Gem Diamonds has recovered a 212.49 carat Type II white diamond from its 70%-owned Letšeng mine in Lesotho. This marks the sixth diamond weighing over 100 carats to be recovered from the mine this year. Located in the Maluti Mountains of Lesotho, the Letšeng mine is renowned for producing large, high-quality Type II diamonds. These exceptional diamonds, each weighing over 100 carats, contribute 70% to 80% of Gem Diamonds’ annual revenue.
Nigeria’s Rural Electrification Agency is partnering with Husk Power Systems for interconnected minigrids and isolated minigrids, rooftop commercial and industrial (C&I) solar, productive use of energy (PUE) initiatives, appliance sales, and financing. The Rural Electrification Agency (REA) of Nigeria and Husk Power Systems have agreed on a strategic partnership to deploy up to 250 MW of decentralized renewable energy (DRE) projects in support of the government’s energy access, energy transition, and energy security targets. The
The Mozambican government and Chinese oil company CNOOC Hong Kong Holding signed five concession contracts on Thursday in Maputo for oil and gas exploration in the Angoche sedimentary basin, located off the coast of Nampula province. Additionally, a sixth contract was signed with Italian energy company ENI. At the signing ceremony, Minister of Mineral Resources and Energy Carlos Zacarias noted that this milestone is the culmination of a process that began in November 2021, when
The Mozambican Ministry of Mineral Resources and Energy has announced a potential change in the partnership of Area 4 in the Rovuma Basin, located off the coast of Cabo Delgado province. This follows the decision by the Portuguese oil and gas company Galp to sell its stake to the Emirati oil company ADNOC. Galp has reached an agreement with ADNOC to sell its position in the Area 4 natural gas consortium for nearly 600 million
Botswana’s President Mokgweetsi Masisi on Wednesday labeled synthetic gems a significant threat to the country’s economic foundation, as the government prepares to launch a $6-billion project to extend the life of its flagship Jwaneng diamond mine. The natural diamond market has faced challenges over the past two years due to rising consumer demand for cheaper lab-grown diamonds and global macroeconomic volatility. Masisi will attend the JCK Show in Las Vegas this week, the world’s largest
TE H2, a joint venture between TotalEnergies and EREN Groupe, along with Austrian electric company VERBUND, have signed a memorandum of understanding (MoU) with Tunisia to explore the development of a substantial green hydrogen project named H2 Notos. The H2 Notos project aims to produce green hydrogen using electrolysers powered by large onshore wind and solar projects, utilizing desalinated seawater. The green hydrogen produced will be exported to Central Europe. Initially, the project is expected
Oil prices ended the week with a 1% increase, closing at $82.12 per barrel, although they experienced a weekly decline due to concerns that strong US economic data could lead to prolonged high interest rates, subsequently reducing fuel demand. Brent crude futures for July delivery rose by $0.76 on Friday, reaching $82.12 per barrel. International experts anticipate an increase in summer demand in the United States starting this weekend, leading some investors to question whether
The United States is reconsidering the strictest aspects of a G7-imposed ban on Russian diamonds, following resistance from African countries, Indian gem polishers, and New York jewelers, according to seven sources cited by Reuters. The sanctions package, agreed upon in December and including an EU-wide ban, represents a major shift in the diamond industry. Two sources familiar with the negotiations stated that the U.S. has largely disengaged from G7 working groups on stringent controls, with
French oil giant TotalEnergies has committed $600 million to bolster its operations in the Republic of Congo, continuing to bypass investment in Nigeria. This decision, announced by TotalEnergies’ CEO Patrick Pouyanne during a visit to Kenya, follows the company’s earlier choice to allocate $6 billion to Angola instead of Nigeria, citing policy inconsistencies and other challenges in the West African country. The $600 million investment will be directed towards exploration and production activities in Congo’s
Nafusa Oil Operations BV has announced that the National Oil Corporation (NOC) has acquired its foreign partner’s share in the development of the North Hamada field. T his acquisition enables the resumption of exploration in Block 47 of the Ghadames Basin, which had been paused since 2014. In a statement released on Friday, Nafusa Oil Operations highlighted that this acquisition is expected to facilitate new discoveries in Block 47. These discoveries can be quickly developed
