Multinational company Endeavour Mining has poured the first gold at its Sabodala-Massawa BIOX Expansion project in Senegal, completing construction in just 24 months. Commercial production at the expansion project is slated to commence late in Q2 2024, with a capacity expected to reach 1.2 million tons per year by Q3 2024. The inaugural gold pour took place on April 18, 2024, yielding approximately 112 ounces, while the BIOX circuit followed suit on April 28, 2024,
Canadian mining firm Hertz Energy has applied for two prospecting licenses to explore uranium in Namibia. Namibia ranks third globally in uranium production and extracting 6,382 tons of uranium l in 2023. The application covers a 9,627-hectare area in Central Namibia, situated in the Erongo region. The first proposed project is positioned 22km east of Swakopmund and 30km southwest of the longstanding Rossing Mine. Preliminary data suggests mineralization similar to that of the Rossing Mine
Renewable energy firm AMEA Power, headquartered in the UAE, has announced the signing of a 20-year Power Purchase Agreement (PPA) with Eskom, a major South African utility company, for the 120-megawatt Doornhoek Solar Photovoltaic (PV) Project. The project, awarded under Bid Window 6 of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), was developed by a consortium led by AMEA Power in partnership with local entities. AMEA Power holds the majority share in the
According to a report released today by the International Energy Agency (IEA), China maintained its stronghold on the global investment landscape in photovoltaic solar module manufacturing, accounting for 80% of global investment in 2023. The IEA’s findings suggest that China’s leadership in this sector is unlikely to change in the near future. The report paints an optimistic picture of the capacity of factories worldwide to produce solar installations necessary to achieve climate goals by 2030.
The unemployment rate in the United States of America (USA) rose to 3.9% in April, a tenth more than in the previous month and the economy created 175,000 new jobs, the Department of Labor reported. ob creation was below what was expected by economists, who pointed to 243,000 jobs and a far cry from the 315,000 in March. These data suggest that the Federal Reserve’s (Fed) restrictive monetary policy, with successive interest rate hikes until
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has launched its 2024 licensing round that features 12 oil blocks, combined with 5 deep offshore assets from last year’s round. Available through January 2025, the acreage on offer includes but is not limited to 6 greenfield oil blocks situated on the continental shelf, 4 deep offshore blocks and 2 onshore blocks in the Niger Delta. The Commission is seeking to establish an investment-friendly environment by ensuring regulatory
Transitional energy company Chariot has initiated drilling operations for the RZK-1 well, marking its first exploration well of 2024. Situated within Morocco’s onshore Loukos license, the Gaufrette prospect serves as the focal point for this drilling campaign. The primary objective of the drilling endeavor is to tap into an estimated 10 billion cubic feet (bcf) of natural gas resources. However, Chariot’s strategy includes plans to deepen the well in order to access potentially larger reserves.
Mauritania and Saudi Arabia have inked a Memorandum of Understanding (MOU) aimed at fostering knowledge exchange and collaboration within the clean energy sector. The agreement covers a wide array of areas, including renewables, green hydrogen, power, and carbon capture technologies. The MOU was signed by Saudi Energy Minister Prince Abdulaziz bin Salman Al-Saud and Mauritanian Minister of Petroleum, Mines, and Energy Nani Ould Chrougha during a special session at the World Economic Forum in Riyadh
Genesis Energy, an energy infrastructure development firm, and the US Agency for International Development (USAID) have entered into an agreement to mobilize $10 billion towards renewable energy, nature-based solutions, and climate mitigation measures in Africa. The collaboration aims to harness private sector investment to assist countries in fulfilling their Nationally Determined Contributions under the Paris Agreement. Implemented under USAID’s Comprehensive Action Against Climate Change Initiative, the agreement spans the next five years. Gillian Caldwell, USAID’s
South Africa’s Department of Forestry, Fisheries and the Environment (DFFE) has introduced fresh guidelines for solar photovoltaic (PV) and battery energy storage systems (BESS) developed in areas of “low” or “medium” environmental sensitivity. The guidelines represent a shift in South Africa’s renewable energy strategy, aiming to expedite renewable investments and project development while ensuring the protection of environmentally sensitive regions. In eligible zones, developers can streamline the environmental authorization (EA) process, reducing bureaucratic hurdles. Under
