BENGHAZI - The head of Libya's National Oil Company (NOC) announced that oil production is expected to reach 1.25m barrels per day by the end of 2017.
After reaching a legal stalemate with the Chamber of Mines (CoM) over the Mining Charter III, the minister of mineral resources, Mosebenzi Zwane, has published a notice in the Government Gazette on his intention to impose a moratorium on prospecting and mining rights.
The Eskom board has decided to take disciplinary action against executive Matshela Koko, the utility's interim chairperson said.
Mining Charter III has been mired in controversy since before its publication and, at the time of writing this piece, is the subject of litigation regarding the perceived lack of consultation with industry stakeholders on the new Broad-based Black Economic Empowerment (BBBEE) requirements.
Kate Collier and Jonathan Veeran 2 days ago
Currently, energy produced by solar or wind costs around 60c per kilowatt hour produced, and roughly R1 per kilowatt hour for coal-fired power stations. However, the cost of storage raises the cost of renewable energy above that of coal-fired power stations.
Minister of mineral resources, Mosebenzi Zwane, has agreed not to implement the new Mining Charter, pending the judgement of an urgent interdict by the Chamber of Mines.
AngloGold Ashanti's subsidiaries in Tanzania have initiated arbitration proceedings to protect their interests in case the government changes the terms of their longstanding agreement, the group said.
WASHINGTON, US - A strong signal of growing business engagement with Africa by large US corporations was the announcement last September by Caterpillar CEO Doug Oberhelman of plans to invest over $1b in Africa over the next five years. Caterpillar is not a new-comer, having begun doing business on the continent in 1926. At last month's US-Africa Business Summit in Washington, DC, David Picard, Caterpillar's regional manager for Africa and the Middle East, described some of the steps that have been taken since last year's announcement. He also talked about the challenges and opportunities he sees, including Nigeria, where the company has operated since 1948. He was interviewed by AllAfrica's Noluthando Crockett-Ntonga and Ladi Olorunyomi from Premium Times in Nigeria. The interview has been edited for clarity and length.
South Africa is rated as an attractive destination for investment in renewable energy, but the stand-off between Eskom and the government on the latest round of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) contracts is leading to a loss in confidence amongst international investors.
Bekezela Phakathi 14 Jul 2017