Sonangol is unloading 34 tanks of liquefied petroleum gas (LPG), known as cooking gas, at the Barra do Dande Ocean Terminal (TOBD), as part of the completion of that project designed to gather a storage capacity of 102 thousand meters cubic meters of that fuel, optimize the distribution and constitution of the country’s Strategic Petroleum Derivatives Reserve. The operation is complex, according to the project director, Mauro Graça, quoted yesterday by the Sonangol program at
The Angolan Debt and Stock Exchange (BODIVA) approved, on Friday 25th August, in Luanda, the requests for a Special Session to be held on the Stock Exchange and for admission to trading of the private Bonds of the Sociedade Nacional de Combustíveis de Angola, EP (SONANGOL). As explained in the statement sent to the newsrooms, the Special Session on the Stock Exchange will take place between 9:00 am and 3:00 pm on September 13th and
Revenues from Angolan diamond exports for the first six months of this year fell by 2.8 percent compared to the same period last year. From January to June, 4.66 million carats were sold, resulting in a gross value of approximately US$711.7 million. These data were released yesterday, in Luanda, by the National Director of Mineral Resources. Paulo Tanganha stressed that the main destinations for Angolan diamond exports were the United Arab Emirates, with 65.6 percent, and
According to the Presidency, the cost of compressed natural gas (CNG), a less expensive substitute for premium motor spirit, often known as gasoline, is anticipated to be N250 a liter. The Federal Government and other stakeholders have proposed using compressed natural gas (CNG) as part of their attempts to reduce the cost of public transportation following the loss of fuel subsidies, which increased the cost of the good. This was announced by Ajuri Ngelale, Special
Nigeria’s new oil minister stated last week that the country expects all four oil refineries to be ready by the end of the year, with the southern Port Harcourt facility possibly beginning operations as early as December. The Port Harcourt refinery will begin processing oil by the end of 2022, the government announced last year. However, NNPC Ltd executives and succeeding oil ministers have launched a number of fruitless plans to restart, remodel, or enlarge
Petra Diamonds’ rough prices decreased at its first tender of the fiscal year as the anticipated pickup in demand proved disappointing. The August trading session brought in $79.3 million from the sale of 696,194 carats, with like-for-like prices — those for similar categories of diamonds — falling 4.3% compared with May, the miner reported Friday. The slowdown was primarily due to flagging prices for rough between 2 and 10.8 carats, which dropped 14% on a like-for-like basis.
A US advertising watchdog has called on e-tailer Agape Diamonds to make the origins of its synthetic and simulated stones clearer. The recommendation came from the National Advertising Division (NAD) of BBB National Programs — a nonprofit that helps businesses self-regulate — after the National Diamond Council (NDC) challenged Agape’s claims, the NAD reported last week. Agape’s promotional material, including how it was presenting products for sale on its website, did not clearly and conspicuously disclose the
Vancouver-headquartered Lucara Diamond has secured a short-term extension of the maturity of its $50-million senior secured working capital facility (WCF). The company says it will defer the placement of $52.9-million in a cost overrun reserve account (CORA) by September 2. The CORA balance is currently $18.3-million. Lucara’s debt package consists of two facilities: a project finance facility of $170-million to fund the development of an underground expansion at the Karowe mine, in Botswana, and the WCF that is used to support ongoing operations.
Bullion miner AngloGold Ashanti has placed the Córrego do Sítio (CDS) mine, in Brazil, on care and maintenance, following a sustained period of poor production and costs that are well above the gold price. CDS is AngloGold’s smallest operation and produced 30 000 oz in the first six months of the year at a total cash cost of $2 278/oz and an all-in sustaining cost (AISC) of $3 031/oz. The mine produced 69 000 oz last year, accounting for only 2.5% of
De Beers will allow sightholders to defer up to half of rough purchases to early next year amid sluggish consumer demand and high midstream stockpiles, market insiders told Rapaport News. The miner wrote to customers last week, informing them that they could avoid buying parts of their allocations of 1-carat goods and larger for the rest of 2023, the sources said on condition of anonymity. The allowance is 25% by value for some boxes and 50% for others,
