Tag Archives: cost

Cost optimisation driving renewable energy adoption at African mines

Voltalia PV Plant in Tanzania during construction

After various projects have demonstrated the value of renewables for reducing diesel, heavy fuel oil and gas consumption, mining companies can now benefit from the significant cost reduction potential that renewable energy holds, according to a newreport by THEnergy and Voltalia.

In the last
few years, more and more mining companies have adopted wind and solar systems to
reduce their energy costs at remote off-grid mines. In this first phase, the
initial focus was on the integration capabilities as miners were afraid that
adding intermittent renewables such as solar and wind could affect the
reliability of power supply and even lead to production losses.

In various microgrid applications, renewables combined with diesel,…

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Economic citizenship abuse may have cost St Kitts-Nevis between US$30 million and $130 million

St Kitts and Nevis Prime Minister Dr Timothy Harris (L) with Citizenship by Investment Unit CEO Les Khan

By Caribbean News Now contributor

BASSETERRE, St Kitts — The recently exposed but apparently still ongoing abuse of the St Kitts and Nevis citizenship by investment programme (CIP) may have already cost the country and its government between US$30 million and $130 million in lost revenue and overall economic impact.

Multiple allegations of apparent fraud in the St Kitts and Nevis CIP have surfaced recently, involving forged letters of approval, unmonitored switching from the donation option to the real estate investment option, misappropriation of client money into personal bank accounts, and illegally financed unsanctioned discounts.

Although, according to documents in…

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High Human Cost of Inter-African Migration [Report]

One thousand three hundred eighty-six migrants have died in Africa this year, according to a new report by the Missing Migrants Project (MMP). These deaths — from starvation, dehydration, and lack of access to medicine– are inflicted by the traffickers migrants hire for transport, smuggling practices, and the physical terrain.

The search for jobs is a “major driver” for migration within Africa, according to Brookings, although reasons forcing people to migrate may vary and include conflict or political instability.

The MMP report is based on survey data conducted by the Mixed Migration Monitoring Mechanism Initiative (4MI). The data focuses on the number of deaths on smuggler routes and does not include subsequent fatalities. At least 6,615 migrants

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The cost of economics’ lack of racial diversity — Quartz

On June 5, 2017, Raphael Bostic became the 15th president of the Federal Reserve Bank of Atlanta. This also made him the first African American president of any regional Fed in the US central bank’s 100-year history.

The Atlanta Fed is the main seat of the Federal Reserve’s sixth district, which covers all of Alabama, Florida, and Georgia, as well as parts of Tennessee, Louisiana, and Mississippi. Bostic’s role is to study trends in the economy, and oversee monetary policy activities and bank regulation in the region. This year he also became a voting member of the Fed’s main interest rate-setting body in Washington DC, the Federal Open Market Committee (FOMC).

The symbolism is stark. The states of the sixth district were at the heart of the country’s civil rights movement, culminating…

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Ivanka Trump’s Caribbean Getaway Cost Taxpayers $58,000

President Trump and his family are not the first ones to travel on taxpayers’ dime. But unlike other presidents, the Trump patriarch often criticized the trips taken by President Barack Obama and his family, calling their travels a waste of taxpayer money. Per the conservative watchdog group Judicial Watch, the cost of the Obamas’ travel during his eight-year tenure cost just under $100 million. By contrast, President Trump’s trips during just his first 80 days in office alone came at a price tag of $20 million. As of this summer, his frequent trips to his Florida resort have been more costly than the probe into Russia’s interference in the 2016 presidential election, which he loves to rail against.

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China is building these three African parliaments ‘at no cost’

China describes itself as the friend of Africa as it strategically offers a helping hand in the infrastructural development of the continent while it positions itself as a global superpower.

The Asian country has won the hearts of many African leaders and continental bodies with its several generous projects that have raised eyebrows among the international community and cynics who claim China’s interest in the continent is to overburden countries with debts to enable neo-colonisation.

China has emphasized on a win-win cooperation as it recently opened up its market to Africa and the world during the maiden China International Import Expo (CIIE) fair in Shanghai which was opened by Chinese President Xi Jinping.

Jinping said the fair is “a major policy for China to push for…

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