing to achieve its emissions reduction targets, a Presidential Climate Commission paper states. Current yearly average funding of R131-billion needs to be boosted to R334-billion for the country to meet its net-zero goal by 2050, the paper states.

IMPLEMENTATION PLAN

8th December 2023 South Africa finally published its implementation plan for the Just Energy Transition Investment Plan ahead of COP28 and amid news of fresh funding flows arising from the now expanded $9.3-billion partnership with various developed countries. The document outlines an $80-billion, five-year... 

IMPLEMENTATION PLAN: South Africa finally published its implementation plan for the Just Energy Transition Investment Plan ahead of COP28 and amid news of fresh funding flows arising from the now expanded $9.3-billion partnership with various developed countries. The document outlines an $80-billion, five-year investment plan aimed at stimulating a transition from the economy’s current over-reliance on coal. With the detail out, the devil now resides firmly in actual implementation. Photograph: Bloomberg

PRICE RISE

1st December 2023 In late November, uranium prices topped $80 a pound for the first time in more than 15 years. Bloomberg reports that prices have rallied during 2023, after more than a decade of moving sideways, amid interest in nuclear and numerous production challenges. While spot uranium (picture here in the... 

PRICE RISE: In late November, uranium prices topped $80 a pound for the first time in more than 15 years. Bloomberg reports that prices have rallied during 2023, after more than a decade of moving sideways, amid interest in nuclear and numerous production challenges. While spot uranium (picture here in the form of a yellowcake concentrate) is a thinly traded market, the term price — which is more important for power plants — has also been trending higher. Photograph: Bloomberg

ELECTRIC EXPANSION

24th November 2023 Hyundai hosted a ground-breaking ceremony earlier this month for a $1.5-billion investment into a new electric vehicle plant in South Korea, which will be capable of producing 200 000 cars a year. The plant will be in Ulsan, where the company built its first auto plant in 1968. Bloomberg reports... 

ELECTRIC EXPANSION: Hyundai hosted a ground-breaking ceremony earlier this month for a $1.5-billion investment into a new electric vehicle plant in South Korea, which will be capable of producing 200 000 cars a year. The plant will be in Ulsan, where the company built its first auto plant in 1968. Bloomberg reports that work will begin later this year and mass production will start in the first quarter of 2026, with the luxury Genesis large-size sport utility vehicle the first model to roll off the assembly line. Photograph: Bloomberg

RISING EMISSIONS

17th November 2023 Greenhouse gas emissions from the world’s top meat and dairy producers increased further this year, Bloomberg reports. Disclosed emissions from the world’s 20 largest listed meat and dairy companies rose 3.3% from 2022 levels, according to a report by investor network FAIRR Initiative. The food... 

RISING EMISSIONS: Greenhouse gas emissions from the world’s top meat and dairy producers increased further this year, Bloomberg reports. Disclosed emissions from the world’s 20 largest listed meat and dairy companies rose 3.3% from 2022 levels, according to a report by investor network FAIRR Initiative. The food industry’s climate footprint accounts for about one-third of global greenhouse gases. Livestock, which releases potent methane, makes up 14.5% of worldwide emissions. Photograph: Bloomberg

SINKING FEELING

10th November 2023 South Africans responded with a mix of anger and resignation as the country’s other large and failing State-owned enterprise, Transnet, move to secure taxpayer support for its turnaround plan only months after Eskom was granted a R254-billion debt-relief package. The Transnet leadership have... 

SINKING FEELING: South Africans responded with a mix of anger and resignation as the country’s other large and failing State-owned enterprise, Transnet, move to secure taxpayer support for its turnaround plan only months after Eskom was granted a R254-billion debt-relief package. The Transnet leadership have warned that absent an injection and debt relief the recovery plan will fail. The plan does open the door for more private sector participation in the ailing ports and rail systems, however. Photograph: Bloomberg

CRITICAL EXPANSION

By: Creamer Media Reporter      3rd November 2023 CRITICAL EXPANSION: While South Africa continues to work on its critical minerals strategy, Australia has announced a $2-billion expansion in financing in a bid to solidify its position as a leading producer of critical minerals, including lithium (pictured). Prime Minister Anthony Albanese and... 

CRITICAL EXPANSION: While South Africa continues to work on its critical minerals strategy, Australia has announced a $2-billion expansion in financing in a bid to solidify its position as a leading producer of critical minerals, including lithium (pictured). Prime Minister Anthony Albanese and Resources Minister Madeleine King announced the expansion on October 25, surrounded by Australian and US industry leaders and following the inaugural meeting of the Australia-US Taskforce on Critical Minerals. Photograph: Bloomberg

CARBON REPORTING

27th October 2023 China’s environment ministry has told factories releasing the equivalent of more than 26 000 t/y of carbon dioxide to verify their 2022 data by December. Bloomberg reports that the ministry is centralising a reporting process that was previously handled locally to help exporters meet the... 

CARBON REPORTING: China’s Environment Ministry has told factories releasing the equivalent of more than 26 000 t/y of carbon dioxide to verify their 2022 data by December. Bloomberg reports that the Ministry is centralising a reporting process that was previously handled locally to help exporters meet the requirements of the European Union’s Carbon Border Adjustment Mechanism (CBAM), which began data collection this month and formally launches in 2026. The aluminium, cement and steel industries covered in the first phase of the CBAM will need to complete their data verification by September from 2024.

PUBLIC GOOD

20th October 2023 The Public Investment Corporation says it will increase its investment in renewable energy, with chief investment officer Kabelo Rikhotso revealing that its current exposure already stands at R16.5-billion. The State-owned fund manager, which oversees about R2.6-trillion rand in assets, has... 



