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Category: International

Diamonds Corporate News International

Petra Diamonds Restructures Operations as Weak Diamond Prices Pressure South African Mines

Petra Diamonds Places Finsch Mine Under Business Rescue Amid Prolonged Diamond Market Weakness London-listed Petra Diamonds has placed its Finsch mine in South Africa under business rescue as part of a broader restructuring effort aimed at stabilizing the company amid continued weakness in the global diamond market. The decision comes as the company faces sustained pressure from declining diamond prices, a stronger South African rand, and weakening demand for smaller-sized stones. Petra Diamonds Chief Executive

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Diamonds International News

DRC Launches New Diamond Company to Strengthen Local Processing and Exports

DRC Approves ADEX RDC SA Joint Venture to Boost Diamond Processing and Local Value Addition The Democratic Republic of Congo (DRC) has approved the creation of ADEX RDC SA, a new joint venture aimed at modernizing and strengthening the country’s diamond sector through increased local value addition. The decision was taken during the 91st ordinary meeting of the Council of Ministers held on Friday, May 29, 2026, in Kinshasa. The proposal was presented by the

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Diamonds Corporate News International Mining Personality

Akinwumi Adesina to Lead Botswana’s Diamonds for Development Fund

Botswana and De Beers Name Akinwumi Adesina Chair of Diamonds for Development Fund The Government of Botswana and De Beers Group have appointed Dr. Akinwumi Adesina, former President of the African Development Bank (AfDB), as Chairperson of the Diamonds for Development Fund (DDF), a landmark initiative aimed at transforming Botswana’s diamond wealth into long-term economic and social benefits. Dr. Adesina, a globally respected development economist with nearly four decades of experience, served as the eighth

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International News Renewable Energy

Africa’s Solar Boom Drives 83% Surge in Chinese Panel Imports Amid Worsening Power Shortages

African Demand for Chinese Solar Equipment Surges 83% as Energy Crisis Accelerates Renewable Transition Africa’s deepening electricity shortages and rising energy costs are fueling a sharp increase in demand for Chinese solar equipment, further consolidating China’s dominance in the global renewable energy supply chain. New customs data released by China shows that exports of solar cells and panels to African countries rose 83% year-on-year in April, reaching 123,787 metric tonnes, up from 67,552 tonnes during

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International Diamonds News

Zimbabwe Aims to Increase Diamond Production Amid Weak Global Prices and Industry Challenges

Zimbabwe Targets 5 Million Carats Diamond Output Despite Global Price Decline and Market Pressures Zimbabwe Consolidated Diamond Company says it plans to raise diamond production to 5 million carats this year, despite continued weakness in global diamond prices and rising competition from synthetic stones. The target represents an increase of about 1.2 million carats compared with production levels in 2025, even as the global diamond industry faces sustained pressure from geopolitical tensions, shifting demand patterns,

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International Corporate News Oil

BW Energy Advances MaBoMo Phase 2 Development to Boost Output at Dussafu Field

BW Energy Targets July 2026 Drilling Start for Dussafu Phase 2 Development Offshore Gabon BW Energy is preparing to begin drilling for the MaBoMo Phase 2 development on the Dussafu license offshore Gabon, with operations expected to start around July 2026. The campaign will initially target four production wells using the existing BW MaBoMo mobile production unit. The company is also evaluating plans for two additional appraisal wells as part of ongoing field development optimisation.

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International Corporate News Oil

ExxonMobil Advances Nigeria Deepwater Expansion with Owowo Project FID Timeline

ExxonMobil Targets 2026 Final Investment Decision for $7–8 Billion Owowo Deepwater Project in Nigeria ExxonMobil is targeting a final investment decision (FID) for its Owowo deepwater development offshore Nigeria in early 2026, with the project estimated to cost between $7 billion and $8 billion. According to S&P Global, ExxonMobil Vice President for Deepwater Offshore Hunter Farris confirmed the timeline, noting that 2026–2027 will be critical years for engineering work, regulatory approvals, and coordination with the

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International News Renewable Energy

Egypt Secures Major EBRD Financing for 200 MW Solar and Battery Storage Project in Benban

EBRD Funds $70 Million Egypt Solar and Battery Project to Boost Renewable Energy Capacity The European Bank for Reconstruction and Development (European Bank for Reconstruction and Development) has approved up to $70 million in senior debt financing for a large-scale renewable energy project in Egypt that combines solar power generation with battery energy storage. The funding will support Nefer Benban for Renewable Energy, a special purpose vehicle established to develop, construct, and operate the project

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International News Oil

Eco Atlantic and Navitas Advance South Africa Offshore Exploration Partnership

Navitas Expands South Africa Offshore Position Through Eco Atlantic Block 1 CBK Farm-In Deal Eco Atlantic Oil & Gas has advanced its offshore South Africa partnership with Navitas Petroleum through a farm-down agreement covering Block 1 CBK in the Orange Basin. The development follows an earlier agreement in which Eco, through subsidiary Azinam South Africa, secured an exclusive option with local partner OrangeBasin Energies formerly Tosaco Energy to acquire an additional 20% participating interest in

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International News Oil

Zawiya Refinery Restarts After Fighting Disrupts Operations in Western Libya

Libya’s Largest Refinery Resumes Operations After Armed Clashes Trigger Temporary Shutdown Libya’s largest operating refinery in Zawiya has resumed operations after armed clashes near the facility forced a two-day shutdown, raising concerns over the security of the country’s critical energy infrastructure. The refinery, located about 40 kilometres west of Tripoli, suspended operations on Friday after fighting spread into nearby areas. National Oil Corporation confirmed that heavy artillery shells landed inside the refinery complex, although no

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