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Market Chatter: Japan Advances Energy Loan Talks With South Africa, Promotes Ammonia Co-Firing
Japan is accelerating talks on a yen-denominated energy loan for South Africa while promoting ammonia co-firing technology, Bloomberg said Tuesday, citing Japanese diplomatic officials.Japan will use the proposed loan to support South Africa's energy transition, though it did not disclose the amount, the report said, citing officials.Japan's initiative adds to about $10 billion in climate financing already pledged to South Africa by European countries under an existing energy transition agreement.Germany and Japan are expanding efforts to position their companies in South Africa, targeting opportunities in a market with strong solar and significant green hydrogen production potential.Leaders first discussed the loan during a meeting between President Cyril Ramaphosa and former Japanese Prime Minister Shigeru Ishiba in Yokohama in August, the report added.Japan is promoting ammonia co-firing, which replaces part of coal use at power plants with ammonia to reduce emissions while maintaining existing infrastructure.South Africa can produce green hydrogen using its solar and wind resources, then convert it into ammonia for easier storage and transport, supporting cleaner energy pathways.However, critics say ammonia co-firing could extend the life of coal plants, as South Africa still generates about three-quarters of its electricity from coal, the report noted.has reached out to South Africa's Department of Electricity and Energy for any comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Australia
Brunswick Keeps Quarterly Dividend at $0.44 per Share, Payable June 15 to Holders of Record May 18
Price: $78.25, Change: $+3.79, Percent Change: +5.09%
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Ero Copper Upgraded To Outperform From Sector Perform With National Bk on FCF Outlook and "Relative Insulation from Ongoing Cost Pressures"
Price: $34.47, Change: $+1.12, Percent Change: +3.36%
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