Africa updatePublished by MAC on 2007-03-23
23rd March 2007
The United Nations Environment Programme (UNEP) has criticised African governments for backing huge hydro power and fossil fuel projects, while the UN and the World Bank aim to fund the search for geothermal energy sources on the continent.
Meanwhile, the World Bank/IFC has said it expects to double the number of mining-related investments in Africa. During 2006 it approved financing for three major projects: Newmont's highly controversial Ahafo gold mine in Ghana, Rio Tinto's Simandou iron ore venture in Guinea (in which the IFC has 5% equity) and Lonmin, the London-based platinum miner.