PETRA Diamonds continued to suffer the effects of declining market prices reporting second tender sales of $40.9m – 49% lower than the first tender sales of its 2024 financial year. However, there are mitigating factors when comparing the two tenders. The previous, the first of the year, was effectively a catch-up as Petra had delayed sales from earlier tenders that occurred in the previous financial year. Carats sold totalled 444,029 carats in the second tender
Zimbabwe’s biggest diamond producer has shifted almost all of its sales to Dubai, targeting cutters, polishers and traders and eliminating middlemen. Zimbabwe Consolidated Diamond Co. has auctioned 4 million carats of stones so far this year in the emirate, up from 850,000 carats for the whole of 2022. The state-owned miner is targeting revenue of $1 billion by 2030, according to Sales and Marketing Manager Enock Moyo. Three auctions held in Dubai have attracted an
The natural diamonds producers should be more aligned in order to improve the management and protection of these resources, said the Minister of Mineral Resources, Oil and Gas. Diamantino Azevedo was speaking in Luanda at the opening of the meeting of the Ad-hoc Committee for the Review and Reform of the Kimberley Process Certification System, where he stressed the need for better organization, from an environmental and management point of view, in order to reduce
ENDIAMA is continuing its commitment to training human capital in order to better respond to the challenges of the present and the future, said recently in Luanda the executive director for Mining Operations, Administration and Human Resources of the country’s second largest company. Domingos Margarida was speaking during the 2nd edition of the workshop on Capital Markets, Insurance and Pension Funds, aimed at ENDIAMA- E.P. employees and collaborators, organized by the Capital Markets Commission, in
Major Rio Tinto has launched a new exclusive sales event for some of the diamonds recovered from its Australian and Canadian mines. Known as The Beyond Rare tender, the inaugural collection showcases 48 lots of exceptional polished diamonds, including legacy inventory of pink and red diamonds from the Argyle diamond mine and yellow diamonds from Rio Tinto’s Diavik diamond mine. “The Beyond Rare tender is a new chapter for Rio Tinto’s diamonds business, and a
Angola’s largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said in a boost to the country’s plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni (ENI.MI) and BP (BP.L), was formed last year when the two companies consolidated their Angolan assets. The company plans to drill 16 exploration wells over the next four
The Chinese-operated Kingfisher oilfield in Uganda has hit a major roadblock as the Petroleum Authority Uganda (PAU) has temporarily suspended operations due to safety concerns, as per a report by The East African. This decision follows a tragic accident that occurred on 6 October, raising questions about safety standards in the project. Ernest Rubondo, the executive director of PAU, expressed his dismay over the accident and emphasized that such incidents are unacceptable, especially in light
The potential move by Saudi Arabia to sell oil to China in Chinese currency is raising concerns about its impact on Angola’s oil exports, warns Daniel Fung Wah-kin, the President of the United Nations Foundation for Peace and Development. He expressed these concerns during a seminar commemorating the 10th anniversary of the ‘One Belt, One Road’ initiative in Hong Kong. Fung explained that in the past, China’s significant oil purchases from Angola were largely due
The National Oil, Gas, and Biofuels Agency (ANPG) in Angola has officially launched a competitive bidding process for the exploration of 12 oil blocks in the Lower Congo and Kwanza Onshore Basins. The announcement was made by the national concessionaire, ANPG. Interested national and foreign companies have until November 15th to submit their proposals, adhering to the 40-day timeframe stipulated by law. The “Tender 2023” comprises a total of 12 oil blocks. Four of these
Azule Energy’s Executive President, Adriano Mongini, has revealed that the newly formed gas consortium, including Azule Energy, BP, and Eni, will begin gas production in July 2026. This announcement was made during the groundbreaking ceremony for the New Gas Consortium (NGC) facilities in Soyo, Zaire province. The gas project’s major stakeholders are Azule Energy with a 37.4% stake, CABGOC (Chevron) with 31%, Sonangol with 19.8%, and TotalEnergies with 11.8%. The consortium’s investment is valued at
