B2Gold’s Otjikoto Mine in Namibia, in which the company holds a 90% interest, had a strong performance in 2024, producing 198,142 ounces of gold, nearly at the midpoint of its guidance range of 185,000 to 205,000 ounces. For the year ending December 31, 2024, the mill feed grade was 1.87 g/t, with mill throughput at 3.34 million tonnes, and a gold recovery rate averaging 98.6%. In the fourth quarter of 2024, the Otjikoto Mine produced
BW Energy has confirmed that the drilling program for the Kharas appraisal well in Namibia is on track for the third quarter of 2025. The company has received rig bids, and the selection process is currently underway. The Kharas appraisal well is located in the northern part of the Kudu licence, and BW Energy is collaborating closely with other operators in the Orange Basin to optimize the use of available resources. BW Energy holds a
Importers of Premium Motor Spirits (PMS), commonly known as petrol, are reportedly unsettled by the Dangote Refinery’s recent decision to reduce its petrol price. On Wednesday, the Dangote Refinery announced a price cut, reducing its ex-depot (gantry) price of petrol from N890 to N825 per liter, effective from February 27, 2025. This move has caused a ripple effect across the fuel market, with importers now compelled to adjust their prices accordingly. The Dangote Refinery, however,
Rio Tinto has successfully completed its first renewable diesel trial across its Pilbara iron ore operations, marking a significant milestone in its efforts to reduce emissions and integrate alternative fuels into its supply chain. The trial, conducted in partnership with renewable diesel producer Neste and Australian fuel supplier Viva Energy, provided Rio Tinto with critical insights into the scalability of biofuels across its operations. The four-week trial (January–February 2024) resulted in a 27,000-tonne reduction in
Russia’s state-owned diamond producer, Alrosa, reported a 77.3% decline in net profit for 2024, falling to 19.3 billion roubles ($219.32 million) compared to the previous year. Revenue also dropped by 25.9%, reaching 239.1 billion roubles. The decline follows a Group of Seven (G7) ban on direct Russian diamond imports in January 2024, which was later expanded to include diamonds routed through third countries. Alrosa has also been under U.S. sanctions since 2022, further restricting its
Custos Energy is pleased to provide an update on its second exploration and appraisal campaign for blocks 2813A and 2814B in Namibia’s rapidly growing Orange Basin oil and gas region. These blocks are part of Petroleum Exploration License 83 (PEL 83), operated by a subsidiary of Galp Energia, with Custos and Namibia’s National Petroleum Corporation (NAMCOR) each holding a 10% working interest. The PEL 83 Joint Venture partners have successfully drilled, cored, and logged the
Rough diamonds above 5 carats were in tight supply during this week’s trading session, with industry sources attributing the shortage to both production cuts and De Beers’ strategy of limiting supply. During the February sight, prices remained stable across most categories as De Beers adhered to its policy of not overflooding the market, according to insiders. However, the scarcity of large stones raised eyebrows, especially considering De Beers reportedly holds $2 billion in inventories, its
After extensive negotiations, De Beers and the government of Botswana have signed a historic agreement extending their diamond partnership for another decade. The new sales agreement for rough diamonds from Debswana, the joint venture between the government and De Beers, will remain in effect for the next 10 years, De Beers announced on Tuesday. Under the terms of the deal, 30% of Debswana’s production will go to the state-owned Okavango Diamond Company (ODC) for the
The Anhui Congo Investment Company (SACIM) in Kasai-Oriental continues to face significant challenges, raising concerns across the region. On February 26, 2025, a SACIM manager revealed to Actualité.cd that the company, which typically produces an average of 300,000 carats of diamonds per month, is encountering difficulties in selling its diamonds due to newly imposed price restrictions. Under the terms of Ministerial Decree No. 00049/CAB.MIN/MINES/01/2022, dated February 22, 2022, SACIM is restricted to selling its diamonds
London-listed rare earths miner Pensana is committed to environmentally sustainable and socially responsible mining, says Chairperson Paul Atherley. Speaking to BBC Radio 4, he emphasized that mining can uplift communities without harming local ecosystems. “Africa should benefit from its resources without destroying local environments or the fabric of society,” Atherley stated, affirming Pensana’s adherence to high international standards in Angola and the UK. Pensana minimizes environmental impact by using hydroelectric power and limiting mining depth
