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Corporate News Diamonds International

Petra Diamonds Restructures South African Operations as Nearly 1,800 Jobs Come Under Threat

Petra Diamonds Puts Finsch Mine Into Business Rescue, Retrenchments at Cullinan Could Threaten 1,800 Jobs South Africa’s diamond mining industry is facing renewed pressure after Petra Diamonds placed its Finsch Diamond Mine under business rescue and launched retrenchment proceedings at its Cullinan operation, placing nearly 1,800 jobs at risk. The developments have sparked concern across the mining sector and drawn strong criticism from the National Union of Mineworkers (NUM), which is urging the government to

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International Corporate News Oil Petroleum

Italy Supreme Court Acquits Prosecutors in Eni-Shell OPL 245 Oil Block Case, Ending Long-Running Legal Battle

Italy’s Top Court Clears Prosecutors in OPL 245 Case, Marking New Twist in Nigeria’s Biggest Oil Scandal Italy’s highest court has acquitted two prosecutors who led the failed corruption case against energy giants Eni and Shell over Nigeria’s controversial OPL 245 oil block, bringing another chapter of one of Africa’s largest and most protracted oil scandals to a close. The Court of Cassation overturned the convictions of Milan prosecutors Fabio De Pasquale and Sergio Spadaro,

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International Corporate News Oil Petroleum

Dangote Refinery Drives Sharp Decline in West African Fuel Imports

Dangote Refinery Reshapes West Africa’s Fuel Market as Imports Plunge and Trade Routes Shift The rapid ramp-up of production at the Dangote Petroleum Refinery is transforming fuel trade across West Africa, significantly reducing the region’s reliance on imported refined petroleum products. According to recent industry data cited by S&P Global, West Africa’s imports of clean refined petroleum products fell sharply to 765,000 barrels per day (bpd) in May, down from approximately 997,000 bpd in April.

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Gold International News

Ghana Weighs Transfer of Gold Fields’ Tarkwa Mine to Local Firms as Lease Expiry Nears

Ghana Considers Local Takeover of Gold Fields’ Tarkwa Mine as Government Pushes to Boost Mining Revenue Ghana is considering transferring control of Gold Fields’ Tarkwa gold mine to local companies when its mining leases expire in April next year, as part of a broader strategy to increase domestic participation in the country’s gold sector and capture a larger share of revenues from elevated bullion prices. If the plan proceeds, Ghanaian mining firms would be required

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Diamonds Corporate News International

De Beers Sale Nears Completion as Anglo American Pushes Diamond Unit Toward Landmark Deal

De Beers CEO Says Sale Could Be Finalized Within Weeks as Global Diamond Giants Compete for Anglo American Stake The sale of De Beers, the diamond unit of Anglo American, is closer than ever to completion, according to Chief Executive Officer Al Cook, who said a deal could be concluded within weeks. Anglo American placed De Beers one of the world’s leading diamond companies with operations and exploration assets across Botswana, Namibia, Angola, South Africa,

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International Gold News

Zimbabwe Approves Second Gold Refinery in Bulawayo to Support Rising National Output

Zimbabwe Licenses Second Gold Refinery in Bulawayo as Production Targets 50 Tons in 2026 Zimbabwe has approved the establishment of a second gold refinery to process and handle the country’s growing gold production, according to government officials familiar with the development. The new facility will be located in Bulawayo, Zimbabwe’s second-largest city, and is expected to be commissioned next year. Officials, who requested anonymity due to the sensitivity of the matter, said the project is

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Diamonds International News

Gen Z Demand Surge Revives Interest in Natural Diamonds, Offering Relief for African Producers

Gen Z Drives US Natural Diamond Demand Recovery, Boosting Outlook for African Producers American consumers are showing renewed interest in natural diamonds, signaling a potential recovery for Africa’s diamond-producing nations after several challenging years marked by weakening prices and rising competition from lab-grown alternatives. According to De Beers’ latest US Diamond Acquisition Study, Generation Z consumers born between 1997 and 2012 is playing a central role in the resurgence. Although they represent 18% of the

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International Gold News

Mali’s Gold Mining Sector Delivers Record State Revenues in 2025 Despite Output Drop

Mali Gold Mining Revenues Hit Record $1.57 Billion in 2025 Despite Production Decline Gold mining companies operating in Mali contributed a record 888.5 billion CFA francs (approximately $1.57 billion) to the state in 2025, marking a 6.4% increase compared to 835.1 billion CFA francs in the previous year, according to Ministry of Mines data reviewed by Reuters. The West African nation hosts more than 15 industrial mining operations controlled by multinational companies, including Barrick Mining,

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International Corporate News Oil

Eni Enters Gambia Offshore Oil Exploration With New Deepwater Block A1 Licence

Eni Secures Offshore Exploration Licence in Gambia, Expanding West African Energy Footprint Italian energy major Eni has officially entered Gambia’s upstream oil and gas sector after securing an offshore exploration licence for Block A1, marking a significant expansion of its operations across West Africa’s emerging energy frontier. The company signed a petroleum exploration, development, and production licence agreement with the Government of The Gambia on June 5. The agreement was signed by the country’s Minister

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International Corporate News Oil

Dangote Refinery Increases Nigerian Crude Purchases Amid Global Oil Market Disruptions

Dangote Refinery Boosts Nigerian Crude Purchases as Iran Conflict Disrupts Global Oil Markets Aliko Dangote’s refinery is significantly increasing its purchases of Nigerian crude oil as geopolitical tensions linked to the Iran conflict continue to reshape global energy markets. The disruption in Middle Eastern supply routes has created new trading dynamics, positioning Africa’s largest refinery as a key beneficiary of shifting oil flows. According to market reports, including Bloomberg, the Dangote Petroleum Refinery has stepped

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