Lucapa Diamond Company Limited (ASX: LOM) has announced the successful sale of four exceptional Type IIa diamonds from its Lulo mine in Angola, fetching a total of $2.67 million at a tender hosted by Angola’s national diamond marketing company, Sodiam E.P. High-Value Parcel Breakdown The 120-carat parcel included: The parcel achieved an impressive average price of $22,150 per carat, with the 45-carat white diamond securing the highest price per carat. Lucapa Managing Director and CEO
Zimbabwe’s renewable energy ambitions have gained momentum with a $10 million investment from the Facility for Energy Inclusion (FEI), finalized on August 30. The funding supports Cicada Solar Limited, a leading solar solutions provider in the country. The long-term senior debt financing will enable Cicada Solar to expand its operations, addressing Zimbabwe’s persistent energy challenges while fostering economic growth through affordable energy solutions and vendor financing programs. Cicada currently manages four active solar projects, with
Woodside Energy plans to secure multiple partners for its Louisiana liquefied natural gas (LNG) project before making a final investment decision (FID) in the first quarter of 2025, CEO Meg O’Neill told Reuters. The Australian-listed energy company is offering a 50% stake in the US Gulf Coast facility, which it fully acquired through its $1.2 billion purchase of Tellurian in October. The project is designed to process up to 27.7 million tons per annum of
LONDON – US oil and gas companies are unlikely to make significant production increases under president-elect Donald Trump, as the industry remains focused on capital discipline, according to Liam Mallon, head of Exxon Mobil’s upstream division. Speaking at the Energy Intelligence Forum in London on Tuesday, Mallon stated, “We’re not going to see anybody in ‘drill, baby, drill’ mode.” He emphasized that the industry’s focus on economic factors and disciplined capital management will likely prevent
Botswana, a major African diamond producer, will join Antwerp as an origin certifier of rough diamonds exported to the Group of Seven (G7), which banned imports of Russian diamonds earlier this year. This move aims to address concerns raised by African diamond-producing nations and ensure fair participation in the new certification system. The initial plan required all diamonds to pass through Antwerp, Europe’s diamond hub, for verification under a new tracing system. However, producers such
Lucapa Diamond (ASX: LOM) has announced a phased plan to restart production at the Merlin diamond mine in Australia’s Northern Territory, which has been on hold for years. The first phase, spanning 18 months, involves excavating and dredging five existing pits. This phase will require an investment of A$15 million (US$10 million) and is projected to recover approximately 67,000 carats, generating an estimated revenue of A$42 million (US$27 million). The second phase, lasting 27 months,
Aim-listed Botswana Diamonds has obtained environmental authorisation from Botswana’s Department of Environmental Affairs and the Ministry of Environment and Tourism to begin drilling at two targets in the Kalahari. The drilling programme will explore two gravity anomalies spanning 12 hectares and 6 hectares, located near the company’s KX36 kimberlite discovery. These targets hold potential to enhance existing resources in the region, including the Ghaghoo mine, situated about 60 km from KX36 and currently under care
KBR, a global engineering company, has partnered with AMUFERT, a fertilizer production and marketing firm, to develop a large-scale ammonia production plant in Soyo, Angola. The facility will have a daily production capacity of 2,300 metric tons, aiming to enhance food security in Angola and across the region. The project will leverage KBR’s proprietary ammonia technology, with the company providing a technology license, specialized engineering design, and tailored solutions to support the plant’s development. Jay
The Minerals Income Investment Fund (MIIF) of Ghana has reported $1.02 billion in revenue over the past year through its gold trade desk. This platform was created to formalize the country’s small-scale mining sector, enhance gold traceability, and provide a dependable market for locally produced gold. In addition to stabilizing the small-scale mining sector, the desk has significantly supported the economy by channeling $600 million to Bulk Distribution Companies for petroleum imports. This measure has
Banco Sol has expressed interest in financing and supporting sustainable projects led by local entrepreneurs along the Lobito Corridor, the bank’s Executive Committee Chairman, Osvaldo de Lemos Macaia, confirmed on Wednesday in Benguela. Speaking to Jornal de Angola, Macaia emphasized the region’s economic potential and the government’s active efforts to attract investors to the Lobito Corridor. “For initiatives along the Lobito Corridor, Banco Sol will evaluate the projects and companies to assess how local entrepreneurs
