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Diamonds International News

India’s Diamond Industry Navigates Challenges Amid Global Slowdown

31, January, 202531, January, 2025

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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Corporate News Diamonds International

Botswana and De Beers Reach Diamond Extraction Deal, Ensuring Economic Stability

31, January, 202531, January, 2025

Botswana’s President, Duma Boko, who secured a victory in October’s elections, announced that his government has reached a diamond extraction and sales agreement with De Beers, providing much-needed certainty to the nation’s gem-dependent economy. The terms of the deal were finalized by midnight on January 24, and an official announcement is expected soon. Botswana is the world’s leading producer of rough diamonds by value, with the industry accounting for the majority of its income. Most

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Corporate News International Mining Projects

Golden Deeps Begins New Diamond Drilling Program to Expand Nosib Copper-Silver Deposit in Namibia

31, January, 202531, January, 2025

Golden Deeps has initiated a new diamond drilling program targeting the Nosib copper-silver deposit on its Otavi Mountain Land tenements in northern Namibia. The Nosib deposit, initially defined in June 2024, features a significant zone of copper-vanadium-lead-silver oxide and supergene mineralization from surface levels. As drilling extends deeper and further west, the deposit transitions into a primary copper-silver stratabound sulphide zone, hosted by the Nosib Formation clastic sediments—an uncommon geological setting in a region known

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International Corporate News Oil

Mozambique President Meets TotalEnergies CEO to Discuss Stalled LNG Project

28, January, 202528, January, 2025

Mozambique’s President, Daniel Chapo, recently met with Patrick Pouyanne, CEO of TotalEnergies, to discuss the status of the company’s delayed $20 billion liquefied natural gas (LNG) project in the southern African country. The Mozambique LNG project, initially expected to restart construction by the end of 2024 and begin gas production by 2029, has faced setbacks. Last week, TotalEnergies confirmed that force majeure remains in place for the project due to ongoing security concerns and pending

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Local Infrastructure News

Namibe Ornamental Rock Development Hub Begins Construction

28, January, 202528, January, 2025

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 Gas Oil

Angola’s 2024 Oil and Gas Exports Yield $31.4 Billion

28, January, 202528, January, 2025

Angola generated $31.4 billion in 2024 from the export of 393.4 million barrels of crude oil, sold at an average price of $79.70 per barrel, according to a government statement on Thursday. The Secretary of State for Oil and Gas, José Barroso, reported that China was the top destination for Angola’s oil exports, receiving 51.91% of the total, followed by India with 10.02%, Spain with 6.27%, and Indonesia with 4.81%. While the export volume increased

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Local Exploration News Oil

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

28, January, 202528, January, 2025

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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Corporate News International Oil

Marketers Consider Shifting from Dangote Refinery as Imported Fuel Prices Decline

28, January, 202528, January, 2025

Oil marketers have announced that the landing cost of Premium Motor Spirit (PMS), commonly known as petrol, decreased to ₦922.65 per litre as of Friday, marking a ₦32.35 drop from the previous ₦955 per litre price at Dangote’s loading gantry. This figure reflects several components, including shipping fees, import duties, and exchange rate variations. “The lower cost of imported petrol often serves as an incentive to dealers, and you can’t fault marketers who choose to

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International News

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

28, January, 202528, January, 2025

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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Corporate News International Oil

Algeria Partners with Chevron to Explore Offshore Oil Potential

28, January, 202528, January, 2025

Algeria has signed a two-year agreement with U.S. energy giant Chevron to evaluate offshore oil reserves in the Mediterranean, according to the country’s energy ministry. The agreement, established between Algeria’s national hydrocarbon agency, Alnaft, and Chevron North Africa, focuses on conducting detailed studies to assess offshore oil resources, identifying opportunities for exploration and development. This initiative is part of Algeria’s strategy to advance its hydrocarbon sector, attract high-quality investments, and enhance technical expertise in offshore

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