Diamond miner Lucapa Diamond Company has announced revenues of A$15.7 million from the sale of seven exceptional diamonds from its Lulo operation, in Angola. The company sold 534.9 carats by tender, achieving an average price of $29,401 per carat. Of the seven diamonds sold during the tender, the 180-carat Type II white diamond recovered in June this year, and a 66-carat pink diamond, attracted the highest prices per tonne. “This tender demonstrates that the weakness
The National Diamond Trading Company of Angola (SODIAM) announced that it raised 22 million dollars from the auction sale of 1,329.89 carats of rough diamonds on Thursday, October 12, 2023. This was the 7th diamond auction held in Luanda and included special stones from mining companies such as Lulo, Kaixepa, Somiluana, Catoca, and Luele, according to a statement from Sodiam sent to Lusa. The most valuable diamonds came from the Lulo mine and yielded nearly
Angola may slow the removal of fuel subsidies to avoid a repeat of protests in June over a near-doubling in petrol prices in which at least five people were killed, the southern African country’s finance minister said on Monday. No decision has been made yet in ongoing internal discussions on whether to extend the end-2025 deadline for phasing out the subsidies, Vera Daves de Sousa told Reuters in an interview on the sidelines of the
Endiama, the national diamond company, will use TECH-Minas, an unprecedented tool created in Angola, to monitor mining activity and the “alarming” problem of mining, announced the president of the company’s board of directors. Jose Ganga Júnior stated that TECH-Minas facilitates the monitoring and surveillance of mining activities, performance levels, as well as security issues in the areas. “The mining industry, which presents alarming environmental problems and ecological disasters, can be observed from our office almost
The Chairman of the Board of Directors of Endiama, a state-owned diamond company, expressed grave concerns regarding diamond mining activities in concession areas within the Lunda Norte province. These concerns primarily stem from alleged complicity among certain authorities. Jose Gange Júnior voiced his apprehensions during the biannual review session on diamond production, currently underway for three days in Dundo, the capital of Lunda Norte. According to the official, the situation is particularly troubling in the
The Minister of Mineral Resources, Petroleum, and Gas (MIREMPET) made an appeal yesterday for a concerted effort to combat the promotion campaign of the commercial value of synthetic diamonds over natural ones in the international market, conducted by institutions interested in influencing market prices. Edições Novembro Diamantino Azevedo spoke to the media on the sidelines of the meeting of the Ad-Hoc Committee for the Review and Reform of the Kimberley Process Certification System, which concludes
OPEC has raised its annual outlook for global oil demand in the medium and long term, projecting that $14 trillion in investments will be needed to meet this demand, even with the growth of renewable fuels and the increasing number of electric cars. The perspective of the Organization of the Petroleum Exporting Countries (OPEC), as outlined in its “World Oil Outlook for 2023” released yesterday, contrasts with that of other analysts, including the International Energy
The United Arab Emirates reaffirmed its commitment to “voluntary collective and individual adjustments” in oil production, as reported by the Saudi state news agency on Saturday 7th of October, 2023. It emphasized that the Oil Ministers of the six countries gathered on the sidelines of the MENA UN Climate Week event in Riyadh. Furthermore, the ministers reiterated the willingness of the Declaration of Cooperation (DoC) countries to take “additional measures at any time in their
The Brent oil price for December delivery rose 0.64% to $84.57, according to the last update at 12:39 on October 8, 2023, in the London futures market. The North Sea crude, a benchmark in Europe and Angola, ended the session on the International Exchange Futures trading at 54 cents above the $84.03 it closed at last Thursday. Brent rebounded on Friday after positive economic data from the United States was released, which improved expectations for
ASX-listed Lucapa Diamond Company, which holds a 40% interest in the Lulo mine, in Angola, and a 70% interest in the Mothae mine, in Lesotho, has appointed Nick Selby as CEO and MD. Selby has served as interim CEO since August, following former CEO and MD Stephen Wetherall‘s resignation. Selby, an extraction metallurgist, joined Lucapa in October 2014 as COO and was appointed executive director of operations in September 2017. He began his career with De Beers, where
