Asante Gold Raises $500 Million to Expand Ghana Operations and Target 500,000 oz Annual Output by 2028 Canada’s Asante Gold has finalized a $500-million financing package to accelerate the development and expansion of its Bibiani and Chirano gold mines in Ghana, the company announced on Monday. The package includes net proceeds from a $125-million second utilization under its $150-million senior debt facility. A first drawdown of $5 million was completed on August 14, while a
AD Ports Group and Angola Partner to Launch Digital Logistics Platform and Expand Truck Fleet The Ministry of Transport of the Republic of Angola has taken a major step toward modernizing the nation’s logistics sector through a series of strategic agreements signed with AD Ports Group. These agreements include the development of a Single Digital Logistics Window and the expansion of Angola’s national truck fleet, both critical initiatives to enhance efficiency and competitiveness. In addition
Nigeria’s Oil Industry Under Siege from International Syndicates and Domestic “Oil Mafia” Nigeria’s oil sector, the backbone of Africa’s largest economy, is facing serious threats both internally and externally. While the Nigerian National Petroleum Company Limited (NNPC) warns of sophisticated international criminal gangs looting crude oil, Aliko Dangote, CEO of Africa’s largest oil refinery, is confronting a powerful domestic “oil mafia.” At the Africa Chief of Defence Staff Conference in Abuja, NNPC’s Group CEO, Bashir
Aliko Dangote Partners with Mitsui Chemicals to Launch Africa’s Largest Petrochemical Venture Africa’s richest man, Aliko Dangote, is expanding his industrial footprint beyond oil refining into the global petrochemical sector through a new partnership with Japanese chemical giant Mitsui Chemicals. The deal, announced at the Tokyo International Conference on African Development (TICAD) in Yokohama, aims to encourage wider Japanese corporate participation in Africa’s petrochemical market and marks a major diversification move for Dangote Industries. Under
Dangote Refinery Ends Nigeria’s Fuel Import Dependence, Boosts Exports Across Africa and Beyond The Dangote Petroleum Refinery has emerged as a game-changer in West and Central Africa’s energy landscape, ending decades of dependence on imported petroleum products and positioning Nigeria as a net exporter of refined fuels. With a processing capacity of 650,000 barrels per day, the refinery is the largest in Africa and has rapidly transformed regional trade flows. Since operations began, it has
88 Energy Sells Texas Oil Stake to Boost Exploration in Namibia’s Offshore Energy Sector Namibia is set to benefit from 88 Energy Limited’s recent decision to sell its non-core oil and gas interests in the United States and reinvest the proceeds into exploration projects within the country. The Australian-listed company announced it has divested its 75% non-operated working interest in Project Longhorn, a producing asset in Texas’ Permian Basin, for US$3.25 million (approximately N$59 million).
De Beers and Endiama Discover New Kimberlite Field in Angola, Boosting Diamond Potential The Angolan Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has confirmed the return of De Beers to Angola, highlighting the discovery of a new kimberlite field in partnership with Endiama, the national diamond company. The announcement was made in Saurimo during the inauguration of the Polytechnic Institute of Lueji A’Nkonde University. Minister Azevedo noted that the South African mining giant’s
GSU Begins Construction of 50MW Solar PV Plant in Sakaï to Power 300,000 Homes and Reduce Carbon Emissions GSU has commenced construction of a 50-megawatt solar photovoltaic (PV) plant in Sakaï, Central African Republic (CAR), aiming to expand electricity access and accelerate the country’s transition to renewable energy. The new plant is expected to provide electricity to more than 300,000 households and reduce over 50,000 tons of carbon emissions annually. It will feature a 10-megawatt-hour
Shell Plans 2026 Offshore Drilling in Namibia’s Orange Basin to Unlock Oil Potential Shell is set to begin a new drilling campaign in 2026, targeting five exploration wells in its PEL 39 offshore block in Namibia’s Orange Basin. The company has already made several discoveries in the area, including Graff, La Rona, and Jonker. The upcoming program—though the exact number of wells is still to be finalized—aims to collect additional data to better evaluate the
Mozambique Natural Gas Megaproject Hangs on TotalEnergies’ Decision Amid Security Concerns Mozambican President Daniel Chapo emphasized that the resumption of the country’s natural gas project, halted since 2021 due to terrorist attacks, depends on TotalEnergies, the project’s lead investor. “The resumption depends on who is leading the project, and at the moment, that is Total,” President Chapo said during a meeting with the president of the Japanese multinational Mitsui in Yokohama, host city of the
