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Author: Makungu Coco

Gas International News

Algerian LNG Attracts Interest from Bangladesh

Bangladesh has expressed strong interest in importing Liquefied Natural Gas (LNG) from Algeria, given the country’s rising energy demands. During a meeting with his Algerian counterpart Ahmed Attaf, Bangladesh’s Foreign Minister Dr. Ak Abdul Momen emphasized the critical significance that partnerships between the two countries may play in properly tackling this energy crisis.  As such, Algeria and Bangladesh are actively developing a time-bound plan to strengthen collaboration, particularly in growing areas of mutual interest. In addition to LNG, areas of

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Energy International News

Bitcoin Funds Solar Project in South Africa

Renewable energy company Sun Exchange has announced that bitcoin will be used to fund a large solar power project in South Africa. The 198-kV solar project will provide clean and affordable power to the country’s Pretoria Boy’s High School. Bitcoin has been used by a private investor to purchase 98% of all solar cells for the project, which will offer zero capital cost for the school while reducing its energy bill and reliance on diesel

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Diamonds Economy Local News

Global Crisis Stifles Nearly One Million Carats of Diamonds

The ongoing global financial crisis has led to the withholding of approximately one million carats of diamonds produced in Angola over recent months. José Manuel Ganga Júnior, President of the Board of Directors (PCA) of Endiama, reported this development on August 30th in Dundo, Lunda-Norte province. When speaking at the opening of the semi-annual balance of diamond production in the country, the manager clarified that, at the moment, the sector is faced with price proposals

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Economy Local News Petroleum

Angola’s Fuel Exports Skyrocket as Leading Export Commodity

Fuel has become Angola’s most exported product, reaching the mark of 94.9% of exports in 2022. In percentage terms, ores and minerals represented the second most exported product, making up 4.3% in the year in question.The data was released this Wednesday 30th August by the Ministry of Mineral Resources, Oil and Gas, on Facebook, which cites the National Bank of Angola as the source of the 2022 export balance.Equipment and machinery, food, wood and cork,

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Gold International Mining

Mali’s New Mining Code reinforces State participation

Mali’s interim President, Assimi Goita, has promulgated a new Mining Code that will allow the military-led government to increase ownership or shareholder control of gold concessions and recover what it declares to be a large shortfall in production revenues. The new code, signed on state television on Monday night, will allow state and local investors to take up to 35 percent stakes in mining projects, up from 20 percent today, and could more than double

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Gas Local News Oil Petroleum

Angolan and Namibian Sign Oil Sector Cooperation Deal

The Angolan Association of Oil and Gas Services Companies (AECIPA) and the Namibian Association of Offshore Oil and Gas Service Providers (NAOGSP) signed, on Monday August 28th, in Windhoek, an agreement to cooperate in strengthening the oil and gas industries. gas from the two countries. Under the terms of the agreement, AECIPA and NAOGSP will cooperate in several areas, including enhancing economic and commercial benefits for members, sharing industry information, research and development of new

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Diamonds International News

Agape Diamonds Receives Warning over Lab-Grown Disclosure

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 Natural 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

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Diamonds International News

De Beers’ August Sight Yields Lowest Sales This Year

Year-on-year rough sales slid for the seventh consecutive cycle at De Beers, hitting a low for 2023 amid a slowdown in the market. The August sight totaled $370 million, the company reported Wednesday — down 42% from the same period in 2022, and 10% from July, when sales came to $411 million. “With the prevailing economic environment leading to softer end-client demand for diamond jewelry in key consumer markets, and the traditionally lower levels of midstream trading

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Diamonds International News

De Beers expects shareholder support for ‘hugely accretive’ deal

DIAMOND contracts are not, it seems, forever — unfortunately for De Beers. By the time the Anglo American firm brings a new marketing deal for shareholder approval, probably at Anglo’s AGM next year, it will be almost four years since the last deal expired, and six since negotiations began. For its pains the diamond giant is getting 70% of diamonds produced by Debswana, the 50/50 joint venture with Botswana’s Okavango Diamond Company. That’s 5% less than

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Diamonds International News

Diamond Producers Swiftly Adapting to Shifting Landscape

The diamond industry has faced multiple challenges leading to a notable shifting of the industry landscape over the last few years, says personal liability company BDO South Africa. Natural resources partner at the firm, Jacques Barradas, says the industry is in the midst of transformation that demands careful analysis and strategic foresight, following a 15% to 18% fall in diamond prices over the last year and lower volumes at market tenders. BDO natural resources head Servaas Kranhold adds that the diamond market has experienced a

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