Afreximbank, an oil and gas investor, has allocated $3 billion to support local refineries
A senior executive revealed that the African Export-Import Bank, (Afreximbank), which is a major investor in oil-and-gas projects, had set aside $3 billion for financing the purchase of refined goods within Africa, as part of plans to increase refining capacities. Bank and analysts say that Africa exports 80% of its crude oils and 45% of its natural gas…
Africa's top climate negotiator insists on 'no backwards' in commitments
According to the chair of Africa's group of negotiators, given the threat of global warming and progress made so far, there is no other choice than to continue with climate commitments, despite the United States withdrawing from a key international agreement. The Trump administration withdrew for the second…
Glencore refinery in South Africa invests in cleaner fuels
Astron Energy, an affiliate of the global commodity trader Glencore will invest up six billion rands ($328 million) in order to install new equipment, and to become compliant with South Africa’s cleaner fuel specification before a 2027 deadline. Astron officials have said that the foundations for a Gasoline Hydrotreating Process…
Indonesia Minister says other countries will not follow U.S. withdrawal from JETP Energy Transition Funding
A senior Indonesian Minister said that the United States' decision not to continue with the Just Energy Transition Partnership (a commitment of developed countries to fund energy transition) will have no impact on the commitments made by the other partners. JETP, a global financing initiative that brings…
Russell: Renewables and gas are gaining ground on coal and oil
The latest review of the International Energy Agency shows that renewables and gas are the most popular energy sources. In its Global Energy Review published on Monday, the IEA described this growth rate as "faster-than-average". Electricity, the fastest growing sector, grew 4.3% by 2024 or almost twice the average annual growth rate of the last decade.
The world must adhere to climate goals, despite what the US and UK envoys say
Britain's climate ambassador said that despite the United States pulling out, the world must continue to pursue the reductions in greenhouse gas emissions outlined in Paris Agreement. The UK is also moving forward with its goals. Last month, Donald Trump, the president of the United States, withdrew his…
S. Africa's Sibanye signs a chrome pact to Glencore amid a slump in platinum prices
Sibanye Stillwater, a miner with a diverse portfolio of operations, announced on Wednesday that it had signed a deal to manage chrome for Glencore's Merafe Venture South Africa in order to offset the effects of a prolonged platinum metal price slump. Chrome is a platinum by-product, and South African miner…
Trump or BRICS? Russell: The dilemma for Africa's miner and government:
The world is likely to be splitting in two over the long-term, despite the volatility and uncertainty caused by President Donald Trump's tariffs. After removing Trump's bluster, and his often contradictory behavior, the message appears to be pretty clear. Trump's worldview is that the United States are the only ones who can be trusted.
Sasol, Anglo American, and De Beers pilot renewable diesel in South Africa
The South African petrochemicals firm Sasol, the mining group Anglo American, and its diamond division De Beers have entered into a joint agreement to develop a pilot production of renewable diesel using vegetable oil. Reporters were told that under the terms of the agreement signed at the African Mining Indaba…
Two Russian sources claim that Saudi Arabia and the UAE are possible locations for a Trump-Putin meeting.
Two Russian sources familiar with the discussions said that Russia is considering Saudi Arabia and the United Arab Emirates as potential venues for a meeting between U.S. president Donald Trump and Russian president Vladimir Putin. Trump said that he would end the conflict in Ukraine as quickly as possible, and that he was ready to meet Putin.
China's lead in coal imports over India is the largest it has been in more than 10 years
China, the largest coal importer in the world, has extended its lead over India, No. The gap between China and India, the world's No. 2 coal buyer last year, was the largest since at least 2013. Customs data show. This helped cement its grip on global markets while also helping to stem a price slide. According to the International Energy Agency…
TotalEnergies targets new offshore exploration area
Documents from environmental consultants SLR on Tuesday showed that TotalEnergies has requested environmental authorization to drill up seven exploration wells off the west coast South Africa in the southern part Deep Water Orange Basin. Shell and other oil companies are looking at the west coast of South Africa…
Anglo sells Australian coal mines for up to $3.78 billion to Peabody
Anglo American agreed on Monday to sell the remaining Australian steelmaking mines to Peabody Energy, for up to $3.78 Billion in cash. This is its first large disposal under a restructuring plan. After fending off BHP Group's $49 billion bid in May, the mining giant has reshaped its business to focus mainly on iron ore and copper.
COP29: Climate agenda clashes with trade demands
At the COP29 Climate Summit, trade tensions are escalating. According to U.N. documents, and negotiators, China, Brazil, and a number of other developing countries have complained that perceived barriers, like the European Union’s carbon border levy will undermine climate efforts. Nearly 200 nations are…
Officials say that South Africa has a significant reworking of its long-term energy plan.
Officials said that a reworked long-term South Africa power plan would be soon presented to the cabinet. The plan is designed to put an end to the electricity blackouts which have plagued the country over the past decade. Only in January was the last plan released, which laid out scenarios for power supply up to 2050.
Nel is appointed as the new CEO of South Africa's largest gold miner amid a copper pivot
Harmony Gold, South Africa’s largest gold producer in terms of volume, announced on Thursday that Beyers Nel had been appointed chief executive officer, to replace Peter Steenkamp who is retiring. Nel is a mining engineer with Johannesburg's gold producer. He has worked there since 2003. His new role will begin on January 1, 2025. Nel is Harmony's chief operating officer.
Gates-backed nuclear company, ASP Isotopes, plans plant to manufacture nuclear fuel
TerraPower, a Bill Gates-funded reactor company, and ASP Isotopes announced on Wednesday that they had struck a deal for the production of a new fuel. This fuel is currently only produced in Russia in commercial quantities, but will be used in a future generation of nuclear power stations. Both major U.S.
Petrobras' focus remains Brazil despite Africa plans, director says
Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa. Petrobras, which is looking to replenish its oil reserves in the future…
European and Southern African Development Banks to lend an extra $220 million to clean energy projects
The European Investment Bank and Development Bank of Southern Africa announced on Wednesday that, together, they will lend an additional 200 millions euros ($220.16million) to renewable energy project in South Africa. The EIB and DBSA have pledged 400 million euros at the COP27 Climate Summit in 2022 for…
Russia invites Saudi Crown Prince to October BRICS Summit
Sergei Lavrov, the Russian Foreign Minister, announced on Monday that Russia had invited Saudi Crown Prince Mohammed bin Salman from October 22-24 to attend a BRICS Summit in Kazan. Last year, the bloc of developing countries invited Saudi Arabia and Iran to join, as well as Ethiopia, Egypt, Argentina, and the United Arab Emirates.
