African Mining Indaba: African Rainbow Energy, Fortescue Future Industries partner on green hydrogen

Fortescue Future Industries and African Rainbow Energy have announced an exciting partnership in the green energy sector, paving the way for a groundbreaking collaboration that aims to drive the energy transition in South Africa. The news of this partnership was revealed on the side-lines of the 2023 African Mining Indaba, where CNBC Africa's Fifi Peters had a conversation with African Rainbow Energy CEO, Brian Dames, and Bruh Ayele Terfie, President at Fortescue Future Industries. The partnership between the two companies is a testament to their shared vision of sustainability and commitment to addressing climate change through innovative solutions in the minerals industry and energy sector. One of the key themes of the partnership is the exploration of green hydrogen as a future source of energy, marking a significant step towards decarbonizing the world's economies in a just and sustainable manner. The collaboration is timely as the global momentum for the energy transition continues to build, with a growing urgency to combat climate change and deliver sustainable solutions for the planet and economies. Both companies have already begun exploring their capabilities in developing and delivering renewable energy projects in South Africa, with a focus on finding customer-centric solutions for hard-to-abate industries. By leveraging their respective experiences and investments in the hydrogen sector, African Rainbow Energy and Fortescue Future Industries aim to pioneer the green hydrogen economy not only in South Africa but also across the continent. The partnership is poised to open new commercial opportunities for both companies and set a precedent for sustainable business practices in the energy sector. Africa Rainbow Energy, known for its strong credentials in the renewable sector and close ties to the resources industry, brings valuable expertise and investments to the table, complementing Fortescue Future Industries' commitment to decarbonisation and sustainable business operations. As the exploration of the green hydrogen economy gains momentum, the partnership between African Rainbow Energy and Fortescue Future Industries is expected to lead to the development of globally competitive projects that can deliver tangible returns for shareholders. Both companies are dedicated to building a robust business case for green hydrogen production, with a focus on energy security, affordability, and sustainability. The potential of green hydrogen to enhance South Africa's energy security in the future holds promise for a more sustainable and resilient energy system in the country. By addressing the energy needs of large industries and transitioning to a more sustainable future, green hydrogen offers a viable solution for high-energy-density applications that are essential for industrial operations. The partnership's strategic focus on starting locally and scaling globally underscores a commitment to creating a competitive value chain for green hydrogen production and distribution. With a clear vision for the future, African Rainbow Energy and Fortescue Future Industries are poised to chart new territories in the green energy sector and drive positive change for a sustainable future.