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
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
Sonangol is set to launch a bond issuance tomorrow August 15th, through which it will contract debt in the amount of 75 billion kwanzas with a maturity of five years (2023-2028), according to a statement released by the company on Friday. In the document, the oil company announces a Public Subscription Offering of bonds valued at 75 billion kwanzas, at a unit price of 10,000 kwanzas, corresponding to 10 million units at an interest rate
Anglo-Australian mining giant Rio Tinto is to build Canada’s largest solar power plant that willsupply electricity to its diamond mine in the Northwest Territories, the miner announced last week. The plant will cover a quarter of the electricity needs of the Diavik diamond mine by generating around 4,200 megawatt-hours of electricity annually. The move comes as Rio Tinto plans to achieve net-zero emissions across its operations by 2050. The solar plant is expected to cut the
Figured at 21.2 billion dollars at the beginning of the year 2023, the fortune of the Nigerian billionaire and the richest man in Africa, Aliko Dangote, recorded a fall of almost 6 billion dollars, from 21 $15 billion following the devaluation of Nigeria’s national currency, the Naira. According to data from the Bloomberg agency based on the Billionaires Index method, this drop, the highest recorded since 2014, is tributary to the wake of the elimination
Total sales stood at just over $106 billion, down from $150 billion in the second quarter of 2022. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins.” The company reported net income of $30 billion, compared to $48 billion in the second quarter of 2022, a decline of 37.8 percent. Aramco nevertheless raised its dividend
The Luele Mine, located in the Eastern region of the country, between the provinces of Lunda-Norte and Lunda-Sul, is expected to commence effective diamond exploration by the end of the year, as announced by the Minister of Mineral Resources, Petroleum, and Gas on Tuesday August 8th. While not disclosing the exact starting month for now, Diamantino Azevedo explained, in statements to the press at the conclusion of his assessment visit to the province of Lunda-Sul,
Crude oil closed higher on Tuesday August 8th after spending much of the trading session in the red. Prices were supported by an upward revision in the United States Department of Energy’s (DoE) projection for Brent crude oil prices. Production cuts by Saudi Arabia and Russia also seem to be having the intended effect of boosting prices by limiting supply, according to analysts. On the New York Mercantile Exchange (Nymex), September WTI crude oil closed
Australian-based uranium exploration company Elevate Uranium has confirmed the presence of large continuous mineralized zones at its Koppies uranium project in Namibia, and as a result, is advancing drilling activities with the addition of another rig. The company currently has two reverse circulation drill rigs conducting exploratory works at the Koppies project, and has recently added a third rig to the program following confirmation of mineral resources at the Koppies 3 area of the project.
The Ghanaian government has approved the country’s Green Minerals Policy in an effort to maximize value created from critical mineral resources. Aimed at stimulating the development of the local mineral value chain, the policy comprises regulatory guidelines and fiscal terms for critical mineral activities across the country. Specific clauses in the policy document include a national ban on the export of unprocessed minerals. Ghana’s Minister of Lands and Natural Resources Samuel Jinapor explained that the country “is
The Diamond Exchange of Angola will begin experimental operations later this year to revitalize the diamond subsector market and support the diversification of the national economy, as announced on Wednesday in Luanda by the Chairman of the Board of Directors of Endiama, Ganga Júnior. Despite the delay in completing the building that was supposed to house the Diamond Exchange, which was originally scheduled for December 2022, the manager, quoted by Angop, emphasized that the process
The National Agency for Oil, Gas and Biofuels (ANPG) has approved the work plan and budget for oil concessions, which includes several campaigns for preventive maintenance of equipment, with a focus on activities to be carried out on various oil platforms. Oil production comes from 16 concessions, 13 in the offshore maritime zone and three in the onshore land zone. The approved plan by ANPG outlines activities to be conducted on the platforms “GS –
