Electric vehicles get the go-ahead
Together with the Departments of Trade and Industry (DTI) and Science and Technology, the IDC is working to determine and finalise a comprehensive role for government in the establishment of an electrical vehicle industry. Minister of Trade and Industry, Rob Davies reaffirmed government’s commitment, saying that exploring the prospects for establishing an electric vehicle industry was part of the recently announced Industrial Policy Action Plan. “Efforts are under way to provide investment support to local manufacturing for both the electric vehicle and its components, including the battery,” Davies said in a reply to a parliamentary question.
Local film industry gets boost from IDCAlong with the Department of Trade and Industry, the IDC has supported the making of A Million Colours: e’ Lollipop II, which will premier at the Cannes Film Festival this year. The film is headed by Canadian director Peter Bishai, who says the film parallels a mixture of Slumdog Millionaire and Romeo & Juliet. The film is inspired by the true story of what happened to the young stars of the original e’Lollipop and is being shot in KwaZulu-Natal.
IDC funding helps mining dealGold mining company Village Main Reef will leverage the benefits of R142m of existing capital already raised from the IDC to fully fund a landmark transaction. Village has concluded binding agreements to acquire a controlling stake in precious-metals miner Lesego Platinum in a R507m all-share deal. Village also acquired the remaining minority interest in the Phosiri project to add an inferred 3,8m ounces of platinum-group metals and gold to the existing 17,5m ounces.
