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Local Mining News

Pensana Appoints Benedito Dumbo as Longonjo Rare Earths Mine Site Manager

London-listed rare earths miner Pensana has named Benedito Dumbo as the site manager for the Longonjo rare earths mine in Angola, marking a significant step ahead of the project’s main construction phase. Dumbo, a native of Luanda, Angola, brings three years of experience as a mining engineer dedicated to the project’s development. His expertise spans various crucial areas, including drilling, logging, fleet management, and maintenance systems. Graduating from the Camborne School of Mines, part of

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International News

South Africa’s Eskom Pursues $21B Transmission Expansion

South Africa’s state-owned power utility Eskom is pursuing financing for its $21 billion transmission network expansion project, aiming to integrate renewable energy sources into the national grid. As the primary provider of 80% of South Africa’s electricity, Eskom’s expansion plans involve constructing 14,218 km of power lines by 2033 – a three-fold increase from 2012-2024 installations. To secure financing for this capital-intensive project, Eskom is engaging in discussions with relevant government ministries and considering potential

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International Energy News

Namibia Gears Up to Become Major Regional Power Producer

To ease reliance on electricity imports, Namibia has made substantial strides in ramping up its power network in recent years. The country derives the majority of its domestic power generation from the 120 MW coal-fired Van Eck Power Station in Windhoek, as well as the diesel-powered Paratus and Anixas Power Stations and Ombuvu Photovoltaic (PV) Power Station. Major developments in Namibia’s power distribution sector are poised to shift the country toward energy self-sufficiency by the end of

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Local Mining News

Angola’s Minbos Resources Secures $14M Debt Facility from IDC

Development finance institution the Industrial Development Corporation (IDC) of South Africa has approved a $14 million debt facility for the construction of the Cabinda Phosphate project in Angola. Mineral exploration and development company Minbos Resources – the project’s developer – has received credit committee approval for the funds, enabling the company to kickstart development. The IDC funding will cover the majority of the project’s total cost – estimated at $24 million – with the remaining

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International News Oil

Sirte Oil Makes Gas Discovery in Libya

Libya’s state-owned National Oil Corporation (NOC) announced that its subsidiary Sirte Oil has discovered a well with the potential to produce 16.8 million cubic feet of gas per day. The announcement – made on April 9 – follows successful drilling operations in exploratory well W, W, 1-6, southeast of the Al-Lahib Field. The drilling operations reached a final depth of 8,666 feet and showed a choke size of 48/64 inches. In addition to gas, the

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Diamonds International News

Debswana Appoints Keene Nkoane as first female Engineering Manager

Debswana,the leading rough diamonds producer continues to set the trend in diversity and progressive leadership appointments. The 50/50 De Beers – Botswana joint venture has appointed top Engineer Ms. Keene Nkoane as the first female Senior Engineering Manager inthe history of the company. She is based at Orapa Letlhakane and Damtshaa Mines (OLDM). Nkoane joined Debswana in 2003 based in Jwaneng Mine following her completion of BEng (Hons) in Electrical & Electronic from Nottingham University,

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International News Oil

Namibia Emerges as Potential OPEC+ Contender Amid Oil Boom

The OPEC+ coalition is eyeing Namibia for potential membership, as the country gears up to become Africa’s fourth-largest oil producer by the next decade, according to industry reports. TotalEnergies and Shell’s discoveries of around 2.6 billion barrels of oil have positioned Namibia for significant oil production by 2030. NJ Ayuk, Executive Chairman of the African Energy Chamber, has facilitated discussions between OPEC and Namibia, aiming for Namibia’s full membership in the future. While Namibia has

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International News Oil Petroleum

Shell and NLNG Enter Legal Battles Over LNG Supply Disputes

Shell Plc has lodged complaints with US regulators against Venture Global LNG (VGL) for allegedly breaching their supply contract. Similarly, Nigeria LNG Ltd (NLNG) is embroiled in a supply dispute, challenging an arbitral award demand order in a UK high court. An industry insider links these disputes to a surge in the LNG market, causing unexpected losses to highly profitable margins. With LNG demand soaring amid global market dynamics, major suppliers are allegedly defaulting on

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News Local Oil

Brent barrel starts the week at 90 dollars

The barrel of Brent, a reference to Angolan exports, closed the week at 90.15 dollars, and given the favorable market conditions, it is expected that it will rise to higher levels throughout the sessions that resume today on the stock exchanges. Market details show that, over the last 52 weeks, the order price per barrel has varied between $71.28 and $97.69 for 1,000-barrel contracts. Deliveries for June, in turn, last Friday, were being carried out

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International News

Energean Completes Farm-In Agreement with Chariot Energy for Offshore Moroccan Licenses

Independent exploration and production company Energean has finalized a farm-in agreement with Africa-focused transitional energy group Chariot Energy for the Lixus and Rissana licenses, located offshore Morocco. Under this partnership, Energean assumes a 45% participating interest in the Lixus license and a 37.5% interest in the Rissana license, while also taking over operatorship of both blocks. In exchange, Energean paid $10 million to Chariot Energy upon the farm-in closing. Energean CEO Mathios Rigas expressed enthusiasm

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