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Extractive and Energy
- South Africa has adopted a number of measures aimed at boosting the country’s critical mineral industry.
- In January 2023, mining production experienced its twelfth consecutive month-to-month decline, recording a decrease of 1.9 per cent.
- According to the Minister of Mineral Resources and Energy Gwede Mantashe, the industry needs to advance a commitment to working together as stakeholders on the reconstruction and recovery of the mining industry.
South Africa’s vast reserves of critical minerals present a huge opportunity for the country to accelerate economic growth and boost employment creation, while ensuring the energy transition is just and inclusive.
Statistics South Africa recently released its key findings for the fourth quarter of 2022, wherein the real Gross Domestic Product (GDP) decreased by 1.3 per cent. According to the report, the mining and quarrying industry decreased by 3.2 per cent and thus contributed -0.1 per cent to the GDP growth.
Key to
The rapid snowballing of Africa’s rare earths metal production is set to become the world’s alternative source in 2023 and beyond, as global demand surges and world powers seek to wean off their dependence on China amid a new geopolitical multipolar world order. Africa’s vast reserves of rare earth metals have come under the radar of world powers fueled by the devastation emanating from the climate change crisis and calls for a drastic reduction in the growth and operations of extractive industries.
Furthermore, the race to net-zero emissions compounded by increased climate-induced natural disasters has intensified the green energy transition, instigating another scramble for Africa’s resources rare earth metals are at the heart of the race to green energy as well as providing opportunities for massive economic growth by injecting much-needed revenues to finance core socio-economic objectives in the continent.
Rare earth elements (REEs) refers to a group of 17 …
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
Egypt said on Saturday it had signed several multimillion-dollar energy investment accords including a $430-million gas deal with Texas’ Noble Energy.
The deal will allow the Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company’s pipeline.
Under another agreement with Noble Energy, the energy company in partnership with the Egyptian company Dolphinus Holdings will manufacture petroleum products. The project will be also be financed by the U.S. International Development Finance Corporation.
Egypt’s cabinet detailed the plans at the end of an Africa investment forum held on the site of the new Egypt’s planned administrative capital in the desert east of Cairo.
Lekela, Amsterdam-based company also announced it would start construction work on its West Bakr wind power plant, which will require a total investment of $350 million with a capacity of 250 megawatts.
According to the cabinet statement, Chris Antonopoulos, Lekela CEO said Siemens Gamesa would …
Africa needs cumulative investments of $2.6 trillion between 2019 and 2040 to meet the rising energy demand and provide more accessible facilities to citizens as the continent’s population expands report shows.
The International Energy Agency (IEA) released its Africa Energy Outlook 2019 report, in which it said that Africa is experiencing the fastest progression of urbanisation in the world. While accounting for half of the global increase, the report said that Africa’s overall population is projected to expand by 600 million before 2040.
According to the report, the shifts will drive the continent’s economic growth, infrastructure development and energy demand, which is predicted to rise by 60 per cent.
“While this energy gap remains a significant barrier to Africa’s sustained economic development, it inversely presents several opportunities for many African nations such as current advancements in the liquefied gas (LNG) market, potential for realising onshore value, while simultaneously driving …
Rwanda’s Cabinet approved an agreement with Russia to advance the use of nuclear energy for “peaceful purposes.”
This agreement is expected to bolster relations between the two countries and advance Russia’s interests in the region.
In December last year, the two countries first signed the nuclear energy deal in Moscow which was to see Russian scientists set up a Centre for Nuclear Science and Technology in Kigali.
In May early this year, Rosatom Global a Russian government nuclear parastatal reached an agreement to set up the nuclear plant by 2024. The Russian government says it will help in the advancement of technology in agriculture, energy production and environmental protection in Rwanda.
A Russian press reported that in June, Rwanda started negotiations to purchase Russian missile defence systems and signed agreements to develop a military simulation and training centre in Kigali.
Also Read: Russia and Uganda sign nuclear deal
The deal …
The large-scale mining industry in Tanzania just got interesting.
On October 20th, the government of Tanzania and the mining companies previously managed by Acacia Mining, but now managed by Barrick Gold Corporation, strike a new partnership, to settle all disputes, which saw major reforms in the sub-sector in the past 3 years.
According to the government of Tanzania, the agreements have been submitted to the Tanzanian attorney general for review and legalization.
The new partnership comes, after—Acacia (now Barrick Gold), Tanzania’s largest gold producer was cleared by the Magufuli government and resumed its metal concentrates exportation after a series of regulations led by The Mining Commission of Tanzania Ministry of Minerals that impeded the export of the mineral.
Further, according to Barrick Gold, the terms of the agreement include payment of $300 million to settle all outstanding tax and other disputes; the lifting of the concentrate export ban; the sharing …
The government of Tanzania, has carefully laid out its plans to boost the mining sector in the country.
The country is now adopting robust measures, within legal and operational lines to ensure the country gets optimum benefits from this. It has also announced plans to set up trading centers are established as well as spruce up value addition efforts.
Since Tanzania’s President John Magufuli came to power, various strategic sectors have been under heavy scrutiny and vital changes, necessary for a robust Tanzanian success story, primarily the minerals sector—a rather high-earning sector in Tanzania.
From the Acacia Mining saga to local securing sustainable small miners’ welfare, the government has immensely waged its efforts to improve mining operations and minerals trading in Tanzania, including: the erection of the Mererani wall (3 meters high, 24.5 kilometers long and worth over $2.6 million) and establishment of minerals trading centers across the country.
The …
Electricity Regulatory Authority (ERA) has reduced power tariffs by an average of Ush2.4 from October to December quarter.
The tariff reduction will apply to all consumption categories including domestic and extra-large consumers.
The first 15 units for Ush250 with units from sixteen upwards now costing Ush752.5 per unit from Ush755.1 in September.
During this period, commercial consumers will enjoy Ush3.4 tariff reduction from Ush669.5 to Ush666.1 while medium industrial users will pay Ush595.6 per unit from Ush599.2, which has been reduced by Ush3.6. Large industries will pay Ush364 from Ush365.7, saving the industrialists Ush1.7.
Extra-large industries, on the other hand, will be paying Ush302.6 per unit from Ush304.7 in the previous quarter saving them Ush2.1 in the three months leading to December.
The Electricity Regulatory Authority has maintained its strategy to continue reducing tariffs on street lighting, which was reduced by almost a half last month to Ush371.4 per unit.…
