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Category: International

Diamonds Corporate News International

IMF Warns Botswana Against Increasing Stake in De Beers Amid Diamond Market Weakness

IMF Cautions Botswana on Expanding De Beers Stake as Diamond Demand Slumps The International Monetary Fund (IMF) has advised the Botswana government against increasing its ownership stake in De Beers, warning that the move could exacerbate the country’s fiscal pressures amid ongoing economic challenges and heavy reliance on the diamond sector. In a review of Botswana’s fiscal position published on December 8, the IMF highlighted heightened uncertainty stemming from the prolonged downturn in the global

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Diamonds Corporate News International

Alrosa Remains Profitable Despite Sanctions and Diamond Market Downturn

Alrosa Confirms Profitability in 2025 Despite Sanctions, Diamond Market Slump Russian diamond miner Alrosa has confirmed that it remained profitable in 2025, despite ongoing international sanctions and a prolonged downturn in the global diamond market. “2025 was a challenging year for the company,” said Aisen Nikolaev, head of Russia’s Sakha (Yakutia) Republic, during a meeting on Tuesday with Alrosa CEO Pavel Marinychev. “Nevertheless, Alrosa fully achieved its key production targets and continued to implement a

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International Gold Mining Projects

ZCCM-IH Signs MoU to Develop Gold Mining Project in North-Western Zambia

ZCCM-IH Partners Ministry of Mines and MMR on Gold Exploration and Mining Project in Zambia ZCCM Investments Holdings Plc (ZCCM-IH) has signed a Memorandum of Understanding (MoU) with the Ministry of Mines and Mineral Development (MoMMD) and Mining Mineral Resources SAS (MMR) to collaborate on the development of a gold exploration and mining project in the Kikonge area of Mufumbwe District, North-Western Province. In a transaction announcement approved by the Lusaka Securities Exchange (LuSE) and

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International Gas News Oil Petroleum

Egypt Signs $6.5 Million Exploration Deal with UK’s Terra Petroleum

Egyptian General Petroleum Corporation Enters $6.5 Million Oil and Gas Deal with Terra Petroleum The Egyptian General Petroleum Corporation (EGPC) has signed a $6.5 million oil and gas exploration agreement with UK-based Terra Petroleum, marking the company’s first entry into the Egyptian energy market. Under the terms of the agreement, Terra Petroleum will drill three exploration wells in the Northwestern El Moghra concession in Egypt’s Western Desert. The company will also conduct comprehensive 2D and

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Infrastructure Energy International News Oil

Uganda Seeks Up to $2 Billion Vitol Financing for Oil and Energy Infrastructure

Uganda’s National Oil Company Targets $2 Billion Vitol Loan to Fund Refinery and Energy Infrastructure Uganda’s national oil company, the Uganda National Oil Company (UNOC), is seeking to secure up to $2 billion in financing from Vitol Bahrain EC, a subsidiary of global commodities trader Vitol, to support major energy and infrastructure projects, according to a senior official at the Ministry of Finance. Earlier this year, the Ugandan government signed an agreement with UAE-based Alpha

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International Corporate News

Heirs Energy Secures $750 Million Financing Deal With Afreximbank

Heirs Energy Closes $750 Million Afreximbank Financing to Drive Expansion and Production Growth Heirs Energies Ltd has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank), strengthening the company’s financial position and supporting its long-term expansion strategy in the energy sector. The agreement was signed in Abuja by Tony Elumelu, Chairman of Heirs Holdings, and George Elombi, President and Chairman of the Board of Afreximbank. Beyond operational efficiency, the financing is intended

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International Corporate News Oil

ReconAfrica Targets Early 2026 Production Testing in Namibia’s Kavango Basin

ReconAfrica Plans Production Testing on Kavango Basin Onshore Licence in Q1 2026 Reconnaissance Energy Africa (ReconAfrica) plans to begin production testing in the first quarter of 2026 on Petroleum Exploration Licence (PEL) 73, an onshore asset located in Namibia’s Kavango Basin. The company said it has entered an evaluation phase that has been in preparation for several weeks, following the identification of hydrocarbon indicators at the Kavango West-1X well on the licence. ReconAfrica has not

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International Renewable Energy

Mauritius CEB Launches International Tender for 2 MWp Hybrid Rooftop Solar Project

Mauritius Opens International Tender for 2 MWp Grid-Tied Hybrid Rooftop Solar Systems The Central Electricity Board (CEB) of Mauritius has launched an international tender for the supply of grid-tied, roof-mounted hybrid solar photovoltaic (PV) systems with a combined capacity of 2 megawatt-peak (MWp). Issued under Section 16 of the Public Procurement Act 2006, as amended, the tender invites eligible and qualified bidders to participate through the Government of Mauritius’ electronic procurement platform. The procurement, referenced

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International Exploration Mining News Oil

Somaliland Targets 2027 Start for Oil and Mineral Exploration

Somaliland Plans to Launch Oil and Mineral Exploration by 2027, President Irro Says Somaliland President Abdirahman Mohamed Abdullahi, widely known as Irro, has announced that the region expects to formally begin oil and mineral exploration by 2027. Speaking at the opening of the Somaliland Mining and Natural Resources Exhibition, President Irro said the region possesses significant untapped natural resources. He emphasized that the government is committed to developing these resources within a clear regulatory framework

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Corporate News International Oil

TotalEnergies Takes Over Operatorship of Namibia’s Mopane Offshore License

TotalEnergies Takes Over Operatorship of Mopane Oil Discovery in Namibia, Targets Drilling From 2026 TotalEnergies has signed an agreement with Galp to assume operatorship of Namibia’s offshore Petroleum Exploration License (PEL) 83, which contains the Mopane oil discovery. Under the terms of the agreement, the partners will implement a defined exploration and appraisal program over the next two years, including the drilling of three wells. The first well is planned for 2026, as the partners

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