https://africaautomotivenews.com/2019/09/16/hyundai-enters-somaliland-car-market/
Hyundai enters Somaliland car market
Hyundai has launched a series of models in Somaliland capital Hargeisa after partnering with Dahabshiil Motors to introduce the brand new vehicles
By Africa Auto News - September 16, 2019
the guy wearing sunglasses and a red tie. he is minister jama mohammed egal, the minister of energy
&mining (MoEM) and a very key man in the country.
South Korea car manufacturer Hyundai has entered into the Somaliland market. Hyundai is the latest multinational company to venture into the Horn of Africa via Somaliland. Hyundai has launched a series of models in Somaliland capital Hargeisa after partnering with Dahabshiil Motors to introduce the brand new vehicles in the Horn of Africa country.
By venturing into Somaliland, Hyundai joins Coca-Cola in the country that is seeking international recognition but boasts of a huge potential for international investments.
HORN OF AFRICA
The South Korean car manufacturer has partnered Dahabshiil group of companies to introduce Hyundai model of cars to the horn of Africa region.
“Hyundai automotive business is not going to be limited to Somaliland, but aims at Horn region as a whole,” said Dahabshiil Motors Chief Executive Officer Engineer Awil Sharif.
“In view of the ongoing developmental projects in Somaliland such as the expansion of Berbera port and the plan to create a free trade zone plus the construction of Berbera corridor highway, we are optimistic that the entry of Hyundai will have great impact in the motoring industry. Our strategic plan includes expanding business to other Somali regions and East Africa,” he affirms.
He said they have introduced eight Hyundai models in the country. The models include Grand Santa Fe, Santa Fe, Tuscon, Creta, Elantra, Grand i10, a 14 seater commercial bus, and light track.
“Most countries in Africa import four or five models. We started with eight models and will bring more models in future depending on customers’ demand,” Mr Sharif added.
SIX MONTHS
The entry of Hyundai in Somaliland comes just six months after the company opened a 10,000-a-year vehicle capacity assembly plant in the Ethiopian capital Addis Ababa.
The Hyundai company operates the largest integrated automobile manufacturing facility in Ulsan, South Korea with an annual production capacity of 1.6 million units.
The company employs about 75,000 people worldwide. Hyundai vehicles are sold in 193 countries through some 5,000 dealerships and showrooms.
Dahabshiil Motors, who are the sole distributors of Hyundai vehicles in Somaliland and Somali regions are offering direct purchase and bank financing.
“Dahabshiil Motors’ Hyundai can be purchased through Murabaha (the Islamic financing bank system). We are part of the Dahabshiil Group, so, our customers can buy our cars on finance,” stated the CEO
SAFETY
In terms of the automotive business, the company measured safety-related matters, environmental pollution problems and user comfortability before importing brand new Left Hand Drive quality vehicles to replace Right Hand Drive vehicles,” stated Mr. Sharif.
The entry of Hyundai in the Somaliland comes at a time when the country’s Ministry of Transportation announced it will ban imported Right-Hand Drive vehicles by 2020. Somaliland is also taking drastic steps to ensure safety on the country’s roads and reduce the effects of vehicle emissions created by unroadworthy cars.
https://samsungsomaliland.ueniweb.com/
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https://www.taipeitimes.com/News/biz/archives/2021/12/22/2003769973
Wed, Dec 22, 2021 page12
CPC Corp signs a deal to explore oil area in Somaliland
By Lisa Wang / Staff reporter
CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it had signed an agreement with Genel Energy PLC to secure 49 percent working interest of the SL10B13 block in Somaliland.
OPIC Somaliland Corp (OSC) would explore the oilfield and all of OPIC’s capital investment would come from CPC, the Taiwanese firm said.
The state-run refiner declined to disclose financial terms, but CPC spokesman Chang Ray-chung (張瑞宗) said that this is the biggest oilfield exploration deal it has been part of in terms of prospective resources.
A Genel Energy PLC employee inspects equipment in a promotional photograph.
Photo courtesy of Genel Energy PLC
Under the agreement, OSC would receive a 49 percent working interest in the block for a cash consideration of 49 percent of all of Genel’s historic back costs, plus a cash premium.
Genel previously held a 100 percent working interest and would continue as the block’s operator.
The block has a lot of potential, as it has multiple stacked prospects with more than 5 billion barrels of prospective resources identified in a 2D seismic data acquisition that was completed in January 2018, Genel said in a statement.
“Somaliland is a highly prospective and largely unexplored region, with a compelling technical case for the drilling of a well,” Genel technical director Mike Adams said in the statement. “Oil seeps confirm a working petroleum system and one prospect alone could target over half a billion barrels across multiple stacked reservoirs.”
The field partners would work together to plan exploration drilling, with an aim to drill a well in 2023, the statement said.
A well can be drilled for an estimated gross cost of about US$40 million.
The SL10B13 area is about 150km from a port at Berbera, offering a route to international markets.
The agreement has been approved by the government of Somaliland.
https://www.mining.com/web/us-gathers-resource-rich-nations-to-push-minerals-security-pact/
US gathers resource-rich nations to push minerals security pact
Bloomberg News | September 22, 2022 | 11:36 am
The Mineral Security Partnership (MSP) includes Australia, Canada, Finland, France, Germany, Japan, ROK, Sweden, US and the European Commission. Credit: Official Twitter account of the Under Secretary for Economic Growth, Energy, and the Environment
The Biden administration plans to use a gathering of resource-rich nations to spur new investment as part of its bid to shift the supply chain for rare-earths minerals away from China.
The Minerals Security Partnership between the US, EU, Japan and other wealthy nations is holding a ministerial meeting Thursday at the United Nations General Assembly with nations that possess minerals such as lithium, manganese and cobalt.
The developing nations taking part include Argentina, Brazil, Chile, the Democratic Republic of the Congo, Indonesia, Mongolia, Mozambique, Namibia, the Philippines, Tanzania and Zambia. US Secretary of State Antony Blinken is set to chair the meeting
The initiative, launched in June, is designed to funnel investment toward developing countries with mining projects that adhere to stricter environmental, social and governance standards.
“We created this to deal with a supply chain vulnerability that we’ve known has existed a long time,” Under Secretary of State Jose Fernandez said in an interview in New York. “But the pandemic has taught us that these vulnerabilities need to be addressed and minimized. And what we’re hoping to do is to galvanize investment, financing and other agreements.”
The critical mineral supply chain remains almost totally dominated by China, which controls most of the market for processing and refining minerals such as cobalt, lithium and other rare earths.
“It’s about providing options,” Fernandez said, when asked whether the partnership was a strategic initiative to counter Beijing. “If we’re successful, the Chinese will also gain as well, and that will be to the benefit of producing countries.”
The minerals initiative may also get a boost from recent legislative efforts in Washington. Fernandez referred to a recent trip to lithium-rich Mexico last week, where he told local officials that “now’s the time to partner” on projects that might to benefit from tax credits under the Biden administration’s Inflation Reduction Act.
“There is momentum — the funding that is provided in the IRA is substantial,” Fernandez said. “It should allow us to to promote responsible critical mineral production in a way that supports ESG goals.”
In the coming months, the US intends to continue meeting with mineral-rich nations and identify some of the first mining projects to benefit from the minerals security pact.
(By Iain Marlow)