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…
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…
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…
Rio Tinto has agreed to buy U.S.-based Arcadium Lithium for $6.7 billion, it said this week, in a deal that will catapult it to become the world’s third largest miner of the metal used in electric vehicle batteries, according to Reuters. The demand for lithium, driven by electric vehicle (EV) batteries and renewable energy storage,…
Sinomine Resource Group, a Chinese state-owned mining conglomerate, is aggressively expanding its presence in Southern Africa through strategic investments in critical minerals, including copper, lithium, and platinum. In a significant move, Sinomine committed $500 million to develop a lithium refinery in Zimbabwe over the next three to five years. Building on this momentum, the company…
PGM miner Sibanye Stillwater, a leading precious metals mining company, announced on Monday that it expects to report a half-year loss due to a significant writedown on its US assets. The company attributed the loss to the declining price of palladium, a key metal used in vehicle exhaust systems to reduce emissions. The writedown, valued…
INDONESIA will seek to sign US$3.5 billion of trade and investment agreements with Africa as global trade battles spur a hunt for new markets outside Asia, according to a senior diplomat. The deals will be announced at the ongoing Indonesia-Africa Forum, which will be held until Tuesday (Sep 3) in Bali, Vice Foreign Affairs Minister…
South African President Cyril Ramaphosa’s state visit to China is expected to open and strengthen economic ties and attract investment to the country. During his visit, Ramaphosa will on Tuesday travel to Shenzhen, a major economic and technology hub in Guangdong Province, where he will engage with industry leaders and tour the headquarters of leading…
Navigating sluggish demand In the first half of 2023, South African auto manufacturers reported modest sales of battery electric vehicles (BEVs), with only 800 units sold nationwide. Volvo and BMW/Mini led the sales charts, with 374 and 283 units sold, respectively. Despite having over 12 million vehicles on the road, South Africa’s electric vehicle fleet…
Vanadium could be the answer to Long Duration Energy Storage (LDES) solutions.
