Angolan Mining Oil & Gas

Actress Lupita Nyong’o recently visited De Beers’ Venetia diamond mine in Limpopo as part of her role as a global ambassador for the company. During her visit, she was shown how each facet of the production value chain supports sustainable development. Her tour included the 32,000-hectare Venetia Limpopo Nature Reserve, which De Beers uses for nature conservation. The Venetia mine, which began production in 1993, has grown to become South Africa’s leading diamond mine, accounting

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Trade union Uasa has signed a five-year wage agreement with the management of the Cullinan mine, owned by London-listed Petra Diamonds. The agreement, effective from July 1, 2023, to July 1, 2028, stipulates a 5.5% or consumer price inflation (CPI) increase for entry-level (C Lower) employees for the first three years and a 6% increase in years four and five. C Upper employees will receive a 5% or CPI increase annually for the first three

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De Beers has lowered its production plan for 2024 by 3 million carats in response to the diamond market’s ongoing downturn and following a decline in first-half sales and profit. The miner expects to recover 23 million to 26 million carats of rough this year, compared with an earlier forecast of 26 million to 29 million carats, parent company Anglo American said Thursday in its interim results. Production was 31.9 million carats in 2023. The

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De Beers has sold an iron-ore interest in Australia as part of its efforts to streamline the business and offload noncore units. The company has entered into a definitive agreement to sell a royalty right related to the Onslow Iron project in West Pilbara, it said Monday. Taurus Funds Management will acquire the subsidiary company, De Beers Exploration Australia, for $125 million in cash up-front and up to $25 million at a later stage. De

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