A Malian military helicopter transported gold from Barrick Gold’s (NYSE: GOLD) Loulo-Gounkoto mining complex on Thursday, according to a report by Reuters. The airlift follows a court-appointed administrator’s decision to sell the site’s bullion to help finance ongoing operations. According to the report, the helicopter landed at the mine’s tree-lined airstrip and was met by the site’s security team. The personnel were then escorted to the plant’s gold room, where the bullion was loaded. The
TotalEnergies SE is taking significant steps to restart its long-stalled natural gas project in northern Mozambique, following years of delay due to a violent insurgency in the region. The French energy giant has issued formal notifications to contractors, instructing them to begin site preparations. Companies involved in the project have started mobilizing personnel and equipment, signaling a gradual return to full operations. Among those notified is Portuguese construction firm Mota-Engil, which, in partnership with Belgian
GameChange Solar has signed a major agreement with CEEC-ZTPC to supply its Genius Tracker™ 1P Single Row system for Phase II of Egypt’s Abydos Solar PV Plant, further strengthening its footprint in Africa’s renewable energy sector. The project, spearheaded by AMEA Power with CEEC-ZTPC handling construction, will feature a 1 GWac solar photovoltaic plant integrated with a 600 MWh battery energy storage system (BESS). Once completed, it will be one of the largest solar-plus-storage developments
Libya’s National Oil Corporation (NOC) has announced that energy giants BP and Shell have signed new agreements to evaluate hydrocarbon exploration and development opportunities across three key Libyan oilfields. The move signals a cautious but significant return of major foreign investment in Libya’s oil sector, which has faced years of instability and production disruptions due to armed conflicts and political rivalries over oil revenues. As a result, frequent shutdowns have plagued the operations of Africa’s
Northern Ocean Ltd has signed a N$740 million drilling contract with Rhino Resources Namibia (Pty) Ltd to deploy its semi-submersible rig, Deepsea Mira, for exploration in Namibia’s Orange Basin. The contract, covering approximately 112 firm days, includes drilling the Volans-1X exploration well and is scheduled to begin in mid-July 2025. The agreement provides for one confirmed well with Rhino and another for a second, unnamed operator, with options for up to three additional wells. The
The African Export-Import Bank (Afreximbank), the continent’s leading development financier, has revealed that its total financial support to the Dangote Refinery and Petrochemical Complex has exceeded $4 billion. This was disclosed by the bank’s President and Chairman of the Board, Prof. Benedict Oramah, during the closing session of Afreximbank’s 32nd Annual Meetings held on Friday. Oramah attributed the bank’s ability to fund such a massive project to its adoption of what he termed “African Best
The Dangote Refinery, Africa’s largest oil processing facility, will transition to using only Nigerian crude by the end of 2025, according to Devakumar Edwin, Vice President of Dangote Industries. The $20 billion refinery—owned by Aliko Dangote, Africa’s richest man—currently processes 650,000 barrels of oil per day. In June 2025, the facility sourced approximately 53% of its crude from Nigerian producers, with the remainder imported from countries such as the United States, Brazil, Angola, Ghana, and
A major gold mining project in Ghana’s Upper West Region has officially entered the development phase, marking a significant step forward for an initiative long in the making. Azumah Resources Ghana Limited has commenced full-scale construction of the Black Volta Gold Mine, following years of exploration, planning, and recent delays. The Ghanaian-owned company, supported by both domestic and international investors, confirmed it has secured funding from existing shareholders and has begun preparatory work at the
Africa’s richest man, Aliko Dangote, is moving forward with long-anticipated plans to list two of his industrial giants—Dangote Oil Refinery and Dangote Fertiliser Limited—on the Nigerian stock market. Although the idea has circulated for some time, recent developments suggest definitive timelines have now been set, particularly for the refinery. Dangote recently announced that his $20 billion oil refinery will be listed on the Nigerian Exchange (NGX) by the end of 2026. During a visit by
Etu Energias Launches Drilling Campaign at Angola’s Block 2/05 to Boost Oil OutputAngolan private energy firm Etu Energias has officially commenced drilling operations at Block 2/05, located in the shallow waters off Zaire Province. The SMS ESSA jack-up rig arrived at the site on June 25 and began operations on June 27, marking a significant milestone in the block’s redevelopment strategy. The new drilling campaign includes: Three development wells One exploration well Five technical interventions
