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
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,
The price of Brent crude oil is expected to decline by $5 to $9 per barrel over the next 12 months due to a significant global supply surplus, particularly from non-OPEC (Organization of the Petroleum Exporting Countries) producers, and weakening demand driven by economic uncertainties in China and Europe. These challenges could intensify if the U.S. government under Donald Trump imposes tariffs on imports from China and Europe. According to international experts interviewed by Broadcast,
Baker Hughes has inaugurated a liquid mud plant, cement bulk facility, and integrated multi-modal hub at Walvis Bay, marking a significant step in supporting Namibia’s growing energy sector and advancing localization efforts. The liquid mud plant, Namibia’s largest by volume and capacity, alongside the cement bulk facility, will supply critical drilling and completion fluids and cement handling services for offshore oil and gas operations. Baker Hughes’ integrated multi-modal facility also features state-of-the-art testing and maintenance
QatarEnergy has strengthened its presence in Namibia’s upstream oil and gas sector through an agreement with TotalEnergies, increasing its stakes in two Orange Basin offshore blocks. Under the new deal, QatarEnergy will acquire an additional 5.25% stake in Block 2913B and 4.7% in Block 2912. Following the transaction, QatarEnergy’s shares will rise to 35.25% in Block 2913B and 33.025% in Block 2912. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and CEO of
Mozambique’s state oil and gas company, Empresa Nacional de Hidrocarbonetos (ENH), is set to expand its involvement in the country’s hydrocarbon sector by investing in specialized offshore drilling services for exploration and production. On Friday, ENH signed a shareholders’ agreement in Maputo with Saipem International B.V., a subsidiary of the Italian multinational Saipem. The agreement establishes a joint venture between ENH Exploration, a dedicated subsidiary of ENH, and Saipem, aiming to enhance Mozambique’s capacity in
The Dangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N970 per liter, down from the previous N990. This N20 decrease applies to marketers purchasing directly from the refinery, according to a report by The Punch. Anthony Chiejina, Dangote Group’s Chief Branding and Communications Officer, confirmed the adjustment on Sunday, describing it as a gesture of appreciation for Nigerians as the year draws to a close. “This reduction is
Australian energy company Senex Energy has announced the imminent flow of first gas from its A$1-billion Atlas natural gasfield expansion, following the official inauguration of its Surat Basin facility in Queensland on Sunday. The event was attended by prominent shareholders, including Posco International CEO Kyein Lee and Hancock Prospecting Executive Chairperson Gina Rinehart, alongside representatives from government and the Wandoan community. The Atlas expansion is a key achievement for Senex, particularly as the Australian Energy
Russia’s Alrosa, the world’s largest producer of rough diamonds by volume, is considering suspending some production in 2025 and reducing its workforce as it confronts plummeting global diamond prices. The company’s CEO, Pavel Marinychev, highlighted these challenges during an interview on Thursday, citing ongoing Western sanctions and a downturn in the diamond industry. Marinychev described the global diamond market as being in a “deep crisis,” with prices declining for the second consecutive year. For Alrosa,
Lucara Diamond Corp. has announced that its 2024 revenue projections have been revised downward due to reduced sales of high-value diamonds, which typically account for up to 70% of its annual revenue, and ongoing softness in the global diamond market. In its third-quarter update, the company adjusted its full-year revenue guidance to $160 million–$180 million, down from the previous range of $220 million–$250 million. While other operational guidance remains unchanged, Lucara lowered its 2023 capital
