Petra Diamonds has postponed its sixth tender for the financial year (FY) 2023 due to a temporary downturn in the market for rough diamonds. The miner said the diamonds originally earmarked for sale in June will now be tendered in August, which historically coincides with stronger demand due to the end of Northern Hemisphere summer holidays and the commencement of manufacturing orders being filled ahead of the seasonally strong end of year festive period. The
A delegation from the Ministry of Mines and Energy of Namibia visited the offices of ENDIAMA-E.P, with the aim of exchanging experiences to make the diamond subsector increasingly dynamic and attractive. The meeting was guided by the President of the National Diamond Company of Angola, Ganga Júnior, who also discussed with the Namibian delegation issues related to the exploitation of diamonds in the sea, an activity already developed by Namibia. Miina Gahutu, Director of Diamond
Deputy minister of Mines and Energy of the Republic of Namibia, Kornelia Shilunga, said on Last week in Luanda, that the cooperation protocol in the mining sector recently signed by Angola and Namibia will bring reciprocal advantages for both countries. Kornelia Shilunga was speaking at the end of her visit to ENDIAMA-E.P, where he met with the chairman of the board of directors of the national diamond company, Ganga Junior, to learn about the technical
Following a rise in output last month, Nigeria’s crude oil revenues increased to nearly N1.68tn in June 2023, according to a study of the latest oil production numbers given by the Federal Government. According to data acquired last week from the Nigeria Upstream Petroleum Regulatory Commission’s June 2023 crude oil production report, the country’s daily oil output in the review month increased to 1,248,960 barrels. Nigeria produced 1,183,691 barrels of crude oil per day in
The Bakwanga mining company (MIBA), a Congolese state holding company, produced only 16,664.12 carats of diamonds in the first three months of 2023. According to figures from the Ministry of Mines, the mining industry in the Democratic Republic of Congo (DRC) reached an estimated production volume of 2,035,090.71 carats of diamonds in the first quarter of 2023. The report indicates that 1,554,858.73 carats come from artisanal mining, i.e. 76.40% of total production;479,605.11 carats from industrial
In a remarkable display of pride and confidence, the Managing Director of Debswana, the world’s leading diamond producer by value, highlighted the company’s exceptional accomplishments during the ongoing US-Africa Business Summit. Andrew Motsomi took the opportunity to underscore the remarkable contributions that Debswana has made to the economy of Botswana and its transformation from being one of the world’s poorest nations to an upper middle-income economy. “We produce between 22 to 24 million carats per
The recent agreement signed between the government and De Beers, the renowned diamond mining company, has been widely regarded as a significant milestone for the country. This deal promises to bring additional revenue, technological advancements, and employment opportunities, offering numerous benefits to the nation. During a press conference held in Gaborone, Minister of Minerals and Energy, Mr Lefoko Moagi, highlighted the key aspects of the new Sales Agreement. According to the agreement, the Okavango Diamond
Lucapa Diamond Company has announced that its MD and CEO, Stephen Wetherall, will step down at the end of this month. The board has resolved that Nick Selby, appointed as Executive Director Operations in September 2017, will be appointed as Interim CEO on Wetherall’s exit, and continue in the role while an executive search for a new CEO and MD is undertaken. Selby’s material terms of employment will be unchanged from those disclosed in the
The Emerging Africa Infrastructure Fund (EAIF) – a development finance organization established under the Private Infrastructure Development Group – has invested €11.5 million via a senior secured loan for the construction of an integrated solar and battery storage project in Senegal. Dubbed the Walo facility, the 16 MW solar facility will comprise a battery energy storage system with a capacity of between 10 to 20 MW. The project will be constructed and thereafter operated by
As part of the recently agreed deal between Botswana Government and De Beers Group, the diamond mining giant will continue to support Botswana’s diamond beneficiation efforts. The company will partner with one of its sightholders to set up a state of the art jewellery manufacturing facility in Botswana. De Beers Executive Vice President – Diamond Trading Paul Rowley said on Tuesday July 4th that the facility will initially create 200-250 jobs and it will deal
