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Diamonds Economy Local

Diamond Mining in Angola

22, August, 202322, August, 2023

Diamonds, the coveted gems that have captivated human imagination for centuries, have been central to Angola’s economic and social fabric. Nestled on the southwestern coast of Africa, Angola has emerged as one of the world’s leading diamond producers. This article delves into the intricate world of diamond mining in Angola, highlighting its historical significance, economic impact, environmental concerns, and efforts towards sustainable practices. Historical Significance Angola’s diamond mining history dates back to the late 19th

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Diamonds Mining

The Remarkable Journey of Diamond Formation

22, August, 202322, August, 2023

Diamonds, the dazzling gemstones that have captured human fascination for centuries, are born from the depths of the Earth in a process that spans millions of years. These precious gems hold within them the secrets of immense pressure, heat, and time, resulting in their unparalleled brilliance and enduring allure. The Geological Crucible: Diamonds begin their journey deep within the Earth’s mantle, approximately 90 to 120 miles below the surface. Here, extreme temperatures reach thousands of

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Diamonds Local Mining News

Luaxe mining project enters production phase soon

22, August, 202322, August, 2023

Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, has assured that the Luaxe mining project could soon start its diamond production. Diamantino Azevedo was speaking to the press at the end of another visit to the Luele Mining Company, located in the province of Lunda-Sul. The minister said that the work is taking place within the established schedule, having highlighted the commitment of those responsible for the Luaxe project, whose execution is in the

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Diamonds International News

De Beers to aid employees in evacuation amid wildfires in Canada’s Northwest Territories

21, August, 202321, August, 2023

Anglo American unit De Beers Group said on last week that it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires. Canadian officials ordered the evacuation of the Northwest Territories’ capital of Yellowknife and several smaller communities on Wednesday as a massive wildfire threatened the town of Hay River overnight. “The Gahcho Kué team

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Energy Exploration Gas International Oil

Global O&G Exploration Spending to Hit $50Bn in 2023

21, August, 202321, August, 2023

Global spending on conventional oil and gas exploration will hit over $50 billion in 2023, according to energy research company Rystad Energy. Upstream companies are strategically directing their investments towards offshore projects, focusing on lucrative regions that have a robust geological understanding. Rystad Energy says that up to 95% of the total expenditure in 2023 is allocated to offshore initiatives. “Upstream companies are facing a period of uncertainty. They are eager to capitalize on the increased

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Exploration International News Petroleum

Global Petroleum Gets Greenlight for Next Phase of PEL 94, Offshore Namibia

21, August, 202321, August, 2023

Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the

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International Mining News

Namibia Inks Rare Earth Minerals Deal with Japan

21, August, 202321, August, 2023

Namibia has signed an agreement with Japan for the joint exploration and development of rare earth minerals. The agreement falls under efforts by Japan to establish mineral supply chains for the development of electric vehicle batteries. Under the terms of the deal, Namibia’s state-owned mining company Epangelo and government agency the Japan Organization for Metals and Energy Security (JOGMEC) will work together on a series of exploration initiatives. Signed in Windhoek in August during Japanese Minister

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International News Oil Petroleum

Libya Plans Oil Tender for Domestic Private Sector

21, August, 202321, August, 2023

Libya’s state-owned oil company the National Oil Corporation (NOC) is preparing to launch a tender aimed at mobilizing private sector investment in oil production and development. Targeted towards domestic private players in Libya, the move marks the first time in the country’s history that Libyan companies have been invited to invest in the production segment of the value chain. The tender falls under efforts by the NOC to stimulate new investment, “increasing oil production and developing

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Gas International Oil Petroleum

Africa Finance Corporation Invests in Mahathi Infra to Transform Petroleum Product Transportation in Uganda

21, August, 202321, August, 2023

Africa Finance Corporation (AFC) the leading infrastructure solutions provider on the continent, has announced its investment in Mahathi Infra Uganda Limited, one of East Africa’s largest oil and gas downstream players. AFC’s US$95.25 million investment will finance the construction of two self-propelled barges for operation on Lake Victoria, providing a more efficient and less carbon intensive alternative to traditional trucking. The financing will also support enabling infrastructure including 14 petroleum storage tanks, 20 truck loading

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Gas International News Oil Petroleum

Dual rigs in action for TotalEnergies in Namibia

21, August, 202321, August, 2023

Namibia is emerging as a sought-after exploration destination due to significant oil discoveries like TotalEnergies’ Venus-1 and Shell’s Graff-1, La Rona-1, and Jonker-1. These findings confirm the presence of a functional light oil system offshore Namibia. Consequently, major oil companies and other industry participants are intensifying their drilling operations within the country. Regarding TotalEnergies’ ultra-deepwater Venus-1X exploration well, it was spud at the beginning of December 2021, using the Maersk Voyager drillship. The Venus discovery is a light oil and associated

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