Energy Ministers and officials from the Brics bloc met in Sandton on Friday to discuss potential areas of collaboration for improving access to secure and affordable energy, while transitioning to cleaner energy systems. The meeting was chaired by South Africa’s Mineral Resources and Energy Minister, Gwede Mantashe, who reiterated his stance that the transition should [...]

Three months after Zimbabwe roiled the $2-billion carbon credit market by suddenly canceling projects and claiming half of all proceeds, the country now says it will accept a smaller share of revenue and has begun the process of reinstating scrapped projects. In revised regulations issued Friday, the government said projects had 60 days to reapply [...]

Norway’s Scatec, the biggest solar power producer in South Africa, is considering direct sales to consumers who are forced to scramble for reliable electricity amid rolling blackouts. “We are involved in a number of different negotiations, mainly with mining companies,” Scatec CEO Terje Pilskog said in an interview. “We’re also looking at local platforms where [...]

South Africa’s surge in trucking that’s emerged largely due to higher coal prices and train bottlenecks may lead to catastrophic job losses in the road transport sector when factors ease, according to the head of the state-owned port and rail company. The logistic problems faced by Transnet SOC Ltd. — from locomotive shortages to vandalism [...]

The 9.6GW nuclear project, under former president Jacob Zuma's administration, failed because government failed to develop it "systematically" at a "pace and rate" the country could afford, Mineral Resources and Energy Minister Gwede Mantashe has said. The minister was speaking during a webinar about the just transition hosted by the Wits Business School on Thursday.

Financial services provider Standard Bank has attributed its strong performance in the first half of the year, including a 35% growth in headline earnings, to its differentiated franchise and Africa-focused strategy. The group posted headline earnings of R21.2-billion for the six months ended June 30, compared with restated headline earnings of R15.6-billion for the six [...]

The imminent announcement of an infrastructure manager (IM) to oversee the implementation of the National Rail Policy is an important step in the revitalisation of South Africa’s freight rail future, but unless this IM is independent and impartial, rail reform is “doomed”, warns industry body the African Rail Industry Association (ARIA). ARIA CEO Mesela Kope-Nhlapo [...]

Speaking to the media in Lagos, Nigeria, on Tuesday, at the end of a US Commerce Department-led American Global Diversity Export Initiative (GDEI) trade mission to South Africa, Ghana and Nigeria, US Commerce Under Secretary for International Trade Marisa Lago highlighted the commitment of US President Joe Biden and his administration to deepening American engagement [...]

The development bank founded by the so-called Brics countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank's (NDB) two bonds, a R1-billion ($52.3 million) five-year note and a R500-million three-year note, attracted 2.67-billion rand [...]

Chrome ore has been headlined by ferrochrome and chrome producer Merafe Resources as the star of the show in the six months to June 30. Production volumes of ferrochrome and chrome were lower in the six months to June 30 and production costs increased by double digits as power and logistics challenges persisted, Merafe CEO Zanele [...]

The green electrons that have begun to flow into the Free State mine shafts of Harmony Gold will reduce carbon dioxide emissions by 65 000 t in the first 12 months of operation, Mining Weekly can today report. The 30 MW solar photovoltaic plants are well on their way towards delivering 70 GWh of renewable [...]

JSE-listed packaging group Nampak has successfully concluded credit approved term sheets with revolving credit facility and term loan lenders and US private placement noteholders for a favourable refinancing package, on terms and conditions which are acceptable to it given the prevailing circumstances. The revised debt structure will comprise core and noncore debt at Nampak Products [...]