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Siemens Gamesa Adds 250MW Of Clean Energy To South Africa’s Grid

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Siemens Gamesa has officially started production of Mainstream Renewable Power’s 110MW Perdekraal East and 140 MW Kangnas wind farms in South Africa, supporting additional green power supply into the country’s national grid.

The Perdekraal East site is located 80km northeast of Ceres in the Western Cape and the Kangnas wind farm is situated near Springbok in the Northern Cape.

The wind farms are equipped with a total of 109 2.3MW capacity onshore wind turbines and will help provide enough clean electricity to power a total of 250,000 South African homes.

Additionally, the wind farms will emit zero carbon emissions using almost no water during the power generation process.

Despite COVID-19 challenges, the two projects have been completed in line with the original timeline set by Mainstream Renewable Power. Mainstream fully developed the projects, managed the construction process and will manage the operations and maintenance of the plants.

The global developer of renewable energy is based in Dublin with offices in Cape Town. Kangnas wind farm was even completed significantly ahead of schedule.

Part of the “Bid Window 4” of the government’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), both Perdekraal and Kangnas wind farms will together add to the 1.3GW to the country’s clean energy generation capacity.

In compliance with the REIPPPP regulations, the wind projects were built by the 30% black owned subsidiary of Siemens Gamesa in South Africa and, by its South African staff utilizing South African contractors thereby creating jobs  while supporting local communities, driving local manufacturing and development projects within local communities.

“Siemens Gamesa is taking a step forward in its mission to provide a cleaner, more sustainable future for South Africa in its journey to a low carbon economy, having contributed as of today with more than 850MW of wind capacity to the national grid. We are also proud to demonstrate our engagement towards improving living standards across the country, despite the disruption witnessed due to the Covid-19 lockdowns earlier this year,” said Janek Winand, Managing Director Siemens Gamesa South Africa.

Beyond the completion of its wind projects in the country, Siemens Gamesa remains committed to the local communities in need through several social actions led across the regions where it is operating.

Among these initiatives, the company helped provide relief to Tembisa residents suffering from the impact of the COVID19 crisis through the donation of vital supplies benefitting over 300 families.

The team also supported recently the Witzenberg Association for Persons with Disabilities (WAPD) near the Perdekraal wind farm through the donation of a mobile day care.

“As a responsible company, we are eager to assert further our contribution to South Africa’s increasing energy demand, but beyond that, we are strongly committed to provide continuous support through rapid responses to the challenges faced by the local communities in need, especially in the aftermath of the COVID-19 pandemic,” added Janek Winand.

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Ecobank Transnational Incorporated Lists On LSE For US$350M

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Ecobank Transnational Incorporated (“ETI”), the Lomé based parent company of the Ecobank Group (www.Ecobank.com), was hosted today by the London Stock Exchange for a market opening virtual ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market.

This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa.

This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and is now listed on the main market of the London Stock Exchange.

The bond, which matures in June 2031, has a call option in June 2026 and was issued with a coupon of 8.75% with interest payable semi-annually in arrears.

An equivalent amount of the net proceeds from the notes will be used by ETI to finance or re-finance, new or existing eligible assets as described in ETI’s Sustainable Finance Framework, available at https://bit.ly/3j4xrlb on which DNV issued a Second Party Opinion.

Investor interest for this Sophomore Eurobond issue was global, including United Kingdom, United States, Europe, the Middle East, Asia and Africa, achieving a 3.6x oversubscribed orderbook, of over US$1.3 billion at its peak.

Ade Ayeyemi, Group Chief Executive Officer of ETI, stated: “The strong global interest in our issuance reflects investors’ confidence in Ecobank’s strategy and our commitment to sustainable financing. We thank the LSE for hosting ETI today and look forward to value creation for all our stakeholders. ”

The Joint Lead Managers and Bookrunners in the transaction were Citi, Mashreq, Renaissance Capital and Standard Chartered Bank.

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Botswana Finds Another Diamond Larger than 1000ct

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Botswana has delivered another diamond at 1 174.76 ct from Karowe mine a producer of high-quality rough diamonds.

It is the third diamond weighing more than 1,000 ct to be recovered from the South Lobe of the AK6 kimberlite since 2015.

In recent years, Lucara had recovered the 1,758 ct Sewelô and the 1,109 ct Lesedi La Rona diamonds from the South Lobe.

Lucara’s latest find also follows hot on the heels of the recovery of a 1,098 ct diamond by Debswana at its Jwaneng mine, in Botswana.

When Debswana announced the find on June 16, that diamond was said to be the world’s third-largest.

The 3,106 ct Cullinan diamond recovered in South Africa in 1905 is the largest diamond ever to be recovered.

“Lucara is delighted to be reporting another historic diamond recovery and its third diamond over 1,000 ct – a world record for Karowe.

“Although complex, these diamond recoveries do contain large domains of top-colour white gems that will be transformed through our partnership with HB Antwerp into valuable collections of top-colour polished diamonds, very much in high demand in the market today,” comments Lucara CEO Eira Thomas.

Lucara notes that the 1,174 ct diamond was recovered in the Mega Diamond Recovery XRT circuit at Karowe.

“On the same production day, several other diamonds of similar appearance – a 471 ct, a 218 ct and a 159 ct – were recovered at the main XRT circuit, indicating the 1,174 ct diamond was part of a larger diamond with an estimated weight of more than 2,000 ct,” the company points out.

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Swiss Glencore Plc Hints On Reopening Idle Cobalt Mine In DRC

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Glencore Plc could reopen its Mutanda Mining copper and cobalt project in Democratic Republic of Congo by the end of 2021, about two years after idling the mine.

Congo’s new mines minister, Antoinette N’Samba Kalambayi met with representatives from the Swiss company Monday to discuss the restart of the mine, which closed in November 2019, the ministry said in a statement sent to reporters.

Mutanda “will start the commissioning of operations towards the end of this year in order to allow the return to production in 2022,” Glencore said in a separate emailed statement.

A reopening of Mutanda, one of the world’s biggest cobalt mines, comes when there’s renewed demand for battery metals as automakers focus on metal-intensive electric vehicles and global economies shift away from fossil fuels in favor of cleaner technologies that use electricity for energy.

Cobalt and copper are key metals in that transition.

Glencore said in August 2019 that it would close the mine for two years to carry out care and maintenance after prices of cobalt slumped.

Mutanda was responsible for a fifth of global cobalt production in 2018, according to Darton Commodities Ltd., a U.K.-based firm that specializes in the metal.

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