Medupi coal power station project finally complete after six years delay

SOUTH AFRICA – Eskom’s Medupi coal power station in Lephalale, Limpopo has finally reached commercial operation six years after the first unit began supplying power to the grid, the sixth and last generating unit at Eskom’s Medupi. It is the fourth-largest coal-fired plant and the largest dry-cooled power station in the world and has been beset by cost overruns and significant design issues that led to major delays in the project. Breakdowns of units had often contributed to the recent spate of load shedding.  Eskom said in a statement that…

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Zambia commissions 150MW Kafue hydroelectric power plant

ZAMBIA – Chinese company Sinohydro has commissioned the first 150MW unit of the Kafue hydroelectric power station and eventually add 750 MW of power to Zambia’s national grid. The Kafue hydropower project is being implemented by Sinohydro, about 50 kilometers south of Lusaka. The Chinese company has built an earth and rockfill dam with a concrete spillway with four radial gates on the Kafue River, a tributary of the Zambezi River. The dam is 139 meters high with a crest width of between 8 and 10 meters and a length…

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Back female owned-DLO Resources acquires Conco Energy Solutions

SOUTH AFRICA – DLO Resources, a black female-owned strategic investor has acquired 51% of Conco Energy Solutions, the subsidiary of Consolidated Power Projects, to create South Africa’s first majority-black female-owned EPC and O&M in the automation and protection space. Conco Energy Solutions has been acquired by a 100% black-owned company with a 51% female majority shareholding held by Linda Mabhena-Olagunju. Mabhena-Olagunju is a Founder and CEO of DLO Resources Group, a 100% female-owned renewable energy developer and strategic investor. The move will see the company change its name to DLO…

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Sibanye-Stillwater to acquire French nickel refinery Eramet for US$77m as it advances its battery metals strategy

SOUTH AFRICA – Precious metals miner Sibanye-Stillwater has taken the next step in expanding its footprint in the battery metals sector by entering into an exclusive put option agreement with French mining group Eramet to acquire the Sandouville nickel hydrometallurgical processing facility, in France, for €65 million (US$77.4 million) according to Mining Weekly. The companies expect the deal to conclude by the end of 2021, pending regulatory approvals. Eramet can exercise the put option upon the completion of the consultation process with the relevant Eramet works councils, which is standard for…

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TotalEnergies to buy back shares as fuel prices boom

WORLD – Energy company TotalEnergies says it would use part of its cash flow for share buybacks worth at least US$800 million, as rising oil and gas prices boosted profit, offsetting the hit from selling out of one of its Venezuelan ventures, reports Reuters. TotalEnergies has been investing heavily in clean energy projects and electricity production so it can eventually rely less on oil and gas, mirroring moves by European rivals. On 29th July 2021, it announced a collaboration with Amazon, through which it will supply the online retail giant with…

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Sound Energy signs 10 year LNG sales agreement in Morocco

MOROCCO – Sound Energy, a gas company, has entered sale and purchase agreement with Afriquia Gaz for phase 1 development plan for the TE-5 Horst development at the Tendrara Production Concession, onshore Morocco. Pursuant to this agreement, Sound Energy will sell not less than 171,000 cubic metres of LNG per year (approx. 100 million cubic metres a year of gas to be produced and liquefied from the Phase 1 Development) on behalf of the Concession joint venture (the LNG SPA). ”We are delighted to announce the signature of a binding…

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UK’s Caracal Gold Plc to list at the Nairobi Securities Exchange

KENYA – Caracal Gold Plc, a gold mining company, based in the UK, has picked Faida Investment Bank as its financial adviser and joint broker as it plans to do a Kshs 2 Billion (US$18.4 million) listing at the Nairobi Securities Exchange (NSE). Caracal Gold Plc listing at the Nairobi Bourse will make it only the second Company to have a dual listing at both the NSE and London Stock Exchange (LSE). The Economic Partnership Agreement (EPA) that was ratified between Kenya and the UK in May 2021 to boost trade between…

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Rio Tinto signs renewable energy power purchase agreement in Madagascar

MADAGASCAR – Rio Tinto, Anglo-Australian metals and mining corporation, has signed a power purchasing agreement for a new renewable energy plant to power the operations of its QMM ilmenite mine in Fort Dauphin, Southern Madagascar. The project, which uses solar and wind energy, will significantly contribute towards Rio Tinto’s operations in Madagascar achieving its carbon neutral objective by 2023. The project is part of a broader initiative to reduce the ilmenite mine’s environmental footprint which includes programmes that focus on emissions reduction, waste and water management, carbon sequestration, ecological restoration…

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Ivoire Hydro Energy secures US$29m from EAIF for the development of 44MW hydro electricity generation plant

CÔTE D’IVOIRE – Ivoire Hydro Energy (IHE) has secured €25 million (US$29.46m) from The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, for over 18 years build a 44MW hydro electricity generation plant. The plant will be on the Bandama River near the village of Singrobo in Côte d’Ivoire and is forecast to take some 36 months to build. Financial close is expected in late Q3 2021. “The new facility being built at Singrobo is the country’s first hydroelectric development by an independent power producer,” Paromita…

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Platinum miners eye solar power as a green answer to load shedding

SOUTH AFRICA – The world’s biggest platinum miners are ramping up plans to build renewable energy plants to free them from power outages that have plagued South Africa for more than a decade and to reduce their carbon footprint. Sibanye Stillwater, the number one platinum miner, Impala Platinum Holdings and Anglo American Platinum said they plan to scale up solar and wind farms for their own use to cut reliance on state-owned utility Eskom, some of whose aging coal-fired plants have failed to keep up with electricity demand. South Africa…

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