Investment in clean energy technologies will climb to $2-trillion this year, almost double the amount spent on fossil fuels, according to the International Energy Agency (IEA). Two-thirds of the record $3-trillion invested in energy sources in 2024 will be devoted to sectors such as renewables, electric vehicles, nuclear power, grids, storage and efficiency, even as higher financing costs hinder projects, the Paris-based agency said. The remaining $1-trillion will go to coal, gas and oil — a level that’s still too high to conform with global climate goals.
Botswana may raise De Beers stake as Anglo weighs spin-off
The Botswana government may raise its shareholding in global diamond miner De Beers, President Mokgweetsi Masisi told JCK News, after parent company Anglo American said it plans to spin off or sell the business. The government owns a 15% stake in De Beers and Botswana accounts for 70% of the company’s annual rough diamond supply.
NUM concludes five-year wage agreement with South32’s Hotazel Manganese Mines
The National Union of Mineworkers (NUM) Kimberley Region has concluded and signed a five-year wage agreement on behalf of its members at globally diversified mining and metals company South 32’s Hotazel Manganese Mines, in the Northern Cape. The union says the parties agreed to the harmonisation of B-Lower level employees, effective from June 1.
Ironveld assessing options amid financing hiccup
London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, says it is assessing its options as it may not be able to secure the funding it was previously expecting to close by the first half of this year. The company has been in discussions with a South African financial institution regarding asset level financing of mining and smelting activities at the project.
NUM concludes five-year wage agreement with South32’s Hotazel Manganese Mines
The National Union of Mineworkers (NUM) Kimberley Region has concluded and signed a five-year wage agreement on behalf of its members at globally diversified mining and metals company South 32’s Hotazel Manganese Mines, in the Northern Cape. The union says the parties agreed to the harmonisation of B-Lower level employees, effective from June 1.
Ironveld assessing options amid financing hiccup
London-listed Ironveld, which owns a high-purity iron, vanadium and titanium project on the northern limb of the Bushveld Complex, in Limpopo, South Africa, says it is assessing its options as it may not be able to secure the funding it was previously expecting to close by the first half of this year. The company has been in discussions with a South African financial institution regarding asset level financing of mining and smelting activities at the project.
Richards Bay Minerals signs agreement for additional 140 MW of renewable energy
A second renewable-energy project has been announced for heavy mineral sands extraction and refining company Richards Bay Minerals (RBM), which mines in northern KwaZulu-Natal and produces materials used in a wide range of everyday products, from paints to smartphones. In 2022, the Rio Tinto group company signed a renewables agreement with Voltalia for the Bolobedu solar PV plant in Limpopo. which is currently in progress and which is anticipated to meet 17% of RBM’s power consumption by generating up to 300 GWh/y of renewable energy.
Marokane says R285m spent on diesel in May compared with R2.8bn in May 2023
Eskom CEO Dan Marokane has rebuffed persistent suggestions that the utility is keeping loadshedding at bay owing to an “excessive” reliance on the diesel-fuelled open cycle gas turbines, reporting that it spent R285-million on diesel during May compared with R2.8-billion in the same month last year and against a budget for the month of R1.7-billion. Addressing the South African National Energy Association AGM against a backdrop of deep suspicion about how Eskom has managed to avoid resorting to rotational power cuts for 71 days, including over a highly competitive election period, Marokane attributed the stabilisation to the Generation Recovery Plan, which had been under way since March 2023.
B2Gold sells royalties to Versamet
Canada-based B2Gold on Thursday announced the sale of a portfolio of ten precious and base metals royalties to Sandbox Royalties, a private, returns-focused metals royalty company that has been renamed Versamet Royalties.
The move, valued at about $90-million, is an opportunity for B2Gold to unlock the value of its royalties, which CEO Clive Johnson said had gone largely unrecognised by the market.
NOA helps Tronox decarbonise its South African operations with 25-yr energy supply agreement
Local integrated energy company NOA Group Holdings has entered into a 25-year energy supply agreement with NYSE-listed titanium dioxide pigment manufacturer Tronox Holdings for its South African operating sites. Under the terms of the agreement, NOA will supply Tronox’s operations in KwaZulu-Natal and the Western Cape with 497 GWh of renewable energy.