Lucapa announced Thursday the recovery of its recent diamond discovery, marking the fifth-largest find at the Lulo mine in its 12 years of operation. The miner retrieved the diamond from processing run-of-mine stockpiled ore already on site. This discovery also marks the third diamond weighing over 100 carats found by Lucapa this year alone. In the preceding month, the miner unearthed two type IIa stones, weighing 162.42 and 116.14 carats, respectively, on consecutive days. The
This morning President Masisi officiated at the ground breaking of 100 MW Mmadinare Solar Cluster , the first of its kind and scale in Botswana. The phase 1 of this project will generate 50 MW and will completed in January 2025 and the other 50 MW 6 months later , bringing a total of 100 MW by July 2025. The 100MW Mmadinare Solar is the first utility scale grid connected solar PV project and will
Mozambique has passed a decree to regulate the Sovereign Fund Law, marking a pivotal step in establishing a robust legal framework for managing revenues from the country’s oil and natural gas exploration. The newly approved regulation signifies a significant leap forward in promoting transparency, accountability, and good governance in Mozambique’s natural resources sector. Enacted under Law 1/2024 of 9th January, the Mozambique Sovereign Fund aims to ensure the responsible management of non-renewable resource proceeds, fostering
President His Highness Sheikh Mohamed bin Zayed Al Nahyan received His Excellency João Manuel Gonçalves Lourenço, President of the Republic of Angola. During the meeting at Qasr Al Bateen in Abu Dhabi, His Highness welcomed the visit of the President of Angola, who congratulated His Highness on the occasion of the holy month of Ramadan and expressed his wish for it to be a month of goodness, mercy, and peace for people around the world.
German Federal Minister of Economic Affairs and Climate Protection, Robert Habeck, and Namibian Minister of Mines and Energy, Tom Alweendo, have inked an agreement to bolster the Green Hydrogen Namibia Program, marking a significant step towards sustainable energy collaboration. The newly formed initiative aims to cultivate local hydrogen value chains, drive green industrialization, and conduct comprehensive environmental impact assessments for pertinent projects, laying the groundwork for a greener future. In a show of support, Germany
Sonangol has garnered expressions of interest from Chinese investors and financial institutions in support of the Lobito Refinery project, which received a significant boost in October 2020. This momentum came when the national oil company inked a contract with Chinese contractor CNEC, aiming to complete the construction by 2027. Chairman of Sonangol’s Board of Directors, SebastiΓ£o Gaspar Martins, unveiled these expressions of interest during his visit to China alongside President JoΓ£o LourenΓ§o. Speaking on the
In 2023, Nigeria saw its highest payments from Shell in the form of production entitlements, royalties, taxes, and fees to the government, totaling $4.92 billion, marking the highest figure recorded in four years. Shell’s global payments to governments across 27 countries amounted to $29.51 billion in 2023. Following Nigeria, Oman and Norway were the second and third highest recipients, receiving payments of $4.09 billion and $3.81 billion, respectively. The payout to Nigeria increased by 8.85
Investment holding firm Reatile is currently engaged in preliminary discussions with South African energy giant Sasol to explore solutions for potential gas supply shortages in the country. Sasol had previously announced in 2023 the looming possibility of supply shortages by June 2026, given its status as the primary large-scale natural gas provider in South Africa. Simphiwe Mehlomakulu, Chairman of Reatile Group, expressed optimism regarding the collaboration, stating, “Reatile Group remains optimistic about achieving a secure
ACREP (Exploração PetrolΓfero SA), positioning itself as Angola’s second-largest private oil company with onshore operations, achieved a significant milestone with its recent public offering for sale (OPV) of shares on the stock exchange, securing a revenue exceeding 5.409 million kwanzas. The demand for shares reached 24.04 percent of the total supply, showcasing investor interest in the company. The Angolan Debt and Securities Exchange (Bodiva) announced the results of the OPV, revealing that 72,121 of the
Chinese shipbuilding firm HRDD achieved a significant milestone on Wednesday in Shanghai, China, as they completed the lifting and installation of the inaugural module for the structural framework of the Floating Production, Offloading, and Storage Unit (FPSO) Agogo. This operation, deemed crucial by Angolan Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, holds promise for stabilizing oil production in Angola. Minister Diamantino Azevedo, present at the event by invitation from HRDD, voiced his optimism
