Lucara Diamond Corp, owner of the Karowe mine in Botswana, has appointed Dr. Lauren Freeman as Vice President of Mineral Resources, effective from July 1. In her new role, Freeman will oversee all aspects of mineral resource management at Lucara’s flagship Karowe mine and will play a key role in shaping the company’s development strategy. Freeman brings over 25 years of experience in the mining industry, specializing in large Type II diamonds. Her expertise spans
Petra Diamonds revealed expansion plans for its Finsch and Cullinan mines in South Africa, targeting production of between 3.4 to 3.7 million carats by 2028, representing a 15% to 17% increase over three years. CEO Richard Duffy stated that the expansion, requiring about $100 million in annual sustaining and expansion capital, will be self-funded. The UK-listed diamond producer also announced the appointment of Johan Snyman as CFO, effective October, succeeding Jacques Breytenbach who announced his
The proposed sale of Anglo American’s 85% stake in De Beers would enhance market visibility and focus, according to Richard Duffy, CEO of Petra Diamonds. Duffy suggested that De Beers, as an independent entity, would invest more in marketing efforts. Anglo American announced on May 14 its intention to sell De Beers as part of a group-wide restructuring, which includes unbundling its shares in Anglo American Platinum. During an investor day, Duffy outlined new life-of-mine
Petra Diamonds has projected a significant increase in production, aiming for at least a 22% rise by fiscal year 2029, driven by expansions at its Cullinan and Finsch mines. The company announced last week that it expects total output for fiscal 2024, ending June 30, to range between 2.7 million and 2.8 million carats. Looking ahead, Petra anticipates production to reach between 2.8 million and 3.1 million carats next year, with further growth to between
Aliko Dangote, Chairman of the Dangote Group, has announced that Premium Motor Spirit (PMS), commonly known as petrol, from his refinery will hit the market by the third week of July. While this news is cause for optimism, concerns have been raised among marketers nationwide regarding its potential impact on prices. The anticipated distribution and sale of Dangote’s refined petrol mark a significant milestone since the commissioning of the Dangote refinery in May 2023. As
TotalEnergies SE is reportedly planning to withdraw from its gas-condensate discoveries off the coast of South Africa to redirect its exploration efforts closer to Namibia, according to sources familiar with the matter. The French energy giant ventured into South Africa’s challenging offshore conditions, investing approximately $400 million to uncover an estimated 1 billion barrels equivalent of light liquid hydrocarbons at the Brulpadda field in 2019, as reported by Bloomberg. Subsequently, TotalEnergies achieved another successful find
The Federal Government of Nigeria has entered into a significant agreement with the Foundation for Sustainable Social Responsibility in Emerging Africa (FOSSREA) to advance hydrogen development initiatives. Mrs. Oluwakemi Ogunmakinwa, Deputy Director of Press and Public Relations in the Ministry of Petroleum Resources, emphasized in a statement that the agreement marks a pivotal moment in Nigeria’s commitment to hydrogen as the future fuel. She quoted Permanent Secretary Ambassador Nicholas Agbo Ella, who highlighted the strategic
Chevron Corporation (CVX) has chosen the Deepsea Bollsta semi-submersible rig for an upcoming exploration well in Namibia’s Orange Basin, as announced by Northern Ocean Ltd., a provider of offshore drilling services. Scheduled to commence in the fourth quarter of 2024, this operation will target Block 2813B under Petroleum Exploration License (PEL) 90, situated north of TotalEnergies SE’s Venus discovery. The Orange Basin, known for its potential, has attracted major interest due to recent discoveries like
BP has partnered with Masdar, Hassan Allam Utilities, and Infinity Power to develop a multi-phase green hydrogen project in Egypt, formalized through a joint development agreement (JDA). Under the JDA, BP will serve as the main developer and operator on behalf of the consortium. The partners will merge their respective green hydrogen (gH2) initiatives in Egypt, exploring the potential for a large-scale, multi-phase project focused on developing gH2 and its derivatives for export. The consortium
Civil construction activity remains robust, driven by renewable energy projects, particularly a notable shift from solar to wind energy. The FNB/BER Civil Confidence Index fell slightly from an eight-year high of 47 in Q1 2024 to 44 in Q2 2024. This decline indicates that over 55% of respondents are dissatisfied with current business conditions, reflecting a slight dip in business sentiment and a slowdown in activity. Despite this, the growth indicator remains well above its
