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Highlights
- Mining giant Anglo American PLC’s shares surged almost 5 per cent today, making it the highest riser on the FTSE 100 index.
- The group selected energy firm Pele Green Energy and French utility company EDF Renewables to build a 100 MW solar PV project at Amplants’ Mogalakwena mine in South Africa.
- The group plans to launch 9 pilot projects after completing a hydrogen corridor feasibility study in South Africa.
UK-based multinational mining firm Anglo American PLC’s (LON:AAL) shares jumped almost 5 per cent today after the group selected independent energy firm Pele Green Energy and France-based utility company EDF Renewables to develop a solar photovoltaic plant.
Following the completion of a feasibility study, the group also discovered that South Africa could become a potential major hydrogen hub for some key industries like mining, constriction, industrial and transport.
The company became the highest riser on the FTSE 100 blue-chip index, which it is a constituent of, following the news.
Anglo American PLC’s (LON: AAL) share price performance
Anglo American’s shares were trading at GBX 2,824.00, up by 4.94 per cent on 11 October 2021 at 14:43 hrs BST. Comparatively, the FTSE 100 index was trading at 7,125.68, up by 0.43 per cent.
(Image source: EODHD/Others)
Anglo American’s market cap was at £36,419.28 million, and its one-year return was at 45.59 per cent, as of 11 October.
Anglo American’s solar PV project
The mining giant’s solar project, which is being developed by Pele Green Energy and France based utility company EDF Renewables, will be of 100 MW.
The project is expected to be located at Anglo American Platinum’s (Amplants) Mogalakwena mine in the Limpopo Province in South Africa.
The project is reportedly set to start construction in Q4 2022, and operations are expected to begin by the end of 2023. Amplants has targeted all of its operations to become net-zero by 2040
Anglo American’s hydrogen feasibility study
Following the completion of the hydrogen feasibility study, the group plans to launch nine pilots in 3 major hubs across South Africa, which could help the country become a global hydrogen hub.
The hubs include the area between Johannesburg to Rustenburg and Pretoria, Durban and Richards Bay, and finally, the Limpopo province area around Amplants’ Mogalakwena mine.
The study was done by Anglo American Platinum in collaboration with South Africa's Department of Science and Innovation (DSI), the South African National Development Institute (SANEDI), French utility firm Engie and clean energy solutions firm Bambili Energy.
