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
In a significant stride towards economic revitalization, Caledonia Mining Corporation, a globally renowned mining company, is embarking on an ambitious journey to develop Zimbabwe’s largest gold mine. This move promises to have far-reaching implications, not only for the company itself but also for the nation’s economy and the international mining industry as a whole. Let’s delve into this groundbreaking development and explore the potential impact it may have on the future of Zimbabwe’s mining sector.
New insights into the processes of continental evolution and movement during the early stages of complex life on Earth have been revealed by the examination of ancient, superdeep diamonds that were excavated from mines in Brazil and Western Africa. An international team of experts examined these diamonds, which are believed to have originated on the base of the supercontinent Gondwana between 650 million and 450 million years ago. Their analysis has provided insight into the
In a significant development aimed at bolstering Libya’s energy sector and fostering regional development, Deputy Chairman of the Presidential Council, Moussa Al-Koni, recently held a crucial meeting with the Minister of Oil and Gas of the Government of National Unity, Mohamed Aoun. The meeting, held in the capital city, addressed several pivotal issues, including the possibility of establishing an oil refinery in the southern region of the country, enhancing fuel supply, and powering the Ubari
Oil Prices Unexpectedly Surge Past $90 Per Barrel, Sparking Concerns and Supply. The global oil market is currently witnessing a significant surge in prices, with several key factors contributing to this upward trajectory, driving oil to surpass $90 per barrel. Brent crude futures saw an increase of 94 cents, equivalent to a 1% rise, reaching $93.32 per barrel as of Friday morning. Meanwhile, U.S. West Texas Intermediate crude reached $90.78 per barrel, marking a $1.41
TotalEnergies is “hopeful” it will be possible to restart the $20-billion liquefied natural gas (LNG) project in northern Mozambique in early 2024, says TotalEnergies Gas, Renewables, and Power’s long-term LNG marketing and business development deputy VP, Christophe Auger. TotalEnergies holds a leading 26.5% stake in the development, which was halted in 2021 after Islamic State-linked insurgents launched attacks in the northern Cabo Delgado province where the project’s onshore infrastructure will be located. The French energy
The Ministry of Trade and Regional Integration has kept all fuel prices unchanged for the next 30 days. Its previous two tariff adjustments prompted by the rise in the global crude oil and naphtha market saw retail prices of fuel in Ethiopia surge for two consecutive months. Also read: IMF sees “good progress” from Ethiopia In a statement today, the ministry said the prices at the pump set for September would remain unchanged for the
The G7 countries will this week discuss four plans to ban Russian diamonds from G7 markets starting from January 1. These proposals, which aim to restrict the entry of Russian diamonds into G7 countries, vary in their stringency and approach, reflecting the challenges in reaching a consensus. The four proposals were prepared by Belgium, India, a French jewelry industry group, and the World Diamond Council and will be discussed at a technical meeting of G7
The UK announced a pledge to help African countries expand their critical mineral supply chains with a focus on promoting mineral exploration and processing, generating value added activities, and creating local jobs during the Critical Minerals Africa 2023 summit on Wednesday 18th October. “African countries rightly have a high level of ambition for unlocking the value of their natural resources, and the UK will work with them in partnership to support the delivery of their