PUBLIC GOOD: The Public Investment Corporation says it will increase its investment in renewable energy, with chief investment officer Kabelo Rikhotso revealing that its current exposure already stands at R16.5-billion. The State-owned fund manager, which oversees about R2.6-trillion rand in assets, has renewable investments that have contributed more than 2 000 MW to the grid through solar photovoltaic, concentrated solar power and wind technology. Photograph: Bloomberg

HYDROGEN SHOWCASE

13th October 2023 Sasol, Toyota South Africa Motors and Air Products South Africa unveiled a proof-of-concept second-generation Toyota Mirai fuel cell electric vehicle earlier this month. The vehicle is being used to showcase the potential for domestic green hydrogen as a zero-emission transport alternative.... 

HYDROGEN SHOWCASE: Sasol, Toyota South Africa Motors and Air Products South Africa unveiled a proof-of-concept second-generation Toyota Mirai fuel cell electric vehicle earlier this month. The vehicle is being used to showcase the potential for domestic green hydrogen as a zero-emission transport alternative. Pictured here is Air Products South Africa’s Lutendo Mammburu, an electrical engineerwho is also currently responsible for the group’s refuelling technology. Photograph: Creamer Media Chief Photographer Donna Slater.

REFORM VS RENEWAL

6th October 2023 As South Africa prepares to host a forum on the Africa Growth and Opportunity Act (Agoa) in November, concern that the country could be disqualified from the preferential trade arrangement seems to have ebbed somewhat. However, given the diplomatic tensions and America’s extreme political... 

REFORM VS RENEWAL: As South Africa prepares to host a forum on the Africa Growth and Opportunity Act (Agoa) in November, concern that the country could be disqualified from the preferential trade arrangement seems to have ebbed somewhat. However, given the diplomatic tensions and America’s extreme political divisions, renewal remains uncertain. What is clear is that America wants to make changes to the scheme, with US Trade Representative Katherine Tai arguing that the world is “really different” from when Agoa was enacted in 2000. “We’re on a timeline - you’ve got to reform, you’ve got to update while the world is changing,” Tai said at an event in Washington last month. Photograph: Bloomberg

THROUGH THE HAZE

29th September 2023 While the aviation industry has promised to achieve net zero carbon emissions by 2050, harsher weather conditions are already forcing a rethink of critical infrastructure in airports, such as this Arizona airport pictured during a recent protracted heat wave. Bloomberg reports that airports... 

THROUGH THE HAZE: While the aviation industry has promised to achieve net zero carbon emissions by 2050, harsher weather conditions are already forcing a rethink of critical infrastructure in airports, such as this Arizona airport pictured during a recent protracted heat wave. Bloomberg reports that airports around the world are relocating sensitive electrical equipment to rooftops to protect it from flooding, reinforcing runways to handle extreme temperature swings and revving up air conditioning as climate change complicates operations. Photograph: Bloomberg

HIGHER GRADE

22nd September 2023 The Mbombela-based Manganese Metal Company’s manganese refinery, built in 1974 to beneficiate manganese minerals mined in South Africa’s Hotazel’s region, produces two high-grade (99.9% pure), selenium-free manganese products, including flakes (seen here) and powder. Manganese is a key mineral... 

HIGHER GRADE: The Mbombela-based Manganese Metal Company’s manganese refinery, built in 1974 to beneficiate manganese minerals mined in South Africa’s Hotazel’s region, produces two high-grade (99.9% pure), selenium-free manganese products, including flakes (seen here) and powder. Manganese is a key mineral used in lithium-ion batteries, steel, specialty alloys and even aluminium beverage cans, among others. The refinery – the only one of its kind outside of China which produces the highest-quality of refined manganese globally – is eyeing significant expansion, with intentions to add a brownfields 5000 t/y plant to the existing28000 t/y electrolytic manganese metal plant, which will target demand stemming from the expanding global battery electric vehicle market. Photograph: Creamer Media Chief Photographer Donna Slater

GIVE & TAKE

15th September 2023 South Africa will provide fiscal support to the automotive industry to help it transition to electric vehicles, Deputy Finance Minister David Masondo confirmed earlier this month. But given the stretched fiscus the “only way to justify the government’s fiscal support to the sector is through... 

GIVE & TAKE

NO CREDIT

8th September 2023 Several major carbon traders are finding that offsets they bought may now be valueless, Bloomberg reports. A carbon credit is a paper security representing one ton of carbon dioxide reduced or removed from the atmosphere, generated by projects like wind farms or planting trees and preventing... 

NO CREDIT: Several major carbon traders are finding that offsets they bought may now be valueless, Bloomberg reports. A carbon credit is a paper security representing one ton of carbon dioxide reduced or removed from the atmosphere, generated by projects like wind farms or planting trees and preventing deforestation, such as is the case with the Gabon forests pictured. Recently Trafigura Group, which is the world’s largest trader of carbon-removal credits, suspended a consignment as it awaited the results of a probe into the forestry project behind the units. It’s reportedly the latest in a string of cases in which traders handling carbon credits are having to treat such assets as stranded. Photograph: Bloomberg

SUNRISE INDUSTRY

1st September 2023 A study commissioned by the Localisation Support Fund has found that there is local manufacturing capability for powerline components to meet current low levels of demand. However, to avoid an overreliance on imported products when this demand increases in line with Eskom’s grid roll-out plan,... 

SUNRISE INDUSTRY: A study commissioned by the Localisation Support Fund has found that there is local manufacturing capability for powerline components to meet current low levels of demand. However, to avoid an overreliance on imported products when this demand increases in line with Eskom’s grid roll-out plan, local manufacturers require support and workload certainty. Once established, the potential of supplying products to neighbouring countries and the rest of Africa could become a viable expansion strategy. Photograph: Bloomberg
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