DRC Gold Prices Rise Slightly to $108.60 per Gram Amid Global Economic Caution The price of gold—one of the Democratic Republic of Congo’s (DRC) most strategic export minerals—saw a modest increase of 0.35% on international markets during the week of July 14 to 19, 2025. According to a statement from the National Commission of Mercuriales under the Ministry of Foreign Trade, gold traded at $108.60 per gram, up from $108.22 the previous week. Experts say
DRC Gold Prices Inch Up 0.35% Amid Global Tensions; Experts Urge Local Refining and Traceability The price of gold—a critical mineral resource for the Democratic Republic of Congo (DRC)—has seen a modest increase on the international market. From July 14 to 19, 2025, the price of one gram of gold rose by 0.35%, reaching $108.60, up from $108.22 the previous week, according to a press release from the National Commission of Mercuriales under the Ministry
ZCDC Lays Off 400 Workers as Global Diamond Prices Plunge and Lab-Grown Gems Rise Zimbabwe’s largest diamond producer, the state-owned Zimbabwe Consolidated Diamond Company (ZCDC), is laying off 400 employees as it struggles to cope with a global downturn in demand for natural diamonds, a company representative confirmed. Speaking by phone, the spokesperson explained that the job cuts were a necessary measure to keep operations running and avoid a complete shutdown. In a follow-up text
NNPC Considers Refinery Sales Amid Costly Rehabilitation and Strategic Review The Nigerian National Petroleum Company (NNPC) is considering the possible sale of some of its state-owned refineries as part of a broader strategic overhaul to address persistent challenges in its rehabilitation efforts. Speaking to Bloomberg at the 9th OPEC International Seminar in Vienna, NNPC Group CEO Bayo Ojulari revealed that the company is conducting a comprehensive review of its refinery operations, expected to be completed
Angola Sets New Diamond Production Record with Over 14 Million Carats in 2024 as Mining Sector Expands Angola has reached a historic milestone in its diamond industry, producing over 14 million carats in 2024—the highest in the nation’s history. This achievement was announced by Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during the launch of the International Mining Conference of Angola held last Thursday in Luanda. “This milestone fulfills one of the key
Angola Celebrates Major Gas Discovery in Gajajeira-01 Well and Expands Energy Development Efforts Angola has achieved a major milestone in its natural gas sector with the discovery of significant gas reserves in the Gajajeira-01 well, located offshore in Block 1/14 in the Lower Congo Basin. The announcement was made jointly by the National Agency of Petroleum, Gas, and Biofuels (ANPG) and Azule Energy. Azule Energy, the operator of Block 1/14 with a 35% stake, partners
Libya’s Zliten Field Adds 1,985 Barrels/Day as SOPC Completes New Horizontal Well A newly drilled well in Libya’s Zliten oil field is now producing a steady 1,985 barrels of crude oil per day, marking a significant advancement in the country’s upstream energy operations. Masoud Suleiman, interim president of Libya’s National Oil Corporation (NOC), commended the Sirte Oil and Gas Production and Processing Company (SOPC) for the successful drilling and testing of the C357H-6 horizontal well,
Egypt to Offer Offshore and Onshore Gas Exploration Blocks to International Firms in August Egypt is set to allocate a new round of gas exploration blocks to international energy companies in August, as part of its ongoing strategy to boost natural gas production and attract foreign investment into the country’s energy sector. The upcoming concessions include large onshore and offshore areas, primarily located in the northern and northeastern regions, with significant portions situated in the
Top international oil companies, including ExxonMobil, Chevron, TotalEnergies, and Eni, are actively competing in Libya’s newly reopened oil and gas licensing round, according to Masoud Suleman, Chairman of the National Oil Corporation (NOC). This marks Libya’s first major bid round since the country descended into civil conflict following the fall of Muammar Gaddafi in 2011. The renewed offering has attracted strong interest from a wide array of global energy firms, signaling a potential turning point
Angola has installed its first submarine electricity cable in the municipality of Mussulo, marking a major milestone in the country’s energy infrastructure. The cable is expected to significantly enhance the region’s power supply, increasing capacity from 20 to 30 megawatts. According to a statement from the Mussulo municipal administration, the cable was installed on Wednesday, July 2, 2025. In addition to carrying electricity, the cable also includes integrated optical fiber, making it a dual-purpose infrastructure
