IDC eager to finance clean mining
As part of its drive to be a key player in South Africa’s just energy transition, the Industrial Development Corporation (IDC) is open for networking at this year’s Investing in African Mining Indaba, which is a physical event this year, and being held in Cape Town, from May 9 to 12.
The corporation is looking to partner with mining entities looking to transition to clean mining, as well as those interested in adopting renewable energy.
“As a leading financier to the mining industry, we are looking for investment opportunities that seek to add value to the industry or the economy,” says IDC CEO TP Nchocho.
The regulatory reforms recently announced by government, especially in the energy sector, brighten the IDC’s outlook on it future role in mining.
The corporation is particularly encouraged by mining houses being allowed to produce up to 100 MW of distributed generation without licensing, under the new self-generation regulation framework.
The IDC says it is confident in South Africa’s ability to be a global energy transition leader and to deliver social and employment benefits in the process.
The IDC’s investment is informed by its own adopted internal theme “investing in an eco-conscious Africa that is mine”.
“The Indaba is a space for unmissable, high-impact networking, creating many opportunities for dealmaking. The fact that we will have industry and government dignitaries drawn from the rest of the continent is encouraging to our investment prospects.
“The rest of Africa is endowed with minerals of the future, and we need to invest in those countries for us to have access to minerals such as cobalt, for example. Still, our most important objective is to strengthen regional economic development through investment,” concludes Nchocho.
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