Industrial Development Corporation of South Africa Limited (IDC) has bought 8.445% of the entire stake in MCA Metals Holding Gmbh (MCAM) in Mozal, SA. The Competition Regulatory Authority (ARC) published the information a few days ago in a statement in which the authority requested views on the operation. MCAM is a subsidiary of the Mitsubishi…
BHP and Rio Tinto, two global mining companies, have formed a collaboration agreement to accelerate the development of technology that could significantly increase water recovery from mine tailings, reducing potential safety risks and environmental footprints associated with tailings storage facilities. The first project will include putting an innovative large-volume filter unit to the test at…
Minerals Council of South Africa( formerly Chamber of Mines SA) CEO Roger Baxter has decided to step down when his contract expires in April 2023, ending nearly nine years in the leadership role of “tirelessly promoting, championing, and protecting the South African mining industry”. In a widely distributed press statement on October 31, Nolitha Fakude,…
The Just Energy Transition Partnership (JETP), an investment strategy that will allow South Africa to access up to $8.5 billion in investment to finance the country’s transition away from coal, has received official support from the cabinet. The JETP partners made a $8.5 billion pledge at COP26 in Scotland last year to help South Africa…
Saudi’s ACWA Power and the Industrial Development Corporation of South Africa (IDC), a government-owned Development Finance Institution, have signed an extensive memorandum of understanding (MoU) exploring a partnership in the development of green hydrogen and its derivatives in South Africa.This partnership coincides with the state visit of the South African President Cyril Ramaphosa to the…
South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion climate aid package before next month’s United Nations climate summit. The landmark funding plan unveiled at last year’s climate conference in Glasgow was meant to help South Africa wean itself off coal. It was hailed…
Nedbank’s London branch has signed a $350m sustainability-linked syndicated term loan facility, which will be used to refinance outstanding balances on a prior loan. The proceeds of the two-year loan, which comes with the option to extend for an additional year, will be used to refinance the $250m balance outstanding on a $500m syndicated term…
The James Webb Space Telescope has captured a stunning view of the “Pillars of Creation” at the hearts of the Eagle Nebula some 6,500 light years from Earth. Famously imaged by Hubble Space Telescope in 1995 and again in 2014, the pillars as viewed by Webb’s infrared instruments reveal thousands of previously unseen stars and…
Fleet Managers lead EVs adoption in South Africa
Climate finance committed by major multilateral development banks (MDBs) rose in 2021 with over $19 billion committed to climate change adaptation finance, according to the Joint Report on Multilateral Development Banks’ Climate Finance, published on Friday. The report tracks the progress of MDBs in relation to their climate finance targets such as those announced at COP21 and…
