DRC Signs Gold Supply Deal with UAE Firm to Expand Access to Global Bullion Markets
Dangote Plans Major Refinery Expansion to Boost Capacity and Create Thousands of Jobs
South Africa Turns to US Fuel Imports as Middle East Supply Risks Reshape Energy Trade
Senegal Takes Full Control of Yakaar-Teranga Gas Project After Kosmos Energy Withdrawal
Rhino Resources Advances Capricornus Oil Discovery Appraisal Offshore Namibia
TotalEnergies Expands Local Supplier Spending as Namibia’s Oil and Gas Sector Gains Momentum
France Intensifies Push into Namibia’s Oil Sector as TotalEnergies Targets Major Offshore Projects
Zambia Secures $1.5 Billion China Deal to Add 900 MW Power Capacity and Strengthen Energy Security
Dangote Plans Major East Africa Refinery Expansion as African Leaders Push for Industrial Self-Sufficiency
DRC Pushes for Energy Transformation as It Showcases Massive Hydropower Potential at African Energy Forum
Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel Stable An oil tanker linked to Sonangol, named Sonangol Namibe, was damaged by an explosion last week while anchored near the Iraqi port of Khor al Zubair Port, according to a source from the Angolan state oil company. The vessel, which sails under the Bahamas flag, sustained material damage to its hull after one of its ballast tanks was struck.
Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia held a high-level meeting on Monday to review the implementation of energy cooperation projects, with a particular focus on the Angola-Namibia electricity interconnection. The discussions took place between Angola’s Minister of Energy and Water, João Baptista Borges, and Namibia’s Minister of Industries, Mines, and Energy, Modestus Tshitumbe Amutse. Also in attendance was Angola’s Secretary of State for Energy, Arlindo Carlos.
Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices Oil prices surged nearly 25% on Monday, reaching their highest levels since mid-2022, with Brent crude on track for a record one day gain. In contrast, gold fell 2% as the escalating Iran conflict disrupted global energy supplies, strengthened the dollar, and dampened expectations of near-term interest rate cuts. Agricultural markets, led by edible oils, rose in tandem with crude
Ghana’s GoldBod Plans Backup Export Routes as Dubai Flight Disruptions Threaten Artisanal Gold Trade Ghana’s state-run artisanal gold exporter, GoldBod, is preparing to shift shipments to alternative refining hubs if flight disruptions to the United Arab Emirates (UAE) continue, two sources familiar with the matter said. The move highlights Africa’s dependence on Dubai amid heightened Middle East tensions. Dubai, a major global gold trading hub supplying Switzerland, Hong Kong, and India, has experienced a seven-day
Oil Prices Jump Above $114 as Strait of Hormuz Disruptions Trigger Global Energy Market Fears Global oil prices surged sharply on Monday, March 9, 2026, as escalating geopolitical tensions in the Middle East and disruptions to maritime traffic in the Strait of Hormuz raised fears of a major shock to global energy supplies. According to energy market data, the international benchmark Brent crude was trading at around $114 per barrel at the start of the
Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across Africa A geopolitical conflict thousands of kilometres away is once again threatening to raise the cost of living across Africa. Within hours of US-led airstrikes on Iran on February 28, global oil markets reacted sharply, with Brent crude prices jumping from about $67 to above $82 per barrel a surge of more than 20% in just a few days. It
Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank of Uganda has announced it will begin purchasing gold from domestic producers this month, becoming the latest central bank to increase its bullion reserves amid surging global gold prices. The initiative forms part of a broader strategy to strengthen Uganda’s foreign exchange reserves and reduce exposure to global financial volatility, particularly as many central banks diversify away from the United
Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed Lucara Diamond reported lower revenue and earnings for 2025 as the company continued advancing the underground expansion of its flagship Karowe Diamond Mine in Botswana, while warning that additional financing will be required to complete the project. For the year ended December 31, 2025, Lucara sold 353,302 carats, down from 399,215 carats in 2024. Revenue declined to C$159.7 million, compared
Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine Global rare earths investment platform Cascade Natural Resources has increased its strategic investment in London-listed Pensana to $165 million, strengthening support for the company’s US-focused mine-to-magnet supply chain strategy. Cascade had initially committed $100 million, but the revised agreement expands the investment to accelerate development of key rare earth assets, particularly the Longonjo Rare Earths Project in Angola. Under the
Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset Deal Seplat Energy Plc has restored 49 previously idle wells to production following its US$1.28 billion acquisition of onshore and shallow-water assets from ExxonMobil, adding significant new capacity as part of a broader offshore turnaround strategy. The company confirmed in its latest audited financial results that the well restoration campaign was a key driver of offshore growth in 2025. Cost-Efficient
