Glencore Alloys' plans for decarbonization and solar power are gaining prominence as the company prepares to construct its first 25 MW solar plant, as announced by Glencore Alloys head Japie Fullard during a recent media call. Glencore Alloys, a prominent ferrochrome producer and a major primary vanadium producer, has obtained all necessary approvals to initiate construction at the Rhovan vanadium operation located about 30 km northwest of Brits in South Africa's North West province.

In addition to the solar plant, Glencore Alloys is actively engaged in other renewable energy endeavors. As part of a virtual power purchase agreement process, the company is collaborating with two independent power producers (IPPs) to obtain wheeled energy. One IPP project is nearly 95% complete and is anticipated to yield 200 MW, while the other, about 40% complete, is projected to generate 150 MW of solar energy. These initiatives represent a significant step forward in the company's commitment to sustainable energy practices.

Glencore Alloys is a leading producer and distributor of chrome ore, ferrochrome, vanadium, manganese ore, and alloys. As part of its decarbonization efforts, the company is exploring on-site projects that involve the conversion of operational offgas into electricity, a process known as cogeneration.

Peter Freyberg, head of Glencore Industrial Assets, elaborated on the company's comprehensive decarbonization strategy. He commended Glencore Alloys' South African ferroalloys team for their proactive approach to decarbonization, driven by both necessity and responsibility. The company, listed in London and Johannesburg, has set a short-term target to reduce total Scope 1, 2, and 3 emissions by 15% by 2026. The company is well on track to achieve these goals and is implementing measures to accomplish its objectives by 2035.

Freyberg emphasized Glencore Alloys' focus on Scope 2 emissions, which account for a significant portion of the company's emissions. The company is rapidly transitioning from carbon-intensive electricity sources to renewable alternatives, aligning with global efforts to combat climate change. Freyberg also highlighted initiatives related to waste heat utilization, electrification of mining fleets, fuel switching, and solar projects as crucial components of the company's decarbonization strategy.

Addressing the transition away from coal operations in South Africa, Glencore Coal CEO Murray Houston emphasized the company's alignment with the Just Energy Transition. The company's long-term planning and strategic assets fit well within the early stages of this transition. Glencore is actively engaging with the coal leadership forum at the Minerals Council South Africa to navigate the challenges of this regional transition, which involves key stakeholders such as Eskom, Transnet, and Sasol.

Regarding Glencore's subsidiary Astron's petroleum operations, CEO Gary Nagle expressed confidence in the business's performance. Astron's crude oil refinery, operating at full capacity, plays a crucial role in processing crude oil into a range of products. Nagle emphasized the company's commitment to local beneficiation and its hope for favorable regulatory environments to support competitive local processing.

Nagle highlighted Astron's success in rebuilding the refinery and emphasized the company's dedication to maintaining refining margins. He also discussed Astron's role in refining various crude oils and promoting local beneficiation efforts. The refinery's processes, including distillation, hydrotreating, cracking, and reforming, contribute to the production of essential petroleum products.