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Author: Makungu Coco

International Diamonds News

Stargems Group Expands Diamond Portfolio with Koffiefontein Acquisition

Dubai-based Stargems Group has finalized the acquisition of the Koffiefontein diamond mine in South Africa from Petra Diamonds, marking its third venture in the country’s diamond industry. Pending approval from South Africa’s Department of Mineral Resources and Energy, Stargems will assume ownership of the mine. The agreement includes a nominal cash consideration to Petra, with Stargems taking responsibility for environmental rehabilitation liabilities and site maintenance costs. Petra will avoid closure-related expenses estimated at $15 million

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Diamonds International Mining News

Winsome plans to acquire Renard diamond mine in Quebec

Winsome Resources has signed a binding agreement to secure an option to acquire the Renard diamond mine in Quebec from Stornoway Diamonds (Canada) and 11272420 Canada. The company opines that Renard can be repurposed to treat lithium bearing material. This move is expected to bolster the development of Winsome’s Adina Lithium Project and potentially other lithium deposits in the region. The acquisition includes an option for Winsome to take over the diamond mine’s processing facility

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International Gas News

Egypt Buys LNG to Avoid Summer Gas Shortage

Bloomberg reports that traders familiar with the matter have disclosed that the Egyptian Natural Gas Holding Company (EGAS) has purchased at least one shipment of liquefied natural gas (LNG) for delivery in May and is actively seeking several more. In an unusual move, Egypt has initiated the purchase of LNG in an effort to avert potential shortages this summer. The traders highlighted that the new LNG shipment is scheduled to route through an already established

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International Gas News Oil

Dangote’s Mega-Refinery Set to Transform Nigeria’s Petroleum Landscape

In May, Nigeria is poised to witness a significant shift in its petroleum dynamics as the country’s new mega-refinery, constructed outside Lagos by Africa’s wealthiest individual, Aliko Dangote, prepares to commence domestic gasoline deliveries. This development marks a pivotal moment for the nation, aimed at reducing its reliance on costly petroleum imports. According to Devakumar Edwin, Executive Director of Dangote Industries, the facility has already dispatched its inaugural petroleum products—diesel and aviation fuel—on Tuesday. However,

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International Energy News

Zambia to import an additional 40 megawatts of power from Mozambique

Zambia and Mozambique strengthened their collaboration to address Zambia’s electricity deficit by signing an agreement for additional power imports last week. The agreement, signed by Zambia’s power utility, Zesco Limited, and Mozambique’s state-owned energy firm, Mozambique Electricity (EDM), will enable Zambia to import an additional 40 megawatts of power, supplementing the existing 50 megawatts from a previous agreement. This brings the total importation to 90 megawatts, effective until June 30, 2025. Victor Mapani, managing director

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Gold International Mining Projects News

Infinity to Bolster Egyptian Mining with $1BN Investment

Russian mining firm Infinity plans to invest up to $1 billion in Egypt’s gold mining industry to boost its business portfolio and the country’s extractive sector. Infinity announced its participation in a bidding round initiated by Egyptian mining company Shalateen Mineral Resources, which aims to explore and exploit gold and associated minerals in Egypt, focusing on the resource-rich basins of Baramiya and Hamata. Infinity’s investment plan is expected to generate up to 100,000 jobs and includes the establishment of a

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Energy

Study Shows Consistency in Global Wind Power Production

Consulting firm Eoltech has released findings from a recent study examining wind resource variations over the past 15 years. The study reveals that global wind power production maintains a high level of predictability. According to the results, wind power production worldwide exhibits annual fluctuations within a range of ±3%. These conclusions are based on data from the Interstate Renewable Energy Council index, which covers 80% of onshore wind farms installed globally by 2023. “While individual

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International Economy News

Zimbabwe adopts new currency to fight galloping inflation

Zimbabwe, plunged into a serious economic crisis over the last 20 years, announced last week the adoption of a new currency called “ZiG” Zimbawe Gold (Zimbabwe Gold) and the replacement of the current Zimbabwe Dollar, to try to combat hyperinflation and stabilize the economy from the country. With inflation officially hovering around 55% after this rate reached triple digits last year, the governor of the Central Bank of Zimbabwe, John Mushayavanhu, announced last Friday the

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Diamonds Local News

Luele Mining Company Announces 119 Job Openings to Bolster Operations

Luele Mining Company has unveiled 119 job opportunities across various fields to strengthen its workforce and enhance operations at the mine. According to Constantino António, the head of provincial services at the National Institute for Employment and Vocational Training (INEFOP) in Lunda-Sul, positions available include service assistants, safety personnel, firefighters, machine operators, technicians, engineers, and specialists in various fields. Interested candidates are required to register at INEFOP with necessary documents, including their ID, passport-sized photos,

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News Mining

Geoangol’s Interim Director Urges Quality Boost in Borehole Drilling Amid Mining Expansion

Domingos Kimba Baptista, the interim director general of Geoangol, emphasized the need for Angola to enhance the quality of borehole drilling services to meet the rising demands of internationally renowned mining companies entering the country. In his first interview since assuming the position, Baptista highlighted the challenges ahead for Geoangol. “With the arrival of global giants like Anglo American, Rio Tinto, and De Beers, our focus is on upgrading our operational procedures to match their

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