With a possible recession looming, Bill Gates is preparing to raise a new fund for Breakthrough Energy Ventures (BEV) to back innovative climate start-ups, on the heels of two billion-dollar funds that have together helped finance roughly 100 companies. “Even as the ebullience in investing in tech and climate companies is down a bit, I…
Bloomberg reports that Zimbabwe Minister of Finance has called on mining companies in the country to pay royalties in cash and commodities. Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its…
The ongoing turmoil in global financial markets is a symptom of global developments driven by three main mega-trends: climate change, technological advancements and an increase in geopolitical tension. These issues are fundamentally transforming the business environment. While it may be too early to announce “de-globalization”, manufacturing players are fundamentally rethinking their business agendas and global…
Rio Tinto this week announced it will join the First Movers Coalition, a global initiative to help commercialise zero-carbon technologies by harnessing purchasing power and supply chains. More than 50 companies with a collective market value of about $8.5 trillion across five continents now make up the coalition to create early markets for innovative clean…
Global challenges amplified by the COVID-19 pandemic have made Environmental, Social and Governance (ESG) issues even more pressing for policymakers, boards and executives. To promote alignment among existing ESG frameworks, the World Economic Forum, with Partners including Deloitte, EY, KPMG and PwC, has identified a set of universal metrics and disclosures – the Stakeholder Capitalism Metrics. During the Sustainable Development Impact Meetings…
Mining and Energy Minister Gwede Mantashe says the Mpumalanga towns of Ermelo, Middleburg, Witbank, Hendrina and those within range of the coal-fired power stations would perish if the power stations were to be switched off. Addressing investors at the Limpopo Provincial Mining, Energy & Industrialisation 2022 Investment Conference on Thursday morning, Mantashe told delegates that…
South African petrochemical major Sasol SOLJ.J will announce partnerships over the next few weeks with local mining companies to supply green hydrogen for their mining operations, a senior company executive said on Wednesday. A major part of the South African government’s aim to cut climate-warming gas emissions is tied to the private sector’s use of green hydrogen…
Anglo American Platinum announced the launch of a new employee share ownership plan (“ESOP”), envisaged to be implemented during Q4 2022. The ESOP will see employees receiving Anglo American Platinum listed shares to the value of R8,000 each per year, in addition to participation in the evergreen ownership of 2% of Rustenburg Platinum Mines (“RPM”),…
Australian-listed Invictus Energy Ltd IVZ.AX has started drilling one of two exploration wells for oil and gas in the northern part of Zimbabwe, Reuters reported on Monday. The 3.5 kilometre (2.17 miles) deep well, situated in the Muzarabani-Mbire area, is part of the Cabora Bassa project in Zimbabwe, which is 80% owned and operated by Invictus through…
Barely a week after the oversight committee of the Parliament Portfolio Committee on Minerals and Energy had departed, the Free State town of Jagersfontein received yet another deluge on Tuesday night from the collapsing walls of Jagersfontein tailings. Whilst the collapse did not occur in the sleepy hours of the morning, roads were reportedly immediately…
