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International News Oil

Tanzania Launches $420 Million Synthetic Fuel Project to Rival Dangote’s Refinery Dominance

28, October, 202528, October, 2025

Tanzania Unveils $420 Million Gas-to-Liquid Plant, Set to Challenge Dangote in Africa’s Jet Fuel Market Tanzania has announced plans for an ambitious $420 million synthetic fuel project designed to transform the country into a leading exporter of jet fuel in Africa—a move that could challenge the dominance of Nigeria’s Dangote Group, which currently leads the continent’s refined fuel market. The project centers on the development of a gas-to-liquid (GTL) plant that will produce diesel, jet

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International Corporate News Oil

Dangote Refinery Reinstates Laid-Off Engineers Amid Labour Dispute with PENGASSAN

28, October, 202528, October, 2025

Dangote Oil Refinery Rehires Dismissed Engineers After Labour Talks with PENGASSAN The Dangote Oil Refinery has reinstated several engineers who were laid off earlier this year, following negotiations with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and government officials. The affected employees were initially caught in a dispute between the refinery and the labour union, which arose after the company announced a reorganisation in September that led to staff terminations linked

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International News Renewable Energy

AFC and Infinity Power Secure Financing for 200MW Ras Ghareb Wind Farm in Egypt

28, October, 202528, October, 2025

Africa Finance Corporation and Infinity Power Reach Financial Close on $153 Million Ras Ghareb Wind Project Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced that its portfolio company Infinity Power has reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt — a milestone that underscores Africa’s growing ability to mobilize international capital for large-scale, African-led renewable energy projects. Infinity Power secured US$153 million in senior debt financing from

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Corporate News Local Mining Projects

Pensana and Vacuumschmelze Forge Strategic Rare Earth Partnership to Strengthen Western Supply Chain

26, October, 202526, October, 2025

Pensana signs deal with Germany’s Vacuumschmelze to supply rare earths for U.S. magnet production ahead of 2027 China import ban London-listed Pensana has signed a memorandum of understanding (MoU) with Vacuumschmelze (VAC), a Germany-based global leader in magnetic materials and rare-earth permanent magnets, marking a major step toward building a resilient Western supply chain for critical minerals. VAC, through its newly commissioned eVAC Magnetics facility in Sumter, South Carolina, is spearheading efforts to boost domestic

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Transport and Logistics Local News

DRC Begins Construction of Kalamba-Mbuji Dry Port to Boost Angola Trade Links

26, October, 202519, January, 2026

Congo launches Kalamba-Mbuji dry port project in Kasai-Central to strengthen Angola trade corridor The Office of Multimodal Freight Management (OGEFREM) has announced the start of preliminary construction work on the Kalamba-Mbuji dry port in Luiza territory, Kasai-Central province. Regional Director Matthieu Tshilumba Kalenga confirmed the development on October 16, 2025, following a meeting with Governor Joseph-Moïse Kambulu Nkonko, noting that funding for the initial phase is already secured. The first stage will involve constructing a

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Corporate News Diamonds Local

Angola Joins Bidders to Acquire Anglo American’s Stake in De Beers

26, October, 202526, October, 2025

Angola submits bid for Anglo American’s De Beers stake as Botswana and investor groups compete Angola has submitted a formal offer to acquire Anglo American’s 85% majority stake in De Beers, joining a growing list of potential buyers that includes Botswana and investor groups led by former De Beers executives. State-owned Angolan diamond producer Endiama presented a “concrete and well-defined proposal” and is moving forward with subsequent steps, said CEO José Manuel Ganga Júnior, who

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Transport and Logistics International

DRC Seeks $500 Million World Bank Support for Lobito Corridor Project

26, October, 202526, October, 2025

DRC requests $500M from World Bank to develop Lobito Corridor, boosting regional trade and infrastructure During the IMF and World Bank Annual Meetings, the Democratic Republic of Congo (DRC) Finance Minister, Doudou Fwamba, submitted a $500 million financing request to the World Bank to support the Lobito Corridor project. The Finance Ministry confirmed that the institution has agreed to review the proposal. In discussions with World Bank Managing Director for Operations Anna Bjerde, Minister Fwamba

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Corporate News International Oil

Woodside Energy Shares Hit Two-Week High After Raising Fiscal 2025 Production Forecast

26, October, 202526, October, 2025

Woodside Energy lifts 2025 production outlook despite lower Q3 revenue, shares surge 4% Shares of Australia’s Woodside Energy rose to a two-week high on Wednesday after the company raised its fiscal 2025 production forecast, even as third-quarter revenue declined 9.4% due to lower average realised prices. The country’s largest independent energy firm now expects fiscal 2025 production to range between 192 million and 197 million barrels of oil equivalent (mmboe), up from its previous guidance

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International Diamonds News

Moody’s Downgrades Botswana’s Credit Rating Amid Diamond Industry Slump

26, October, 202519, January, 2026

Moody’s cuts Botswana’s rating to Baa1, citing diamond market downturn and rising government debt Global credit ratings agency Moody’s Investors Service has downgraded Botswana’s sovereign credit rating from ‘A3’ to ‘Baa1’, citing mounting challenges as the government struggles to adjust to a structural decline in the diamond industry and a rising debt burden. “The economy remains heavily reliant on capital-intensive diamond mining; diversification efforts lag due to reform delays, while exposure to climate shocks persists,”

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Diamonds International News

Lab-Grown Diamond Prices Collapse as Consumers Return to Natural Stones

26, October, 202526, October, 2025

Lab-grown diamond demand drops amid oversupply; consumers shift back to natural diamonds, says World Diamond Council president Lab-grown diamonds are rapidly losing their shine as oversupply floods the market and prices plummet, prompting consumers to rediscover the allure of natural stones, according to World Diamond Council President Feriel Zerouki. After reaching record highs in early 2022, natural diamond prices slumped in the second half of the year—largely due to the rising popularity of lab-grown gems,

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