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Diamonds Local News

Angola’s Diamond Exports Generate $1.5 Billion in 2024

1, April, 20251, April, 2025

Angola earned $1.5 billion from the export of over 10 million carats of diamonds in 2024, according to Secretary of State for Mineral Resources, Jânio Victor. He shared these figures during a presentation on the country’s diamond production and commercialization performance for 2024, along with projections for the first half of 2025, held in Luanda on Friday. Victor confirmed that the United Arab Emirates and Belgium remained Angola’s primary export markets. “In 2024, the country

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Local Diamonds News

Angola’s Diamond Export Revenue Drops by 3% in 2024

1, April, 20251, April, 2025

Angola’s diamond export revenue declined by nearly 3% in 2024 compared to the previous year, according to data presented during a ceremony reviewing the diamond subsector’s performance and projections for 2025. In 2024, the country exported approximately 10.2 million carats of diamonds, generating nearly $1.5 billion—down 2.95% from the $1.53 billion recorded in 2023, according to the Angolan National Diamond Trading Company (Sodiam). Despite the drop in export revenue, Angola recovered just over 14 million

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Diamonds Corporate News International

Debswana to Halt Operations at Letlhakane and Jwaneng Modular Plants Amid Market Downturn

1, April, 20251, April, 2025

Debswana Diamond Company will suspend production at its Letlhakane Tailings Plant (LTP) and Jwaneng Modular Plant (JMP) by the end of March 2025. This decision aligns with the company’s strategic response to ongoing challenges in the global diamond market, where demand and rough diamond prices have continued to decline through 2023 and 2024. In light of these conditions, Debswana’s Board of Directors, during its March meeting, revised the 2025 production target from 18 million carats

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Oil International News

Global Oil Prices Surge Amid Geopolitical Tensions and Production Concerns

31, March, 202531, March, 2025

The global oil market saw a significant rise in the price of a barrel, reaching $72.20 on March 21, 2025, marking a 1.5% weekly increase. This continues the pattern of fluctuations observed in recent weeks on international commodities markets. As reported by the Central Bank of Congo (BCC), “As of March 21, 2025, the price of oil rose by 1.5% compared to the previous period, where it traded at $70.10 per barrel.” Experts at the

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Oil International News

Uganda Awards UAE-Backed Firm Contract to Build $4 Billion Oil Refinery

31, March, 202531, March, 2025

A UAE-backed company has secured the contract to construct Uganda’s first crude oil refinery, a $4 billion project in Kabaale, Hoima District. The facility will process 60,000 barrels of crude oil per day, enhancing Uganda’s energy independence and reducing reliance on fuel imports. UAE-based Alpha MBM Investments holds a 60% stake in the refinery, while Uganda’s National Oil Company retains the remaining 40%. The project aims to maximize Uganda’s oil reserves in the Albertine Graben

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International News Oil

MRS Oil to Delist from NGX and Move to NASD OTC Exchange

31, March, 202531, March, 2025

MRS Oil has finalized plans to voluntarily delist its shares from the Nigerian Exchange Limited (NGX) and migrate to the NASD OTC Securities Exchange. The decision was approved during an Extraordinary General Meeting (EGM) on June 25, 2024, and disclosed through a corporate filing with NGX. In line with NGX Delisting Rules (Rules 1.10 and 1.13(f)) and other regulatory requirements, MRS Oil will compensate shareholders who opposed the delisting or were absent from the EGM

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International Corporate News Oil

TotalEnergies and Partners Advance Venus Field Development Offshore Namibia

31, March, 202531, March, 2025

TotalEnergies EP Namibia B.V. (TEEPNA) and its joint venture partners—Impact Oil & Gas, NAMCOR, and QatarEnergy—plan to drill up to 40 subsea wells on the Venus Field offshore Namibia. Hydrocarbons will be processed and stored on a Floating Production, Storage, and Offloading (FPSO) vessel. TEEPNA has applied for an Environmental Clearance Certificate (ECC) to develop Block 2913B and produce light crude oil. To secure approval, an Environmental and Social Impact Assessment (ESIA) is being conducted

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International News Renewable Energy

Mozambique and Germany Partner to Advance Green Hydrogen Development

31, March, 202531, March, 2025

Mozambique and Germany have signed a €500,000 financing agreement to support the development of the Green Hydrogen Project in Mozambique, aiming to diversify the country’s energy matrix. “The promotion of green hydrogen in Mozambique can help diversify energy supply, create job opportunities, and drive industrial and infrastructure development,” said Ronald Münch, Germany’s ambassador to Mozambique, in a joint statement. The agreement was signed between Eletricidade de Moçambique (EDM) and the German Development Bank (KfW), which

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International Gold

Fatal Accidents Highlight Dangers of Illegal Gold Mining in Manica in Mozambique

31, March, 202531, March, 2025

Two men have died in an artisanal gold mine in Nhampassa, Báruè district, Manica province. One was killed when a tunnel collapsed, while the other suffered fatal injuries after falling into a mining pit. The first victim died instantly at the scene, while the second succumbed to his injuries on the way to Catandica District Hospital after being rescued by fellow miners. The mining site is owned by Sociedade Mineira de Nhampassa (SOMINHA). According to

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International

TotalEnergies Supports Official Investigations into Human Rights Allegations in Mozambique

31, March, 202531, March, 2025

Mozambique LNG, in which TotalEnergies holds a 26.5% stake, has called for a formal investigation into alleged human rights abuses reportedly committed by members of Mozambique’s Defence and Security Forces in the Afungi Peninsula, Cabo Delgado, during the summer of 2021. Following media reports in 2024, the company requested in November that Mozambican authorities investigate the claims to establish the facts. During his meetings in late January with Mozambique’s new leadership, including President Daniel Chapo,

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