The natural gas operations by the Coral Sul floating platform off the coast of the northern Mozambican province of Cabo Delgado, over the last year, have contributed 6.5 percent to the increase in the Gross Domestic Product (GDP). The figure was announced by the representative of the Italian energy company ENI in Mozambique, Giorgio Vicini, who was speaking at a meeting on the challenges of the gas and electricity sectors. The Coral Sul floating LNG
The MIBA, or Bakwanga diamond mining company In the Democratic Republic of Congo, has long been a cornerstone of the country’s economy. After several years of stagnation, it gradually recommenced operations in 2011. However, today, its business is no longer as lucrative as it once was. The company’s recovery plan, estimated at USD 453 million, is set to be implemented over five years, accompanied by an investment plan of USD 161 million to be executed
Oil prices rose by over $1 on Friday 27th October, as reports that the US military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East-producing region. Brent crude futures for December rose $1.16, or 1.3%, to $89.09 a barrel by 0338 GMT. The US West Texas Intermediate contract for December climbed $1.08, also 1.3%, to $84.29 a barrel. The strikes on two facilities
Aim-listed gold producer, developer and explorer Shanta Gold has reported steady gold production in line with expectations in its production and operational results for the quarter ended September 30. The report covers the company’s East African assets, comprising the New Luika and Singida gold mines, in Tanzania, and the West Kenya project, in Kenya. Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with group gold production across our two operating mines of 27 935
However, this was offset by rough diamond production decreasing by 23% and steelmaking coal production decreasing by 21%. Moreover, nickel production was down 7% on lower grades and planned plant maintenance at the Minas-Rio iron-ore operation in Brazil put overall iron-ore production at a 4% lower level than the corresponding period of last year. Now, the focus of the London- and Johannesburg-listed company is on delivering full-year production guidance in line with a planned stronger
Botswana’s state-owned Okavango Diamond Company (ODC) has temporarily halted its rough stone sales as part of an industry-wide drive to reduce the glut of inventory caused by lower global demand for jewelry, its managing director Mmetla Masire said on Tuesday 24th of October, 2023. ODC, which reported a record $1.1 billion in revenue in 2022, holds 10 auctions a year to sell its 25% allocation of production from Debswana Diamond Company, a joint venture between
The Aim-listed gold producer, developer, and explorer, Shanta Gold, has reported steady gold production in line with expectations in its production and operational results for the quarter ended September 30. The report covers the company’s East African assets, comprising the New Luika and Singida gold mines, in Tanzania and the West Kenya project, in Kenya. “Our performance over the third quarter demonstrates the stable and reliable production volumes we have worked hard to achieve, with
PETRA Diamonds continued to suffer the effects of declining market prices reporting second tender sales of $40.9m – 49% lower than the first tender sales of its 2024 financial year. However, there are mitigating factors when comparing the two tenders. The previous, the first of the year, was effectively a catch-up as Petra had delayed sales from earlier tenders that occurred in the previous financial year. Carats sold totalled 444,029 carats in the second tender
Zimbabwe’s biggest diamond producer has shifted almost all of its sales to Dubai, targeting cutters, polishers and traders and eliminating middlemen. Zimbabwe Consolidated Diamond Co. has auctioned 4 million carats of stones so far this year in the emirate, up from 850,000 carats for the whole of 2022. The state-owned miner is targeting revenue of $1 billion by 2030, according to Sales and Marketing Manager Enock Moyo. Three auctions held in Dubai have attracted an
As we move into 2024, the global mining industry is abuzz with excitement as the annual Mining Indaba event makes its triumphant return. What makes this year’s event particularly special is the revival of the “Mining Innovation and Research Battlefield,” a platform that promises to showcase cutting-edge technologies and research breakthroughs set to revolutionize the mining sector. Mining Indaba: A Premier Gathering for the Mining Industry Mining Indaba has long been recognized as one of
