https://www.miningweekly.com
Africa|Botswana|Coal|Copper|Energy|Infrastructure|Projects|Infrastructure
Africa|Botswana|Coal|Copper|Energy|Infrastructure|Projects|Infrastructure
africa|botswana|coal|copper|energy|infrastructure|projects|infrastructure

South Africa’s QGC secures $1bn for push into green metals

Quinton Van der Burgh

Quinton Van der Burgh

20th October 2023

By: Bloomberg

  

Font size: - +

Q Global Commodities, owned and run by South African coal investor Quinton Van der Burgh, has agreed a partnership with Abu Dhabi’s F9 Capital Management to invest $1-billion in mines producing green metals.

The venture plans to develop deposits of metals such as lithium, copper and nickel in southern and eastern Africa, the companies said in a statement. An energy transition fund run by F9 will hold a 30% stake in the assets.

“We wanted to make sure that our reserves and projects were exactly where they needed to be so we could get to the next stage,” Van der Burgh said in an interview on Friday. “That pulling the trigger means investing in plants, infrastructure and developing our logistical arms.”

QGC and F9 are joining the race to tap metals used in renewable energies as well as in batteries for electric vehicles. QGC, which mines coal in South Africa, has stakes in metal deposits in the country, plus in Botswana, Zambia, Tanzania and Namibia.

The availability and expense of crucial battery materials — including lithium, nickel and cobalt — have been key concerns for years among automakers trying to build out their electric lineups. The issues have gained more urgency in recent months due to rising competition to strike supply pacts, wild swings in raw material costs and the US administration’s push for companies to reduce their reliance on China for critical minerals.

Simon Fentham-Fletcher, founder and chief investment officer of F9, said the $1-billion has been “secured” from institutional investors. The identity of those investors has not been disclosed.

The aim is to get the mines up and running and then ultimately list the company on a stock exchange in the United Arab Emirates or Canada, Van der Burgh said.
 

Edited by Bloomberg

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
22nd May 2024
Menar MD Vuslat Bayoğlu
Menar advancing on the manganese front
21st May 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.191 0.228s - 144pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: