The aid package launches a drive to transform chimney-stack economies into high-tech centers and will help Germany achieve its climate goals for 2030 and put it on the right path for meeting 2050 targets.
The collateral for African Export-Import Bank’s $500 million loan to Zimbabwe is a mine that Great Dyke Investments, a venture between Russian investors and the Zimbabwean military, plans to build at a cost of $4 billion.
Investors in energy seem now to be sitting on the sidelines, waiting to see whether the cost deflation in renewables will overcome issues around grid integration, or whether some unforeseen policy backlash can drive a second coming of fossil fuels.
Zambia’s Eurobond yields rose to record highs after the government of the cash-strapped copper producer said it’s planning to seize Vedanta’s mining assets.
Sibanye Gold reiterated that its increased offer for Lonmin is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge.
A surprise election victory for Australia’s pro-coal ruling Coalition is ratcheting up pressure on the Queensland state government to approve development in one of the biggest untapped reserves of the fossil fuel.