Vital Industry News
De Beers Board Member Matome Tsholetsa Malema Passes Away Sodiam Raises $25.8 Million in 16th Rough Diamond Auction Shell Reaffirms Commitment to Reviving Angola’s Oil Production Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions Global Oil Prices Surge Amid Rising Tensions in the Middle East Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves
Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

More Angolan Mining News

Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global…
Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading…
Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell…
Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel…
Local Energy News

Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection

Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia…
International News Oil

Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium

Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices…
Energy

Rio Tinto’s Diavik Mine Reports 28% Drop in Diamond Production Amid Operational Disruptions

Diamond production at Rio Tinto’s Diavik mine in Canada fell by 28% year-on-year in the second quarter, following a temporary suspension of operations due to a bereavement period for workers involved in a plane crash. The mine produced 702,000 carats during the three months ending June 30, according to a statement from Rio Tinto on Tuesday. This decline was partly due to a tragic accident in January, where a small plane carrying workers to the

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Diamonds International News

Petra’s Sales Improve Amid Increase in Rough Offered

Petra Diamonds’ sales rose 13% for the full fiscal year as the miner recovered a higher proportion of rough and sold goods it had held over from the previous period due to low demand. Revenue increased to $366 million for the 12 months that ended June 30, the company reported Tuesday. Sales volume grew 36% to 3.2 million carats. The company, which operates the Cullinan and Finsch mines in South Africa as well as the

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International News Renewable Energy

Engie Energy Access Connects 220,000 Mozambican Households to Solar Power

Engie Energy Access has successfully connected over 220,000 families in Mozambique to solar energy through a project valued at more than €18.3 million, the company announced on Thursday. This initiative has provided solar power to over 1.2 million people across ten of Mozambique’s eleven provinces. The company, which started operations in 2019, is the sole renewable energy provider in Mozambique offering comprehensive off-grid solutions, including solar home systems and mini-grids. To strengthen its presence, Engie

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International Gas News

IMF Predicts Restart of TotalEnergies’ Cabo Delgado LNG Project in 2024

The International Monetary Fund (IMF) projects that TotalEnergies’ massive liquefied natural gas (LNG) project in Cabo Delgado, northern Mozambique, will resume development in 2024, with first exports anticipated within four years. According to the IMF’s recent report on the fourth review of the Extended Credit Facility (ECF) program, the onshore LNG project led by TotalEnergies is slated to restart next year. The report, released this month, notes that while the official resumption of the development

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International Oil

Rwanda-Backed Security Firm Hired for TotalEnergies’ Mozambique Gas Project Amid Controversy

A security firm linked to Rwanda’s ruling party has been contracted to safeguard TotalEnergies’ $20 billion liquefied natural gas (LNG) project in Mozambique, marking a significant expansion of Rwanda’s commercial interests in the region. According to The Financial Times, Isco Segurança—a joint venture between Rwanda’s Isco Global Limited and a local Mozambican company—is providing unarmed security services for the project in Cabo Delgado province. This development follows an Islamist insurgency attack in Palma in 2021,

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Diamonds Economy International News

Botswana’s Mineral Sector Faces Slower Growth in 2024 Due to Decline in Diamond Production

Botswana’s mineral sector is expected to experience slower growth in 2024 compared to the previous year, primarily due to a decline in diamond production. On July 13, the International Monetary Fund (IMF) revised Botswana’s growth forecast for 2024 from 3.6% to 1%, as reported by Mines.cd. This decline is anticipated to lead to a budget deficit increase from 3.45% to 6%, attributed to reduced revenue from mineral resources. In response to these challenges, the IMF

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International Energy News

Russia and Congo Sign Landmark Nuclear Cooperation Agreement

Russia and Congo-Brazzaville have signed a landmark agreement to cooperate in hydropower and peaceful nuclear energy, announced Russian nuclear company Rosatom. This agreement is part of Rosatom’s broader strategy to expand its nuclear activities across Africa. During a business visit to Congo, Nikolay Spassky, Rosatom’s Deputy General Director and Head of the International Activities Department, met with Emile Ousso, the Minister of Energy and Hydraulics, to finalize the agreements. The deal includes memoranda of understanding

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International News Oil

Egypt to Invest $1.2 Billion to Boost Oil Production Capacity

Egypt plans to significantly enhance its oil production capacity through a substantial investment. The government has announced a $1.2 billion investment aimed at increasing its oil output. Currently, Egypt is one of Africa’s largest oil producers with a capacity of approximately 559,000 barrels per day. The investment, slated for the 2024/2025 fiscal year, will fund the drilling of 110 exploratory wells. This initiative is part of a larger strategy to invest $7.2 billion in drilling

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Diamonds International News

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De

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Energy

Nigeria’s Oil Losses Highlighted at NEITI Board Retreat

During the opening ceremony of the 2024 NEITI board retreat in Lagos, the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, unveiled alarming statistics revealing significant losses in Nigeria’s oil sector. According to NEITI, Nigeria lost 619.7 million barrels of oil valued at $46.16 billion over a 12-year period from 2009 to 2020. Additionally, between 2009 and 2018, the country lost $1.84 billion worth of petroleum products from its refineries, equivalent

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