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International News Renewable Energy

IFC Partners with Nigerian Renewable Energy Firms to Expand Mini-Grids

The International Finance Corporation (IFC) has joined forces with five distributed renewable energy (DRE) companies to expand mini-grid projects across Nigeria, aiming to address the country’s electricity access gap and accelerate its transition to sustainable power solutions. The agreement was formalized on Monday at the Mission 300 Africa Energy Summit in Dar es Salaam, where IFC partnered with Havenhill Synergy Ltd., Prado Power Ltd., PriVida Power Ltd., Sosai Renewable Energies Ltd., and Virtuitis Solaris Ltd.

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Diamonds International News

India’s Diamond Industry Navigates Challenges Amid Global Slowdown

India is emerging as a bright spot for cut and polished diamonds, despite a slowdown in key markets such as the US and China, according to Amit Pratihari, Managing Director of De Beers India, in an interview with Reuters on Wednesday. India remains the world’s largest hub for cutting and polishing diamonds, accounting for approximately 90% of the world’s polished diamonds, according to Indian government data. This year, however, the country’s exports of cut and

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Local Infrastructure News

Namibe Ornamental Rock Development Hub Begins Construction

The construction of the Ornamental Rock Development Hub in Namibe province officially began on Tuesday with the laying of the first stone. The event was attended by the Secretary of State for Mineral Resources, Janio Correa Victor, and the provincial governor, Archer Mangueira, who jointly led the ceremony. The hub, set to create approximately 400 jobs, is being developed by Telhabel. According to a statement from the provincial government of Namibe, the project aims to

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Local Exploration News Oil

Angola’s Parliament Approves Block 14 Oil Concession Changes for Joint Exploration with DR Congo

Angola’s Parliament unanimously approved a request this Wednesday for authorization to modify the oil concession for Block 14, which includes areas of joint exploration between Angola and the Democratic Republic of Congo (DRC). In his presentation, the Secretary of State for Oil and Gas, José Barroso, explained that the proposed changes involve detaching the Negaje and Menongue development areas from Block 14 for integration into the Block 14/23 concession. This adjustment will help redefine the

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International News

Ghana Achieves Record $5 Billion Trade Surplus in 2024 Driven by Gold Exports

Ghana recorded a historic $5 billion trade surplus in 2024, bolstered by a sharp increase in gold exports, according to the Bank of Ghana. The surplus marked a significant jump from the $2.7 billion recorded in 2023, underscoring the country’s financial progress. Gold exports soared by more than 50% to $11.6 billion, solidifying the country’s reputation as a major gold producer. This strong trade performance is expected to provide much-needed stability to Ghana’s economy, which

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News

Africa to Launch 41 Green Hydrogen Projects by 2030 Amid Challenges

Africa is set to begin constructing 41 green hydrogen projects by 2030, according to the Energy Industries Council (EIC), a global energy trade body. Despite the sector’s potential, it faces significant challenges, including securing buyers, developing regulatory frameworks, and building essential infrastructure. North African nations like Egypt, Algeria, and Morocco, with year-round sunshine, are well-positioned for investments in green hydrogen production and export facilities, as highlighted in the Africa OPEX report 2025. However, the report

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Local Mining Projects News

Absa Bank Backs $160 Million Loan for Pensana’s Angola Rare Earths Project

Pan-African lender Absa Bank, through its Corporate and Investment Banking division, has conditionally approved a credit term sheet for a 50% participation in a $160-million syndicated loan facility for London-listed Pensana’s Longonjo rare earths project in Angola. The approval is subject to the conclusion of definitive loan documentation, fulfilment of specified conditions, and obtaining political and commercial risk insurance from a reputable insurer for Absa’s exposure under the facility. The loan will provide senior funding

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Diamonds International News

AWDC Urges Belgian Govt to Support Diamond Industry Amid Economic Crisis

The Antwerp World Diamond Centre (AWDC) has called on the Belgian government to improve the operating environment for the diamond industry, following what it described as a “crisis” year for the sector. Belgium’s total diamond import and export figures fell by 25% in 2023, driven by “significant economic factors” that impacted both domestic and global markets, the AWDC reported. “The diamond industry is facing a severe global crisis,” said Karen Rentmeesters, CEO of AWDC. “Internationally,

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Local News Transport and Logistics

EU Commits to Supporting Sustainable Development of Lobito Corridor

The European Union (EU) has expressed its interest in participating in the development of the Lobito Corridor, recognizing its potential for sustainable and inclusive economic diversification, including increased household income in the region. Sylvie Millot, Head of the EU’s Southern Africa and Indian Ocean Unit, confirmed this on Friday in Benguela, following a courtesy meeting with the provincial governor of Benguela. She emphasized that the Lobito Corridor is a key priority for the EU in

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Local News Transport and Logistics

AIA Calls for Feasibility Study to Enhance Lobito Corridor’s Economic Impact

Members of the Angolan Industrial Association (AIA) have emphasized the importance of conducting a feasibility study for the construction of connection branches between key large-scale production centers and the Lobito Corridor. This initiative is seen as a priority to maximize the economic benefits of this significant infrastructure, which serves both the Angolan economy and the southern region of Africa. The message was conveyed by the president of the association, José Severino, who outlined the vast

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