Major Rio Tinto has launched a new exclusive sales event for some of the diamonds recovered from its Australian and Canadian mines. Known as The Beyond Rare tender, the inaugural collection showcases 48 lots of exceptional polished diamonds, including legacy inventory of pink and red diamonds from the Argyle diamond mine and yellow diamonds from Rio Tinto’s Diavik diamond mine. “The Beyond Rare tender is a new chapter for Rio Tinto’s diamonds business, and a
The industrial gold production in Mali, one of Africa’s top producers of the precious metal, is expected to reach or even exceed its forecast of 67.7 tonnes for 2023, according to a mines ministry official. Gold production from mines, mainly owned by Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining, stood at 45.4 tonnes at the end of August, surpassing the initial forecast of 43 tonnes, Mamadou Sidibe, head of the mines ministry’s
As the global economy continues to navigate through the challenges posed by the ongoing COVID-19 pandemic and the evolving energy landscape, there’s a glimmer of hope for consumers around the world. In recent weeks, speculation has been rife that fuel prices might experience a much-anticipated cut in November. Based on the current oil, international fuel and rand prices, the latest data from the Central Energy Fund (CEF) shows that petrol prices could be cut by
Anglo American Platinum, BMW Group South Africa (BMW SA), and Sasol have partnered to prove that a hydrogen mobility ecosystem can operate successfully within South Africa. The three companies inked an agreement on Monday at the 2023 South African Green Hydrogen Summit in Cape Town that will bring hydrogen fuel cell electric vehicles (FCEVs) and supporting hydrogen refueling technology to South Africa. In terms of the agreement, BMW will provide the FCEVs a test fleet
Zimbabwe, a country known for its rich mineral resources, has once again made its mark on the global stage by ranking as the 7th largest diamond producer in the world. This remarkable achievement underscores the significant role that Zimbabwe plays in the global diamond industry and the potential for economic growth and development in the region. In this article, we will explore the factors that have contributed to Zimbabwe’s rise in the ranks of diamond
The Chinese-operated Kingfisher oilfield in Uganda has hit a major roadblock as the Petroleum Authority Uganda (PAU) has temporarily suspended operations due to safety concerns, as per a report by The East African. This decision follows a tragic accident that occurred on 6 October, raising questions about safety standards in the project. Ernest Rubondo, the executive director of PAU, expressed his dismay over the accident and emphasized that such incidents are unacceptable, especially in light
The forthcoming Critical Minerals Africa (CMA) 2023 summit has unveiled its three-day program, bringing together public and private sector industry leaders in a concerted effort to establish world-class mineral supply chains in Africa. Commencing the main conference agenda on October 18th, 2023 is a ministerial forum that will showcase the participation of ministers from South Sudan, Malawi, and the Democratic Republic of the Congo, along with ministry representatives from Tanzania and Zimbabwe. They will outline
The U.S. Energy Information Administration (EIA) has revealed its latest Brent spot average price forecasts for 2023 and 2024 in its October short-term energy outlook (STEO), which was released this week. According to the STEO, the EIA now sees the Brent spot price averaging $84.09 per barrel this year and $94.91 per barrel next year. In the STEO, the EIA projected that the Brent spot price will average $90.65 per barrel in the fourth quarter
The African continent is currently in the midst of an exciting and transformative period in its energy sector. As global awareness of the urgent need to transition to cleaner and more sustainable sources of energy intensifies, African nations are stepping up their efforts to harness their vast renewable energy potential. In this endeavor, African banks are playing a crucial role by providing the much-needed financial support to propel the continent’s energy transition. This article explores
The United States imposed sanctions on two owners of tankers that carried Russian oil above the G7 price cap of $60 a barrel, one based in Turkey and one based in the United Arab Emirates, the US Treasury Department said on Thursday 12th of October, 2023. The United States, other G7 countries, and Australia imposed the cap last year, seeking to reduce Russia’s revenues from seaborne oil exports as part of sanctions for its invasion
