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IOL News
a day ago
- Business
- IOL News
Colenso power project: Almost R10 billion investment to create thousands of jobs in KZN
Colenso Power Project, while privately funded, is a catalytic investment and is valued at R9.78 billion. Image: Independent Newspapers Archives A multibillion-rand energy project that is underway in Colenso, in northern KwaZulu-Natal is expected to create thousands of jobs in the town as well as in Estcourt and Ladysmith. The Colenso Power Project is valued at close to R10 billion and has been in the planning phases for some time, undergoing various legal compliance processes. The KZN Department of Economic Development, Tourism and Environmental Affairs (Edtea) stated that this project is critical in ensuring that the province's economy is not concentrated in major cities. Edtea said the Colenso Power Project, while privately funded, is a catalytic investment supported by the Department through packaging and facilitation. Valued at R9.78 billion, it features a hybrid base-load power facility utilising clean fuels, hydrogen, and battery storage, marking a national-scale anchor for the uThukela District. Documents related to the project indicate that it will significantly increase employment opportunities for local communities. It is anticipated to generate 10,000 jobs for the Alfred Duma Local Municipality and the Inkosi Langalibalele Local Municipality, with 15% of these jobs allocated to the Colenso community. In addition to creating employment opportunities, it will bring in experienced and well-known foreign contractors, investors, and project management teams that will collaborate closely with local communities. Debbie James, the CEO of Colenso Power, detailed the implementation plan for the project. 'Colenso Power is developing a large-scale Clean Fuels and Chemicals plant along with a Hybrid Solar PV and Hydrogen Gas Turbine.' Video Player is loading. 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Advertisement Next Stay Close ✕ Ad loading The Clean Fuels and Chemicals plant will produce 700 tons of hydrogen, 1,000 tons of ammonia, and 5,000 tons of fertiliser per day. 'Our goal is to establish South Africa's first 'Absolute Zero' Clean Fuels, Chemicals, and power plant.' She explained that Phase 1 involves the construction of four 375 MW Solar PV plants, four 75 MW Hydrogen Electrolyser plants, and the 600 MW Hydrogen Gas Turbine Combined Cycle power plant over three years. Phase 2 will see the construction of the Clean Fuels and Chemicals plant in parallel to Phase 1 over five years. James noted that the types of work available will include in the fields of civil construction, mechanical construction, heavy industrial construction, and electrical infrastructure construction, catering to unskilled (construction services, security, manual labour, etc.), semi-skilled (trained assembly and installation), and skilled labour (engineering, artisanal, supply chain/logistics, project management, accounting, and administration). 'Full notice to proceed is planned for Q3 2025,' she said, adding that the award of contracts for some work is expected next month. The mayor of Inkosi Langalibalele Municipality, Mduduzi Myeza, stated that the project would be critical in uplifting the local community. 'We will soon be meeting with the people leading the project to get specifics on how it is unfolding, but what we can say is that this will uplift the community. The area close to where the project is being carried out is a deeply rural community with limited opportunities, so this project will have a significant impact.' MEC for Economic Development, Musa Zondi, emphasised the project's importance in reviving small towns. 'If you consider all the other small towns in the province, they have been struggling since the decline of the coal industry. This project presents an opportunity to create jobs and revitalise those small towns,' he said. Mafika Mndebele, chairperson of the Edtea committee in the KZN Legislature, said the project was a bold and catalytic intervention which could revitalise the economic fortunes of small towns like Colenso. 'The committee views this project not merely as an energy-generation initiative, but as a strategic lever for inclusive economic transformation in the uThukela District. Given the region's history of industrial decline and rising unemployment, a project of this magnitude offers renewed hope for job creation, local infrastructure development, and enterprise stimulation—particularly in construction, transport, and support services.' 'Furthermore, the committee is encouraged by the project's alignment with South Africa's Just Energy Transition goals, incorporating clean fuel technologies, hydrogen energy, and battery storage. If implemented responsibly, with strong community engagement and regulatory compliance, the Colenso Energy Project could serve as a model for how energy investments can drive regional development while advancing our commitments to environmental sustainability and energy security,' he concluded. THE MERCURY
Associated Press
29-04-2025
- Business
- Associated Press
Granite Creek Sells Hydrogen Projects
VANCOUVER, BC / ACCESS Newswire / April 29, 2025 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCPK:GCXXF) ('Granite Creek' or the 'Company') is pleased to announce that the company has entered into a sale and purchase agreement with Buscando Resources Corp. (CSE:BRCO) for the sale of the Company's wholly owned subsidiary, Element One Hydrogen Corp. The sale includes the Union Bay and Star Projects as well as the Element One Hydrogen brand. Granite Creek will receive total consideration of $150,000 CDN for this transaction. The transaction is expected to close within 30 days. The Company will retain the rights to any re-imbursement for work completed on the Star project for 2024 and 2025 through the NRCan funded research project being completed in partnership with Kemetco Research (see news release dated February 24, 2025). The company will also retain the rights to any payments due to the company in connection with the first year of the option agreement the Company entered into with 1508260 B.C. Ltd (see news release dated December 17, 2024) About Granite Creek Copper Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company's projects consist of its flagship 177 square kilometer Carmacks project in the Minto copper district of Canada's Yukon Territory on trend with the formerly operating, high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company's website at FOR FURTHER INFORMATION PLEASE CONTACT: Timothy Johnson, President & CEO Telephone: 1 (604) 235-1982 Toll Free: 1 (888) 361-3494 E-mail: [email protected] Website: Qualified Person Debbie James has reviewed and approved the technical information pertinent to Ni-Cu-PGM mineralization contained in this news release. Ms. James is a Qualified Person as defined in NI 43-101. Forward-Looking Statements Forward Looking Statements: This news release includes certain statements that may be deemed 'forward-looking statements' or 'forward-looking information'. All statements in this release, other than statements of historical facts including, without limitation, statements regarding expected use of proceeds from the private placement and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Granite Creek Copper Ltd. press release
