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Author: Makungu Coco

Diamonds International News

Botswana to Launch Diamond Export Certification Node by 2025

Botswana has partnered with the G7 diamond technical team to establish an export certification node by 2025, aiming to enhance traceability and transparency in its diamond trade with G7 markets. “Botswana is committed to pioneering traceability and responsible mining practices, ensuring that our diamonds not only shine in beauty but also embody integrity and ethical stewardship,” said Duma Boko, President of Botswana. The certification platform builds on a framework developed by Botswana and Belgium in

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International Exploration Gas Oil

Libya to Tender 22 Oil and Gas Exploration Blocks to International Investors

The National Oil Corporation (NOC) of Libya has announced plans to launch a public tender offering 22 onshore and offshore exploration blocks to international oil companies. The announcement was made during a meeting chaired by Libya’s Prime Minister, Abdul Hamid Dbeibah, on December 7. The tender aims to attract foreign investment to bolster Libya’s hydrocarbon sector. NOC Chairman Farhat Bengdara emphasized the introduction of a new standard agreement and an updated procedural manual. These documents,

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Local Infrastructure Transport and Logistics

Biden Announces $600 Million in New Financing for African Railway Infrastructure

President Joe Biden is concluding his trip to Angola with a significant announcement of $600 million in new financing for a multi-country railway, a move aimed at boosting U.S. investment in critical minerals infrastructure across Africa and countering China’s growing influence on the continent. This latest announcement builds on the $553 million pledged earlier this year by the U.S. International Development Finance Corporation (DFC) for the Lobito Trans-Africa Corridor, which will connect the Central African

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Corporate News Diamonds International

Lucara Diamond Corp. Issues Strong 2025 Revenue and Production Forecast

Lucara Diamond Corp. has issued a positive full-year revenue and production forecast as it plans to focus on mining the higher-value portions of the Karowe deposit in Botswana. The company projects revenue for 2025 to range between $195 million and $225 million, a significant increase compared to its revised guidance of $160 million to $180 million for 2024. The expected production for next year is between 360,000 and 400,000 carats, with sales volume estimated at

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Corporate News Diamonds

Rio Tinto’s Beyond Rare Tender Sees Strong Bidding for Polished Colored Diamonds

Rio Tinto successfully sold 76 polished colored diamonds from its Argyle and Diavik mines through its second Beyond Rare tender, attracting strong bids from global participants. The collection, named Colour Awakened, featured 48 lots totaling 39.44 carats. It included pink, red, and violet diamonds from the now-closed Argyle mine in Australia, along with yellow and white diamonds from the Diavik deposit in Canada. A highlight of the sale was the Old Masters collection, which showcased

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Corporate News Diamonds International

Alrosa Reduces Rough Diamond Prices Amid Market Adjustments

Alrosa has lowered rough diamond prices at this month’s trading session, following similar price reductions by De Beers, according to industry sources. The Russian miner’s cuts averaged around 10%, with estimates ranging from 5% to 15%. However, Alrosa’s price movements are more difficult to track compared to De Beers due to many industry players ceasing purchases from the company after Western sanctions on Russia were implemented in 2022. Alrosa did not respond to requests for

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International Gas News

Globeleq’s Mozambique Gas Plant Faces Delays, Set for 2025 Commissioning

Globeleq Inc.’s 450-megawatt Central Termica de Temane gas-fired power plant in Mozambique has been delayed until mid-2025 due to extreme weather events that impacted the construction site. The plant, originally slated to begin production this year, was delayed by Cyclone Freddy in 2023 and Tropical Storm Filipo in March 2024, which wreaked havoc along Mozambique’s coastline. In response to inquiries, Globeleq confirmed that these weather systems had disrupted construction and pushed back the plant’s commissioning

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Corporate News Gas International

TotalEnergies to Approve $750 Million Gas Project in Nigeria by 2025

TotalEnergies is set to approve a $750 million investment in the Ima gas project in Nigeria next year, furthering the country’s efforts to attract new hydrocarbon investments. The Ima project, a shallow-water development planned in partnership with a local company, is expected to enhance gas supply to Nigeria’s liquefied natural gas (LNG) plant. This follows a $500 million investment approved earlier in 2024 to develop the Ubeta onshore field, a project designed to produce 300

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Corporate News Exploration International Oil

TotalEnergies Seeks Approval for New Offshore Exploration in South Africa’s Deep Water Orange Basin

TotalEnergies is pursuing environmental clearance to drill up to seven exploration wells in the southern portion of its Deep Water Orange Basin (DWOB) block, located off South Africa’s west coast. The DWOB block lies approximately 200 kilometers (124 miles) offshore between Port Nolloth and Saldanha Bay in deep waters. TotalEnergies EP South Africa (TEEPSA), the operator, previously received authorization in 2023 to explore the northern section of the block. The company now seeks to extend

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International Renewable Energy

Masdar and Partners Propel Egypt’s Renewable Energy Ambitions with 1.2 GW Solar Projects

Masdar, Infinity Power, and Hassan Allam Utilities have partnered with the Egyptian Electricity Transmission Company (EETC) to accelerate Egypt’s renewable energy transformation. This collaboration includes two Power Purchase Agreements (PPAs) for solar energy projects with a combined capacity of 1.2 gigawatts (GW) and 720 megawatt-hours (MWh) of Battery Energy Storage Systems (BESS). The initiative includes a 900 MW solar power plant with BESS in Wahat and a 300 MW solar power plant with BESS in

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