Russia has increased its fuel exports to Senegal, according to traders and data from financial information company The London Stock Exchange Group (LSEG). Oil supplies to Senegal hit 550,000 metric tons in the first two months of 2024 alone. In comparison, exports totaled 1.08 million tons for the entirety of 2023 and 0.37 million tons for 2022. LSEG attributes the rise in exports to heightened demand for bunker fuel as companies redirect cargo via the
Independent power producer Astra Energy has partnered with the Lesotho National Development Corporation to develop a 100 MW renewable energy project in Lesotho. Under a public-private partnership model established with Astra Energy’s agent Aztec Management Consultants, the project will double Lesotho’s current installed electrical capacity –currently estimated at 77 MW. “The project will improve the reliability of the electricity supply, which is essential for a growing economy. Successful completion of the project will also create
The US has sanctioned Zimbabwe President Emmerson Mnangagwa for corruption in connection with gold and diamond smuggling, as well as human-rights abuses. The Treasury Department’s Office of Foreign Assets Control (OFAC) has accused Mnangagwa of “providing a protective shield” to gold- and diamond-smuggling networks that operate in Zimbabwe, it said last week. He is also accused of directing Zimbabwean officials to “facilitate the sale of gold and diamonds in illicit markets” and taking “bribes in
Petra Diamonds has started with a recruitment process to appoint a successor to CFO Jacques Breytenbach, who has resigned owing to personal reasons. Breytenbach will remain in his role until the delivery of the company’s full-year results at the end of September and to ensure a smooth transition of his responsibilities. Should a new CFO be appointed before this, Breytenbach will step down earlier. Petra CEO Richard Duffy says Breytenbach has been a highly valued
Debswana Diamond Company’s sales of rough diamonds fell 25.1% in 2023, data released by Botswana’s central bank late last week showed, as an economic slowdown hit demand for luxury items in the US and China and competition from lab-grown gems increased. Debswana, equally owned by Botswana and Anglo American’s De Beers, sells 75% of its output to De Beers with the balance taken up by State-owned Okavango Diamond Company (ODC). The central bank said Debswana
Ahead of new diamond import requirements from Group of 7 (G7) nations, starting on March 1, diamond producer De Beers Group says it anticipates no disruption to its diamond supply. The group reiterates that it fully supports the G7’s intentions to prohibit the import of Russian diamonds and emphasises the efforts it has taken to provide assurance on the provenance of the diamonds it produces. “Over more than a decade, De Beers has developed proprietary
The contract signed between the Mozambican government and SGS, a company specializing in verifying the specifications, prices, and quantities of the country’s mining export products, at the end of last year has now been approved by the Administrative Tribunal (TA). SGS, renowned for its expertise in inspection, verification, testing, and certification of mining exports, is now poised to commence operations as contracted through international public tender. Having already established a presence in the Mozambican market
The deadline for selling 37.47% of the shares in the Angolan oil exploration company, ACREP, via the Angolan Debt and Stock Exchange (BODIVA), has been extended until 3pm on the 15th of this month, a decision ratified by the Capital Market Commission (CMC). Initially, interested parties and investors could purchase shares between February 19th and March 1st, 2024. However, the extension is attributed to various factors, including the surge in requests for account openings towards
The Executive Board of the International Monetary Fund confirmed that 2023 was a difficult year with many challenges, but that the foundations for recovery in 2024 and contributions from 2025 have been laid. The Executive Board of the International Monetary Fund (IMF) expects economic growth in Angola to recover in the short term. This scenario will result in improved oil production and the recovery of the non-oil sector. The information is contained in the final
Mozambique broke the gold production record in 2023, with more than 1.6 tons, above the projection for last year and for 2024, budget execution data indicates. According to a report from the Ministry of Economy, cited by Lusa, with the budget execution from January to December, the country produced 1,666.4 kilograms of gold, an increase of 32% compared to 1,263.8 kilograms in 2022, already a record. Each kilogram of gold is currently worth almost 67
