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Local News Oil

Angola’s Oil Tax Revenues Rise 25.35% in January

18, March, 202518, March, 2025

Angola’s oil tax revenues reached 975.88 billion kwanzas in January, a 25.35% increase from the 779 billion collected in December, according to the Ministry of Finance. This growth was driven by gas tax payments, which contributed 148.64 billion kwanzas, alongside increases in concessionaire revenues and petroleum production tax, which rose by 24.78% and 26.86% to 570.56 billion kwanzas and 43.70 billion kwanzas, respectively. Despite this revenue boost, oil exports and the average price per barrel

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Corporate News Diamonds Local

TAGS & Sodiam Sell $15.4M in Rough Diamonds at 2025 Luanda Tender

18, March, 202518, March, 2025

Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold more than $15.4 million worth of large rough diamonds at their first tender of the year. The sale, held from March 5 to 13 in Luanda, featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats. Approximately 95% of the goods found buyers. TAGS, which markets production from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele—saw contributions from

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Diamonds International News

EU Threatens Tariffs on US Diamonds and Metals in Response to Trade Dispute

18, March, 202518, March, 2025

The European Union (EU) has announced plans to impose tariffs on US imports, including diamonds, gemstones, and metals used in jewelry production, in retaliation for what it calls “unjustified” taxes imposed by the US on aluminum and steel. “The Commission regrets the US decision to impose such tariffs, considering them unjustified, disruptive to transatlantic trade, and harmful to businesses and consumers, often resulting in higher prices,” the EU stated last week. The proposed countermeasures could

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International Gas Oil

U.S. Approves $5 Billion Loan to Revive Mozambique LNG Project

18, March, 202518, March, 2025

The U.S. Export-Import Bank has approved a nearly $5 billion loan to restart the long-stalled Mozambique LNG project, marking a significant step toward resuming development led by French oil giant TotalEnergies. Initially expected to be operational by 2029, the project faced major setbacks after Islamist insurgents attacked the Cabo Delgado region, forcing TotalEnergies to declare force majeure and halt construction. The U.S. Export-Import Bank originally committed $4.7 billion to the $20 billion project under the

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Diamonds International News

Botswana Targets Wealthy Young Americans to Boost Natural Diamond Sales

18, March, 202518, March, 2025

Botswana, the world’s top diamond producer, is ramping up efforts to attract affluent young American buyers to its natural diamonds amid growing competition from lab-grown alternatives. To capture their attention, the country is leveraging social media platforms like Instagram and TikTok. As part of this strategy, Botswana recently hosted an exclusive luxury event in New York’s Greenwich Village, where social media influencers were treated to a fine dining experience at a Michelin-starred restaurant, according to

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International Gas News

U.S. Loan Reauthorization Revives Mozambique LNG Project

15, March, 202515, March, 2025

The African Energy Chamber (AEC) has welcomed the U.S. Export-Import Bank’s (EXIM) decision to reauthorize a $4.7 billion loan, originally approved under the Trump administration, to support Mozambique’s Liquefied Natural Gas (LNG) project. Led by TotalEnergies, the $20 billion Mozambique LNG project had stalled in 2021 due to security concerns in the Cabo Delgado province. With renewed financial backing, the project is now set to move forward, positioning Mozambique as a key player in the

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Corporate News Diamonds International

Botswana Government Halts Progress on HB Antwerp Diamond Deal

15, March, 202515, March, 2025

Botswana’s plan to acquire a 24% stake in Belgian gem trader HB Antwerp, initially proposed by the previous government, remains uncertain. The deal, announced in March 2023 by former President Mokgweetsi Masisi, was intended to challenge Botswana’s long-standing partnership with De Beers by allowing State-owned Okavango Diamond Company to receive polished rather than rough prices for some of its sales. However, the agreement was never finalized. “They were still conducting due diligence and never closed

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Corporate News Diamonds International

Gem Diamonds Boosts Profitability Amid Market Challenges

13, March, 202513, March, 2025

Despite a tough diamond market in 2024, London-listed Gem Diamonds delivered strong financial results, driven by cost containment, operational efficiencies, and strategic capital allocation, CEO Clifford Elphick reported. Global economic uncertainty, persistent inflation, and geopolitical tensions weighed on diamond prices throughout the year. However, Gem Diamonds achieved a 10% revenue increase, reaching $154.2 million, primarily due to the sale of 13 diamonds exceeding 100 carats each. Cost-cutting measures contributed to a 95% surge in EBITDA,

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Corporate News International Mining Projects

Botswana Diamonds Expands Exploration with 11 New Prospecting Licences

13, March, 202513, March, 2025

AIM-listed Botswana Diamonds has applied for 11 prospecting licences in Botswana, targeting copper, silver, cobalt, gold, nickel, zinc, and platinum group metals. This move follows the company’s AI-driven exploration programme, which initially focused on diamonds but uncovered hidden polymetallic deposits across the country. The nationwide AI exploration initiative began with a focus on diamonds. However, during data analysis, it became evident that the technology could also identify undiscovered polymetallic targets. “Our analysis has revealed a

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Renewable Energy International News

Mozambique Expands Solar Power with $110 Million Investment

13, March, 202513, March, 2025

A private Mozambican consortium plans to invest $110 million (€101 million) in a solar power plant in Gaza province, southern Mozambique, to strengthen the national grid, according to official documents accessed by Lusa. The Chibuto Solar Power Plant, a joint initiative between Sal Energia and state-owned Electricidade de Moçambique (EDM), will have an installed capacity of 95 MW. Sal Energia will develop, finance, and construct the plant, along with the necessary grid connection infrastructure. The

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