It was confidently billed at the time as the “deal of the century”. The Sino Congolaise des Mines (Sicomines) was the most significant Chinese investment project in Africa when it was agreed in 2007. The infrastructure agreement gave Chinese partners mining rights to cobalt and copper in the Democratic Republic of Congo (DRC). These minerals are used in electric vehicle batteries and electronics, including smartphones and laptops. In exchange, China agreed to build much-needed infrastructure projects such as urban roads, highways and hospitals. In addition to new infrastructure, the Sicomines…
Read MoreDay: Apr 4, 2019
Eskom’s Medupi and Kusile to cost R36bn to complete, will not be halted – Mabuza
Construction on the Medupi and Kusile power stations will go ahead as the cost of halting the projects will not benefit the economy, the Chairperson of the Eskom board Jabu Mabuza has said. The power plants are expected to cost R18 billion each. Mabuza was speaking at a media briefing on the state of SA’s power supply on Wednesday along with other Eskom executives and Public Enterprises Minister Pravin Gordhan. The building of the coal-fired power stations, which started in 2007 and 2008, has been hit by cost overruns, poor…
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