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Category: International

Diamonds International News

S&P Global Downgrades Botswana’s Sovereign Ratings Amid Diamond Market Weakness

Botswana Credit Rating Cut to BBB- by S&P Global as Diamond Market Struggles Persist On Friday, S&P Global Ratings downgraded Botswana’s long-term foreign and local currency sovereign credit ratings to “BBB-” from “BBB”, citing structural weaknesses in the global diamond market that are expected to weigh on the country’s minerals-dependent economy for longer than previously anticipated The ratings agency also lowered Botswana’s short-term foreign and local currency sovereign credit ratings to “A-3” from “A-2” and

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International Gas News Oil

Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply

Nigeria Positions Itself as a Strategic Alternative in Global Oil Supply Amid Middle East Tensions Faced with persistent geopolitical tensions in the Middle East, Nigeria is seeking to strengthen its role in the global supply of oil and gas. As Africa’s leading crude oil producer, the country is positioning itself as a credible alternative to help diversify hydrocarbon sources on international markets. In a recent media appearance, Nigerian Foreign Minister Yusuf Maitama Tuggar called on

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International News Oil Petroleum

Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field

Libya Starts Production at Z-13 Well in Al-Bayda Field as AGOCO Expands Oil Output Arabian Gulf Oil Company (AGOCO) has officially started production at the Z-13 well in the Al-Bayda Field in Libya, marking another step in the country’s efforts to increase oil output and strengthen its energy sector. The company confirmed that the well has been successfully connected to the Al-Door Production Station after maintenance teams completed the required mechanical linkage. The project included

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Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global diamond miner De Beers Group has announced the passing of Matome Tsholetsa Malema, the chief executive officer of Minerals Development Company Botswana and a member of the De Beers board. Malema joined the De Beers board in 2023, where he brought extensive operational expertise gained through many years in the diamond mining industry. His experience was shaped by a range

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International News Oil

Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium

Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices Oil prices surged nearly 25% on Monday, reaching their highest levels since mid-2022, with Brent crude on track for a record one day gain. In contrast, gold fell 2% as the escalating Iran conflict disrupted global energy supplies, strengthened the dollar, and dampened expectations of near-term interest rate cuts. Agricultural markets, led by edible oils, rose in tandem with crude

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Gold International

Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions

Ghana’s GoldBod Plans Backup Export Routes as Dubai Flight Disruptions Threaten Artisanal Gold Trade Ghana’s state-run artisanal gold exporter, GoldBod, is preparing to shift shipments to alternative refining hubs if flight disruptions to the United Arab Emirates (UAE) continue, two sources familiar with the matter said. The move highlights Africa’s dependence on Dubai amid heightened Middle East tensions. Dubai, a major global gold trading hub supplying Switzerland, Hong Kong, and India, has experienced a seven-day

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Oil Economy International News

Global Oil Prices Surge Amid Rising Tensions in the Middle East

Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears Global oil prices surged sharply on Monday, March 9, 2026, as escalating geopolitical tensions in the Middle East and disruptions to maritime traffic in the Strait of Hormuz raised fears of a major shock to global energy supplies. According to energy market data, the international benchmark Brent crude was trading at around $114 per barrel at the start of the

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International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across Africa A geopolitical conflict thousands of kilometres away is once again threatening to raise the cost of living across Africa. Within hours of US-led airstrikes on Iran on February 28, global oil markets reacted sharply, with Brent crude prices jumping from about $67 to above $82 per barrel a surge of more than 20% in just a few days. It

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Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank of Uganda has announced it will begin purchasing gold from domestic producers this month, becoming the latest central bank to increase its bullion reserves amid surging global gold prices. The initiative forms part of a broader strategy to strengthen Uganda’s foreign exchange reserves and reduce exposure to global financial volatility, particularly as many central banks diversify away from the United

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Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed Lucara Diamond reported lower revenue and earnings for 2025 as the company continued advancing the underground expansion of its flagship Karowe Diamond Mine in Botswana, while warning that additional financing will be required to complete the project. For the year ended December 31, 2025, Lucara sold 353,302 carats, down from 399,215 carats in 2024. Revenue declined to C$159.7 million, compared

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