De Beers Jewellers Rebrands as De Beers London to Elevate Luxury Presence

De Beers Jewellers has rebranded as De Beers London, reinforcing its identity in the high-end luxury market and highlighting its connection to the British capital, a global hub for fashion and luxury. Announcing the change in a LinkedIn post last week, the company emphasized that the rebrand also strengthens its position as the only luxury jewelry house with direct access to natural diamonds from the source. This move, De Beers stated, is a key step

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De Beers Unveils DiamondProof for Instant Diamond Verification

De Beers Group has introduced its DiamondProof device at select retail stores, offering rapid and reliable verification of natural diamonds. The device distinguishes natural diamonds from lab-grown alternatives and simulants by detecting unique chemical signatures, the company announced Monday. Already in use by major jewelry retailers, DiamondProof debuted in the U.S. following its unveiling at the JCK show in Las Vegas last June. Designed for use at retail counters and back offices, the device delivers

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Nigeria and Russia in Talks for Nuclear Energy Partnership

Russia, which has secured energy agreements with more than a dozen African nations, is now in discussions with Nigeria on a potential nuclear partnership. Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, disclosed this during an interview with Sputnik on the sidelines of the 38th African Union Summit in Addis Ababa. Tuggar revealed that Africa’s largest oil producer is exploring a nuclear energy partnership with Russia, alongside discussions on other key sectors. “There are many opportunities

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South Africa Explores Nuclear Expansion Amid Global Tensions

South Africa is seeking new allies for its nuclear power expansion, with Russia and Iran emerging as potential partners. This move, hinted at by a senior government minister, could strain relations with the United States and complicate efforts to renew a key energy agreement. Currently home to Africa’s only nuclear power plant, Koeberg, South Africa aims to add 2,500 megawatts of nuclear capacity to address persistent power shortages and advance its transition to cleaner energy.

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Dangote Refinery’s Price Cuts and Expansion Set to Reshape Nigeria’s Fuel Market

Late last year, the Dangote Refinery disrupted Nigeria’s oil market by reducing petrol prices, triggering fluctuations as fuel marketers adjusted to the shift brought by the world’s largest single-train refinery. During the festive season, the refinery lowered the ex-depot price of Premium Motor Spirit (PMS) to N899.50 per liter, down from N970 in November. More recently, two weeks ago, Dangote Refinery announced another reduction, lowering its retail price from N950 to N890 per liter, easing

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Dangote Pushes for Sugar Self-Sufficiency Amid Battle Against Oil Imports

Africa’s richest man, Aliko Dangote, continues his push for Nigeria’s economic self-sufficiency, expanding his efforts from oil to sugar. Dangote recently announced plans to end sugar importation, committing $700 million to boost domestic production. Speaking at the 14th Gateway International Trade Fair in Abeokuta, Ogun State, during “Dangote Special Day,” Dangote’s representative, Tunde Mabogunje, Regional Director of Lagos/Ogun Dangote Cement, emphasized the company’s commitment to the Sugar Backward Integration Plan. “We are actively executing the

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Namibia Braces for Economic Impact Amid U.S.-South Africa Tensions

Namibia’s central bank governor, Johannes !Gawaxab, has warned that rising tensions between the United States and South Africa could destabilize Namibia’s economy. Given Namibia’s strong economic ties with both nations and its currency peg to the South African rand, any volatility in the rand could have direct repercussions, Bloomberg reported. On February 7, former U.S. President Donald Trump issued an executive order freezing all U.S. aid to South Africa, citing alleged human rights violations linked

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Africa Energy Bank Set to Launch in Early 2025

The long-awaited Africa Energy Bank (AEB) is set to launch in the first quarter of 2025, according to Nigeria’s Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri. The bank aims to finance oil and gas projects while supporting Africa’s energy transition, with a long-term goal of reaching a $120 billion asset base. Originally scheduled to begin operations in January 2025, AEB is a joint initiative between Afreximbank and the African Petroleum Producers Organization (APPO).

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Lucara Sells 549 ct Sethunya and 1 080 ct Eva Star Diamonds for $54 Million

Lucara Diamond Corp has sold the 549-carat Sethunya and the 1,080-carat Eva Star diamonds—both recovered from its Karowe mine in Botswana—for a total of $54 million. The Sethunya, discovered in 2021, and the Eva Star, recovered in 2023, highlight the consistent production of large, high-quality diamonds from the South Lobe of the Karowe kimberlite. Lucara affirms that these exceptional stones reinforce Karowe’s reputation as one of the world’s premier sources of high-value diamonds. “The sale

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Hilong Offshore Engineering Wins $54.76 Million Congo LNG Contract

Chinese engineering firm Hilong Offshore Engineering has secured a $54.76 million contract with energy giant Eni for the second phase of the Republic of Congo’s first LNG project, Congo LNG. The contract covers transportation and installation of two wellhead platforms at the Marine XII block, near the operational Nene and Litchendjili fields. Work is scheduled to begin in June 2025, with operations set to start in November 2025. The two wellhead platforms will extract gas

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