Anglo American inks MOU with EDF Renewables

Mining giant Anglo American has inked a memorandum of understanding with EDF Renewables to secure a 100% renewable energy supply for its South Africa operations.

Anglo American said on Friday that the duo will work together towards developing a regional renewable energy ecosystem in South Africa, with the ecosystem expected to be designed to meet Anglo American's operational electricity requirements in the nation through the supply of 100% renewable electricity by 2030.

The FTSE 100-listed firm stated that the regional renewable energy ecosystem will draw on South Africa's natural renewable energy potential to develop a network of on-site and off-site solar and wind farms, amongst other opportunities, offering 24/7 renewable energy to Anglo American's operations.

Separately, Anglo American revealed it had commissioned the Benguela Gem diamond recovery vessel ahead of schedule and below budget.

Anglo American said the Benguela Gem, a 50/50 joint venture between De Beers and the Government of Namibia, will add an additional 500,000 carats of high-value diamonds to annual marine production, an increase of around 45%, following an investment of approximately $420.0m.

As of 0835 GMT, Anglo American shares were up 1.51% at 3,709.0p.