BLACKROCK’S U-TURN ON CLIMATE: A Lifeline for South Africa’s Coal Sector?
The world’s biggest asset manager announced last week Thursday it will leave the $60-trillion 0Net Zero Asset Managers Initiative (NZAMI), the latest Wall Street firm to depart an environmentally focused investor group under pressure from Republican politicians and, chiefly, from the return of Donald Trump to the White House. BlackRock, which manages some $11.5 trillion,…
ARCELORMITTAL’S LOOMING DOWNFALL: A Catalyst for Change in South Africa’s Steel Industry?
The new year has begun on a bleak note for employees of ArcelorMittal South Africa (Amsa), as the steel major announced its decision to wind down its long steel business on the first Monday of 2025. This move threatens the livelihoods of approximately 3,500 direct and indirect jobs across Gauteng, Mpumalanga, and KwaZulu-Natal, with many…
South Africa Unveils $27 Billion Electric Vehicle Incentive Plan
In a landmark move towards sustainable transportation, South Africa has officially enacted a 150% tax incentive for the production of electric and hydrogen vehicles. Signed into law on January 3, 2025, the legislation is expected to unlock approximately $27 billion in investments, significantly boosting the country’s nascent electric vehicle (EV) industry. The ambitious initiative aims…
DECLINE IN GLOBAL BATTERY PRICES Set to Boost SA’s EV Market in 2025
A global decline in lithium battery pack prices, as recently announced by BloombergNEF, could make electric vehicles (EVs) more affordable in emerging markets like South Africa. Despite struggling to attract investment from battery mega factories, South Africa is poised for a significant shift towards clean mobility. With over 13 million internal combustion engine (ICE) vehicles…
SYRAH SHARES PLUNGE 30% AFTER FORCE MAJEURE at Balama Graphite Mine in Mozambique
Australia’s Syrah Resources saw its stock plummet by approximately 30% on Thursday after the company declared a force majeure at its Balama graphite mine due to escalating civil unrest in Mozambique following contested election results. Syrah Resources stands out as the largest graphite producer outside of China, offering one of the few non-Chinese sources of…
Trump Vows to Unlock ‘Magna Carta’ Bottleneck for $1 Billion Projects”
President-elect Donald Trump has announced a plan to expedite federal permits for energy projects and other construction initiatives exceeding $1 billion. This promise, made via a post on his Truth Social platform, includes assurances that any entity investing this amount in the United States will receive “fully expedited approvals and permits, including, but not limited…
MERIDIAN ECONOMICS REPORT: Battery Energy Storage Key to Cost Savings for South African Companies
A groundbreaking study by Meridian Economics reveals that battery energy storage can be a game-changer for South African businesses, unlocking significant cost savings and a more sustainable energy future. This report, published on the first week of December 2024, highlights the financial viability of investing in behind-the-meter batteries, emphasising their potential to reduce energy costs…
IEA REPORT OUTLINES $2.3 TRILLION INVESTMENT Needed for Africa’s Energy Transition
Meeting Africa’s escalating energy demands necessitates a significant increase in investment in clean energy projects, alongside urgent measures to overcome financial obstacles, according to a recent report by the International Energy Agency (IEA). The report, titled Clean Energy Investment for Development in Africa, emphasises the immediate investment priorities and financing strategies essential to transform these…
SAUDI ARABIA EXPANDS MINING Footprint in Africa with Potential Zambia Investment
Following its recent acquisition of a 10% stake in Vale’s copper and nickel division, Saudi Arabia’s Public Investment Fund (PIF) is advancing discussions to secure a significant investment in Zambian copper mines. Manara Minerals, a joint venture between PIF and the Saudi Arabian Mining Company (Ma’aden), is negotiating to acquire a 15-20% equity stake in…
RIO TINTO Reports Fatality at SimFer port
Rio Tinto confirmed the death of a contracting company employee at the SimFer port site in Guinea, with the global multinational extending condolences and support to those affected after the incident on the Simandou project in Morebaya, Guinea, on Saturday. In a statement released Monday, Rio Tinto Chief Executive Jakob Stausholm said: “Our deepest condolences…
