Zimbabwe may sell 40% stake in a key gold mine to raise capital
Zimbabwe’s largest gold producer is negotiating with potential partners to boost production at its Shamva mine.
Australia’s Fortescue Metals Group said on Tuesday its green energy unit will help fast-track the development of an affordable green fertilizer supply chain in Kenya.
Fortescue Future Industries (FFI) and the Kenyan government will together develop a 300 megawatt green ammonia and green fertilizer facility by 2025.
“For Kenya this will create fossil fuel free fertilizer, a strong local industry, skilled job creation, and lessen Kenya’s exposure to imports from foreign nations,” FFI said in a statement.
The world’s fourth largest iron ore producer has signed multiple agreements through FFI since last year as it strives to transition into a green energy company amid increasing calls for de-carbonization.
The development of the facility in Kenya will be followed up by feasibility studies for two more projects in the country that are expected to scale up renewable electricity generation for green industries by up to 25 gigawatts.
The projects could produce up to 1.7 million tonnes of green hydrogen per year for exports, FFI said.
The green hydrogen and green ammonia facility will be located in the Naivasha vicinity of the Olkaria geothermal field, with FFI’s final investment decision expected in 2023.
(By Upasana Singh; Editing by Uttaresh.V and Vinay Dwivedi)
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