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Author: Makungu Coco

Corporate News Diamonds International

Botswana Government Halts Progress on HB Antwerp Diamond Deal

Botswana’s plan to acquire a 24% stake in Belgian gem trader HB Antwerp, initially proposed by the previous government, remains uncertain. The deal, announced in March 2023 by former President Mokgweetsi Masisi, was intended to challenge Botswana’s long-standing partnership with De Beers by allowing State-owned Okavango Diamond Company to receive polished rather than rough prices for some of its sales. However, the agreement was never finalized. “They were still conducting due diligence and never closed

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Corporate News Diamonds International

Gem Diamonds Boosts Profitability Amid Market Challenges

Despite a tough diamond market in 2024, London-listed Gem Diamonds delivered strong financial results, driven by cost containment, operational efficiencies, and strategic capital allocation, CEO Clifford Elphick reported. Global economic uncertainty, persistent inflation, and geopolitical tensions weighed on diamond prices throughout the year. However, Gem Diamonds achieved a 10% revenue increase, reaching $154.2 million, primarily due to the sale of 13 diamonds exceeding 100 carats each. Cost-cutting measures contributed to a 95% surge in EBITDA,

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Corporate News International Mining Projects

Botswana Diamonds Expands Exploration with 11 New Prospecting Licences

AIM-listed Botswana Diamonds has applied for 11 prospecting licences in Botswana, targeting copper, silver, cobalt, gold, nickel, zinc, and platinum group metals. This move follows the company’s AI-driven exploration programme, which initially focused on diamonds but uncovered hidden polymetallic deposits across the country. The nationwide AI exploration initiative began with a focus on diamonds. However, during data analysis, it became evident that the technology could also identify undiscovered polymetallic targets. “Our analysis has revealed a

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Renewable Energy International News

Mozambique Expands Solar Power with $110 Million Investment

A private Mozambican consortium plans to invest $110 million (€101 million) in a solar power plant in Gaza province, southern Mozambique, to strengthen the national grid, according to official documents accessed by Lusa. The Chibuto Solar Power Plant, a joint initiative between Sal Energia and state-owned Electricidade de Moçambique (EDM), will have an installed capacity of 95 MW. Sal Energia will develop, finance, and construct the plant, along with the necessary grid connection infrastructure. The

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Local Exploration Mining Projects

Angola Expands Critical Minerals Exploration and Production

Angola has identified 34 of the 54 critical minerals recognized by the European Union and is intensifying exploration, production, and downstream projects to unlock its mining potential. The government is actively promoting investment across the critical mineral value chain to drive economic diversification and boost revenue from the sector. Several mining projects are progressing across Angola. In January 2025, UK-based Pensana secured funding from South Africa’s Absa Bank to accelerate the development of the Longonjo

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Corporate News Local Oil

Sonangol Reaffirms Ownership and Transparency of Barra do Dande Ocean Terminal

Sonangol has reaffirmed its exclusive ownership of the Barra do Dande Ocean Terminal (TOBD) and emphasized the transparency of its management, aiming to address recent claims regarding alleged overpricing in the terminal’s construction and concerns about its ownership being registered in favor of a private entity, Enagol. In a statement released Thursday, Sonangol clarified that the TOBD is a strategic asset under its sole ownership. “TOBD is a strategic asset owned exclusively by Sonangol, and

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Partnerships Local Mining Projects News

Venezuela and Angola Strengthen Bilateral Cooperation in Energy and Mining

Venezuela and Angola have reaffirmed their commitment to enhancing cooperation in energy and mining, as announced by Venezuelan Foreign Minister Yván Gil. The announcement followed a telephone conversation between Gil and Angolan Foreign Minister Tete António on Friday. In his statement on Instagram, Gil congratulated Angola for assuming the Presidency of the African Union, acknowledging this achievement in the year marking the 50th anniversary of Angola’s independence. He also emphasized that both nations are working

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Local Infrastructure News Transport and Logistics

Diamantino Azevedo and Afreximbank Director Discuss Strategic Projects Including Lobito Corridor

On Monday, Diamantino Azevedo, Angola’s Minister of Mineral Resources, Oil, and Gas, and Eric Monchu Intong, Director of Regional Operations and Head of Mission for Anglophone West Africa at Afreximbank, met to discuss several key projects aimed at supporting the Angolan economy. The focus of the meeting included the Lobito Corridor, the Amufert fertilizer factory, and other mining and oil initiatives. Intong emphasized Angola’s role as current chair of the African Union and highlighted the

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Gas International News

Global Natural Gas Demand to Surge 32% by 2050

Global demand for natural gas is projected to rise by 32% by 2050, increasing from 4,018 billion cubic meters (bcm) in 2023 to 5,317 bcm, according to the latest Gas Exporting Countries Forum (GECF) Global Gas Outlook 2050 report, released on March 10. The report attributes this growth to economic expansion in developing economies and a global population increase to 9.8 billion by 2050. By the late 2030s, natural gas will surpass coal as the

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Oil Exploration Gas International Renewable Energy

Namibia Balances Oil Exploration and Green Energy Goals

President Nangolo Mbumba has defended Namibia’s dual pursuit of oil exploration and renewable energy, emphasizing that the country’s energy strategy aligns with global climate commitments, including the Paris Agreement. Amid concerns about the contradiction between fossil fuel projects and decarbonization efforts, Mbumba stressed that Namibia’s newly discovered oil resources will support a sustainable energy transition. “The development of our newly discovered oil resources is not contradictory to our decarbonization agenda. It is part of a

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