Puma Energy Zambia PLC, a subsidiary of Puma Energy (Ireland) Holdings Limited, has reported a profit after tax of approximately K255 million for the year ending December 31, 2023. This increase is attributed to a 12% rise in sales volumes and higher selling prices driven by the global increase in oil prices. According to the audited financial results obtained by the Zambian Business Times (ZBT), the company recorded a profit after tax of K254.79 million,
ProMarks, an international engineering company specialized in the energy sector and Trafigura, a market leader in the global commodities industry, yesterday signed a Memorandum of Understanding (MOU) with the Government of Angola to conduct a technical and economic viability study and to develop a Public Private Partnership model for a major regional power transmission and supply project. The signing ceremony was held in Luanda in the presence of government representatives from Angola, alongside other diplomatic
Junior mining company Minbos has announced a nonbinding memorandum of understanding (MoU) with South Africa-based Foskor for a potential supply agreement from its Angola mine. Currently, Foskor sources phosphate rock for its Richards Bay phosphoric acid-based fertilizer plant from its mine in Phalaborwa. However, Minbos suggests Foskor is exploring additional supply sources. Under the MoU, a series of bulk samples and trials will assess Minbos’ phosphate rock for commercial suitability. Successful trials will lead to
Gem Diamonds, listed on the London Stock Exchange, has recovered a 123.20 ct Type II white diamond from its Letšeng mine in Lesotho. This notable find marks the eighth diamond over 100 carats that the company has unearthed this year. Gem Diamonds holds a 70% stake in the Letšeng mine, renowned for its production of large, exceptional white diamonds. It is recognized as the highest dollar-per-carat kimberlite diamond mine globally.
Lucara Diamond Corp, owner of the Karowe mine in Botswana, has appointed Dr. Lauren Freeman as Vice President of Mineral Resources, effective from July 1. In her new role, Freeman will oversee all aspects of mineral resource management at Lucara’s flagship Karowe mine and will play a key role in shaping the company’s development strategy. Freeman brings over 25 years of experience in the mining industry, specializing in large Type II diamonds. Her expertise spans
Petra Diamonds revealed expansion plans for its Finsch and Cullinan mines in South Africa, targeting production of between 3.4 to 3.7 million carats by 2028, representing a 15% to 17% increase over three years. CEO Richard Duffy stated that the expansion, requiring about $100 million in annual sustaining and expansion capital, will be self-funded. The UK-listed diamond producer also announced the appointment of Johan Snyman as CFO, effective October, succeeding Jacques Breytenbach who announced his
The proposed sale of Anglo American’s 85% stake in De Beers would enhance market visibility and focus, according to Richard Duffy, CEO of Petra Diamonds. Duffy suggested that De Beers, as an independent entity, would invest more in marketing efforts. Anglo American announced on May 14 its intention to sell De Beers as part of a group-wide restructuring, which includes unbundling its shares in Anglo American Platinum. During an investor day, Duffy outlined new life-of-mine
In the past seven days, Brent oil has been sold on international markets for between $85 and $86 per barrel. This price stability above $80 has persisted for more than 15 days, following a price of $79.34 per barrel on June 7th. Before June 7th, Brent oil remained around $70 per barrel for four consecutive sessions. Over the past month, the highest price for a barrel of Brent was $86.50, recorded this past week, while
Friburge Energies, an Angolan company providing services in the oil, gas, and mining sectors, has recently joined the United Nations Global Compact, a voluntary leadership platform for the development, implementation, and dissemination of responsible business practices. In a statement, Friburge Energies highlighted that joining the Global Compact reflects their commitment to positive change through environmental protection, good governance practices, and enhanced social responsibility. “This change generates positive results for companies, people, and societies,” the company
The National Oil, Gas and Biofuels Agency (ANPG) will soon commence oil exploration prospecting in the municipalities of Rivungo, Calai, and Cuangar in the province of Cuando Cubango. Following a meeting held by the provincial governor of Cuando Cubango, José Martins, ANPG’s director of the Institutional Security Office, Manuel Domingos Dembe, announced that the first phase involves demining work in four areas identified for oil prospecting. Manuel Domingos Dembe stated that ANPG is operating in
