Independent diamond miner Petra Diamonds reported $44 million in revenue from its sixth tender cycle for the 2024 financial year, selling 371,000 carats. CEO Richard Duffy noted that like-for-like prices were down 2.6% from Tender 5, reflecting a seasonally quiet period with muted demand due to Indian holidays and the slow recovery of the Chinese market. “We continue to see evidence of market stabilization and are cautiously optimistic that demand and pricing will improve towards
Anglo American is exploring an initial public offering (IPO) of its diamond business, De Beers, with London being the preferred venue, according to sources familiar with the matter. These discussions are still in early stages, and the individuals spoke on condition of anonymity due to the private nature of the plans. The potential listing was revealed as Anglo American announced its broader strategy for a possible break-up through a demerger or sale of some assets.
De Beers’ parent company intends to sell the diamond miner as part of a strategy to unlock “significant” value in its businesses. The move forms part of major structural changes that will simplify the Anglo American portfolio and deliver growth, it said Tuesday. Plans will see De Beers being “divested or demerged, to improve strategic flexibility for both De Beers and Anglo American,” the company clarified. Anglo is exploring a range of options to separate
Lucapa Diamonds has announced plans to divest its 70% interest in the Mothae mine, located in Lesotho. This decision follows a comprehensive review of the company’s asset portfolio by its newly restructured board of directors. Chairperson Stuart Brown explained that the company aims to streamline its portfolio to concentrate on core assets in Africa and Australia. Lucapa’s primary focus will now be on its 60% interest in the Lulo mine in Angola and the Merlin
Pensana Rare Earths has announced promising initial results from beneficiation testwork on samples from the Sulima West deposit, part of the Coola exploration licence, located 75 km north of Longonjo in Angola. The testwork aims to assess whether the mineralogy at Sulima West can be upgraded on-site before transporting the material to Longonjo for further processing. The company reported that both tested samples show potential for separation and upgrading to a high-grade concentrate using simple
ASX-listed Kinetiko Energy has successfully demonstrated its ability to produce gas-to-power (GtP) from an onshore natural gas resource at its Amersfoort project in Mpumalanga, South Africa. Kinetiko is focused on developing energy transition solutions for South Africa by commercializing advanced shallow conventional gas projects in the Mpumalanga, Free State, and KwaZulu-Natal provinces. “We are absolutely thrilled to have become the pioneers of onshore GtP from a local, conventional source, which represents another significant milestone for
Azule Energy, the joint venture formed in March 2022 by Italy’s Eni and the UK’s BP to merge their oil assets in Angola, successfully finances its operations independently and pays dividends to its shareholders. Vaar, an oil and gas company established in Norway with investment fund Hitec Vision, and Azule Energy operate with minimal dependence on their parent companies. According to Eni’s CFO Francesco Gattei, both companies fund their capital expenditures and maintain their own
The BRILHO Programme, designed to foster sustainability and provide universal access to clean energy, has benefitted over 2.2 million Mozambicans in the first quarter of this year. According to program officials, 1,332,230 individuals have gained access to solar systems, while 920,790 people have benefited from improved cooking solutions, resulting in a reduction of over 560,000 tonnes of carbon dioxide emissions. In addition to providing clean energy access, the BRILHO Programme has facilitated economic empowerment by
Major oil companies like ExxonMobil and Shell, seeking to exit Nigeria’s onshore oil sector due to security concerns, may receive expedited approval by taking responsibility for spills, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). At a meeting in Abuja, NUPRC chief Gbenga Komolafe proposed a short-term option for faster approval if companies commit to cleaning up spills and compensating affected communities. This option could significantly shorten the approval process, currently slated for June.
Cameroon’s leading telecommunications operator, Camtel, and Angola’s multinational telecommunications and technology company, Angola Cables, have joined forces to enhance digital connectivity across West Africa and the Atlantic region. This strategic partnership capitalizes on the extensive network of subsea cable connections, including the South Atlantic Cable System, West Africa Cable System, Monet, and the South Atlantic Inter Link, to strengthen redundancy and network resilience while elevating service quality. By leveraging these robust infrastructure assets, businesses throughout
