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Corporate News Diamonds Local

Oman Replaces Sanctioned Alrosa in Angola’s Catoca Diamond Mine

A subsidiary of Oman’s sovereign wealth fund has replaced Russia’s Alrosa as a shareholder in Catoca, Angola’s state-controlled diamond mining company, marking a significant shift in the company’s ownership structure. The update was reflected on Catoca’s official website. Endiama EP, Angola’s national diamond company, now holds 59% of Catoca, while Taadeen, the new shareholder linked to Oman’s sovereign fund, holds the remaining 41% stake—previously owned by Alrosa. The move comes after mounting international pressure on

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Corporate News International Oil Petroleum

Dangote Refinery Ramps Up with U.S. Crude Amid Nigeria’s Oil Supply Challenges

Africa’s largest crude oil refinery, the $20 billion Dangote Refinery, has increasingly turned to U.S. oil imports to meet its feedstock requirements—despite Nigeria’s position as the continent’s top crude producer. The refinery, with a processing capacity of 650,000 barrels per day (bpd), began sourcing significant volumes of U.S. West Texas Intermediate (WTI) Midland crude in 2025, according to Bloomberg ship-tracking data. During its early 2024 startup phase, American crude made up a smaller share of

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International Corporate News Oil

Petrobras Targets Africa as Key International Growth Frontier

Petrobras, Brazil’s state-controlled oil giant, has set its sights on Africa as its main growth market outside of Brazil, according to CEO Magda Chambriard. In an interview with Reuters, Chambriard disclosed that Ivory Coast has granted Petrobras preferential rights to acquire nine offshore exploration blocks in deep and ultra-deep waters. Additionally, Nigeria, Angola, and Namibia have all expressed interest in partnering with the Brazilian company. “We are experts in the eastern margin of Brazil,” Chambriard

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Corporate News Diamonds International

SACIM Dominates DRC’s Industrial Diamond Output in Q1 2025 with 97% Share

Anhui Congo Mining Investment Company (SACIM) has emerged as the dominant producer of industrial diamonds in the Democratic Republic of Congo during the first quarter of 2025, accounting for 97% of the country’s total output. According to statistics released by the Technical Unit for Coordination and Mining Programming (CTCPM), a department under the Ministry of Mines, SACIM produced 334,505.81 carats out of a national total of 344,049.44 carats between January and March 2025. The remaining

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Corporate News Diamonds International

Debswana Layoffs Spark Outcry as Botswana President Bypasses Union

Botswana President Duma Boko has announced the planned termination of over 1,000 workers at Debswana, the country’s joint venture with diamond giant De Beers, citing the ongoing global downturn in the diamond market. Speaking recently to civil servants, Boko attributed the decision to declining demand and sustained economic pressure across the diamond industry. However, the Botswana Mine Workers Union (BMWU) strongly condemned the announcement, criticizing the government for bypassing proper consultation processes. In a formal

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Corporate News Diamonds Local

Lucapa Diamond Enters Voluntary Administration Amid Financial Struggles and Sale Plans

Lucapa Diamond Company has entered voluntary administration as it seeks to restructure its capital and explore a potential sale of the business. The company announced on Friday that administrators from advisory firm KordaMentha will conduct an urgent assessment of Lucapa’s operations and assets, which include Brooking Diamonds, Heartland Diamonds, and Australian Natural Diamonds. Lucapa’s portfolio spans both Africa and Australia, with key assets such as the Lulo mine in Angola, the Merlin project in Australia—previously

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Corporate News International Renewable Energy

AXIAN Energy Breaks Ground on West Africa’s Largest Solar-Storage Project in Senegal

AXIAN Energy has commenced construction of the NEA Kolda project, a large-scale solar and battery storage facility aimed at advancing Senegal’s renewable energy objectives. Launched on May 22 in the southern Kolda region, the hybrid plant will generate 60 megawatts of solar power and store up to 72 megawatt-hours of energy. Once operational, it is expected to supply clean electricity to more than 25,000 households, benefiting nearly 235,000 people. AXIAN positions the project as part

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Corporate News International Oil

Dangote Refinery to Import Over 5 Million Barrels of U.S. Crude in July Amid Supply Gaps and Rising Investments

The Dangote Petrochemical Refinery is set to import over five million barrels of crude oil in July 2025, primarily sourced from the United States, according to Reuters. The refinery has contracted approximately 161,000 barrels per day (bpd) of U.S. West Texas Intermediate (WTI) crude for the month, although the final volume could increase if additional contracts are signed. This follows a record-breaking June, when the refinery imported around 300,000 bpd of WTI crude—the highest in

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International Corporate News Gas Oil

Renaissance Africa Energy to Invest $15 Billion in Niger Delta Oil and Gas Projects

Renaissance Africa Energy Company Limited has announced plans to invest $15 billion over the next five years in developing oil fields onshore and in the shallow waters of Nigeria’s Niger Delta. The Nigerian-owned energy consortium recently acquired oil assets previously managed by Shell Petroleum Development Company (SPDC), following Shell UK’s exit from onshore operations in the region. The announcement was made by Greg Akhibi, Head of Supply Chain at Renaissance Africa Energy, on behalf of

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Corporate News Diamonds International Renewable Energy

Debswana and BPC Partner to Advance Renewable Energy Goals Through REC Agreement

Botswana Power Corporation (BPC) and Debswana Diamond Company have signed a Memorandum of Agreement (MoA) to collaborate on the use of Renewable Energy Certificates (RECs)—a move that supports Botswana’s push toward a more sustainable energy future. Debswana, jointly owned by the Government of Botswana and De Beers Group, operates four diamond mines across the country: Orapa, Letlhakane, Damtshaa, and Jwaneng. This partnership will enable Debswana to access and demonstrate its use of renewable electricity, sourced

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