Vital Industry News
Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project Seplat Accelerates Production Growth with Idle Well Revival Program Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations Angola’s MIREMPET Assesses Mining and Oil Potential in Icolo & Bengo Province Nigeria to Launch Cawthorne Crude Exports as Output Recovers Egypt and Scatec Discuss Expanding Renewable Energy and Green Investment Angola Launches Digital Mining Registry to Modernise Licensing and Boost Transparency
Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

More Angolan Mining News

Diamonds Corporate News International

Lucara Reports Lower 2025 Earnings as Karowe Underground Expansion Advances

Lucara Diamond Revenue Falls in 2025 as Botswana’s Karowe Underground Project Requires Additional Funding Canada-listed…
Local Corporate News Mining Projects

Cascade Natural Resources Boosts Investment in Pensana to Accelerate Longonjo Rare Earths Project

Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine…
Corporate News International Oil

Seplat Accelerates Production Growth with Idle Well Revival Program

Seplat Restores 49 Idle Wells, Targets 50 More as Offshore Output Surges After ExxonMobil Asset…
Corporate News Gas International

Eni Raises Stake in Algeria’s Touat Gas Field to 42.9% After Engie Exit

Eni Expands Position in Algeria’s Touat Gas Field Following Engie Withdrawal Eni has increased its…
Oil Corporate News International

Nigeria Restructures OPL 245, Clearing Path for Shell and Eni Development

Nigeria Splits OPL 245 Into Four Blocks as Shell and Eni Move to Develop 9-Billion-Barrel…
Local News Transport and Logistics

Port of Lobito Extends Timoneiro Concession for Towing and Marine Operations

Port of Lobito Renews 15-Year Towing and Marine Services Concession with Timoneiro Port of Lobito…
Local Energy News

DRC and Angola Partner with Somagec on $1.2B Energy Transmission Projects

DRC and Angola Launch Major Cross-Border Energy Transmission Lines to Boost Industrial Growth and ElectrificationThe Ministry of Water Resources and Electricity of the Democratic Republic of Congo (DRC), represented by Minister Aime Sakombi Molendo, has signed an agreement with Moroccan firm Somagec to develop two ambitious energy transmission lines connecting Angola and the DRC. According to a statement, the 400 kV transmission line projects include: High-Voltage Infrastructure for Regional Integration The Soyo-Inga-Cabinda line is a

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International News Oil

Egypt Commits $4 Billion to Modernize Oil Refineries and Boost Energy Security

Egypt Launches $4B Refinery Upgrade Plan to Reduce Fuel Imports and Strengthen Regional Energy RoleEgypt is investing $4 billion to modernize and expand its oil-refining sector in a strategic move to enhance energy security, increase local value creation, and reduce costly fuel imports. Karim Badawi, Minister of Petroleum and Mineral Resources, outlined the plan, which includes six refinery upgrade projects aimed at increasing national refining capacity and improving operational efficiency. “The government has developed a

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Corporate News Diamonds International

De Beers Reports $511 Million Loss in 2025 Amid Weak Global Diamond Demand

De Beers Posts $511M Loss as Chinese Demand Slows and U.S. Tariffs Hit Global Diamond Trade De Beers, Africa’s largest diamond producer, reported a substantial $511 million loss for 2025, compared with a $25 million loss in 2024. The sharp decline reflects weaker demand in China, U.S. tariff pressures, and softer global diamond prices affecting key operations in Botswana, Namibia, and South Africa. Production and Operations Rough diamond production fell 12% to 21.7 million carats,

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International Corporate News Diamonds

Petra Diamonds Reports Stable EBITDA Despite Weaker Revenue in H1 2026

Petra Diamonds Posts $26M Adjusted EBITDA Amid Lower Revenue; Cullinan Blue Diamond Highlights Ore Quality London-listed Petra Diamonds has reported revenue of $100 million for the six months ended December 31, 2025, down from $115 million in the same period a year earlier. The company attributes the decline to the timing of tenders between December 2025 and January 2026. Strong Diamond Inventory and Product Mix As of December 31, 2025, Petra held 608,217 carats of

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Corporate News Local Oil

Sonangol Seeks $4.8 Billion from China to Fund Lobito Refinery Expansion

Angola’s Sonangol Targets $4.8B Chinese Financing for Lobito Refinery Without Oil-Backed Collateral Sonangol, Angola’s state oil company, is pursuing a $4.8 billion loan from Chinese financial institutions to accelerate construction of its new refinery at the Atlantic port of Lobito. This could be Sonangol’s first major borrowing from China in seven years. Sebastiao Gaspar Martins told reporters on Wednesday that the financing effort is intended to fund the next phase of the $6.2 billion refinery

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Local Corporate News Mining Projects

Sonangol Eyes Critical Minerals as Profits Dip Amid Oil Sector Challenges

Angola’s Sonangol Plans Diversification into Critical Minerals Following 2025 Profit Decline Sonangol, Angola’s state-owned oil giant, announced on Wednesday plans to diversify into critical minerals, even as it reported a slight decline in net profit for 2025. Executives revealed that Sonangol posted net earnings of over $750 million in 2025, down from roughly 736 billion kwanzas in 2024 equivalent to about $807 million at current exchange rates. The conglomerate, which holds stakes in multiple offshore

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Gold International Mining

Ghana to Channel Artisanal Gold into Formal Trade to Boost Revenue

Ghana Launches ASM Gold Formalisation Program Targeting $20 Billion in Annual Foreign-Exchange Inflows Ghana plans to direct approximately 127 metric tons of artisanal and small‑scale mining (ASM) gold annually into official trade channels under revised sector reforms, aiming to increase foreign-exchange earnings and curb smuggling, Cassiel Ato Forson announced on Wednesday. Across Africa, ASM gold leakage costs countries billions each year as undeclared production is smuggled through porous borders to global trading hubs such as

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Diamonds Corporate News International

Botswana Diamonds Rebrands as Botswana Minerals, Expands into Copper

Botswana Diamonds to Rebrand as Botswana Minerals (BMIN) and Diversify into Copper Exploration Botswana Diamonds plc (LON: BOD) will rebrand as Botswana Minerals and begin trading under the new ticker BMIN from 27 February, as the company broadens its portfolio to include copper exploration amid a prolonged downturn in the diamond sector. The rebranding follows a strategic review supported by an advanced artificial intelligence model applied to the company’s 95,000 square kilometre geological database, which

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International Oil Petroleum Transport and Logistics

ZMA Adopts Dip Stick and Chart Method for Cross-Border Fuel Tankers

Zambia Metrology Agency Recognises Dip Stick and Chart Method for Petroleum Imports from Tanzania The Zambia Metrology Agency (ZMA) has announced the adoption of the dip stick and chart method as a recognised secondary reference measurement system for tanker trucks importing petroleum products into Zambia. In a statement issued on 24 February 2026, ZMA Executive Director Humphrey Nkobeni confirmed that dip sticks and calibration charts certified by the Weights and Measures Agency will now be

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Local Mining Projects

Angola Eyes BHP Return as Mining Reforms Attract Global Investors

Angola Expects BHP Reinvestment as Mining Reforms Boost Foreign Investor Confidence Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, said he expects BHP Group to reinvest in the country, citing growing foreign interest driven by sector reforms. In an Interview, Azevedo noted that BHP Australia’s largest mining company has expressed strong interest in returning to Angola nearly two decades after exiting the market. Reform-Driven Investment Appeal During engagements with Australian investors at the

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