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Author: Makungu Coco

Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed Lucara Diamond reported lower revenue and earnings for 2025 as the company continued advancing the underground expansion of its flagship Karowe Diamond Mine in Botswana, while warning that additional financing will be required to complete the project. For the year ended December 31, 2025, Lucara sold 353,302 carats, down from 399,215 carats in 2024. Revenue declined to C$159.7 million, compared

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Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine Global rare earths investment platform Cascade Natural Resources has increased its strategic investment in London-listed Pensana to $165 million, strengthening support for the company’s US-focused mine-to-magnet supply chain strategy. Cascade had initially committed $100 million, but the revised agreement expands the investment to accelerate development of key rare earth assets, particularly the Longonjo Rare Earths Project in Angola. Under the

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Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset Deal Seplat Energy Plc has restored 49 previously idle wells to production following its US$1.28 billion acquisition of onshore and shallow-water assets from ExxonMobil, adding significant new capacity as part of a broader offshore turnaround strategy. The company confirmed in its latest audited financial results that the well restoration campaign was a key driver of offshore growth in 2025. Cost-Efficient

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Corporate News Gas International

Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit

Eni Expands Position in Algeria’s Touat Gas Field Following Engie Withdrawal Eni has increased its stake in Algeria’s onshore Touat natural gas project after Engie formally exited the development, according to a presidential decree issued by Algerian authorities. The decree approves amendments to the hydrocarbon contract covering the Touat perimeter, which comprises blocks 352A and 353 in the Adrar region of southwestern Algeria. Under the revised ownership structure, Eni acquires 8% of Engie’s former interest,

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Oil Corporate News International

Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development

Nigeria Splits OPL 245 Into Four Blocks as Shell and Eni Move to Develop 9-Billion-Barrel Deepwater Reserve Nigeria has restructured its high-profile OPL 245 deepwater oil block into four separate assets to be jointly developed by Shell Plc and Eni SpA, potentially unlocking one of Africa’s largest undeveloped offshore oil reserves. According to a source familiar with the decision, final contract signings are expected to begin shortly, although the government has yet to make a

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Local News Transport and Logistics

Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations

Port of Lobito Renews 15-Year Towing and Marine Services Concession with Timoneiro Port of Lobito has renewed its concession agreement with Timoneiro for towing, berthing and vessel assistance services for an additional 15 years, reinforcing operational continuity at one of Angola’s key logistics hubs. The agreement was formalised on Thursday in Lobito and marks a new contractual cycle set to commence on 17 May 2026. Strategic Commitment to Maritime Safety Speaking at the signing ceremony,

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Local Mining Projects News Oil

Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province

MIREMPET Evaluates Solid Minerals and Hydrocarbon Potential in Icolo & Bengo Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) on Monday reviewed the mineral, oil and gas potential of Icolo e Bengo during a high-level meeting with provincial officials and sector technicians. The session, led by Minister Diamantino Azevedo, focused on assessing ongoing activities in the province and identifying mechanisms to strengthen institutional coordination, regulatory oversight and sector development. According to the minister, as one

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International News Oil Petroleum

Nigeria to Launch Cawthorne Crude Exports as Output Recovers

Nigeria Introduces Cawthorne Light Sweet Crude to Boost Exports and Strengthen OPEC Position The Nigerian National Petroleum Corporation has announced plans to begin exporting a new light, sweet crude grade known as Cawthorne from March, signaling a gradual recovery in production from Africa’s largest oil exporter. The launch of the new grade comes as Nigeria works to restore output levels that have been constrained for years by pipeline vandalism, crude theft and security challenges in

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Renewable Energy International News

Egypt and Scatec Discuss Expanding Renewable Energy and Green Investment

Egypt Boosts Renewable Energy Ambitions as Minister Farid Meets Scatec CEO to Expand Solar and Battery Projects Egypt is strengthening its push toward renewable energy and green investment following a high-level meeting between Minister of Investment and Foreign Trade Mohamed Farid and Terje Pilskog, CEO of Scatec. According to a ministry statement, discussions focused on expanding cooperation in renewable energy development and scaling up sustainable investment projects across the country. Scatec is an established player

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Local Mining Technology & Innovation

Angola Launches Digital Mining Registry to Modernise Licensing and Boost Transparency

Angola Implements Digital Mining Registry (CMA) to Streamline Licensing and Attract Investment Angola has taken a major step toward modernising its mining sector with the appointment of a Multidisciplinary Technical Commission to oversee the digitisation of the licensing process for mining activities. The initiative follows the implementation of the Angola Digital Mining Registry System (CMA) and forms part of the country’s broader public administration digital transformation agenda. The reform is aligned with Objective 37.1 of

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