Vital Industry News
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 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
Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

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

More Angolan Mining News

Gold Economy International

Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves

Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank…
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…
Diamonds Corporate News International

Okavango Diamond Company Expands Contract Sales to Cushion Market Downturn

Botswana’s Okavango Diamond Company to Increase Contract Diamond Sales Amid Weak Global Market Botswana’s state-owned Okavango Diamond Company (ODC) plans to increase the proportion of diamonds it sells through long-term contracts as it adapts to challenging global market conditions, acting managing director Lipalese Makepe said on Wednesday. Contract sales provide greater pricing stability and predictability compared with auctions and tenders, which are typically more competitive and prone to price volatility. The shift comes as rough

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Renewable Energy Corporate News International

SOLA Group Reaches Financial Close on 300MW Naos-1 Hybrid Solar and Storage Project

SOLA Group Financial Close on Naos-1: 300MW Solar and 660MWh Battery Project to Wheel Private Power in South Africa SOLA Group has achieved Financial Close and begun construction of its Naos-1 Hybrid Solar and Battery Project, marking a significant milestone in South Africa’s evolving private electricity market. The development integrates a 300MW solar photovoltaic facility (435MWp) with 660MWh of battery energy storage. The project is underpinned by long-term power purchase agreements with Sasol and Air

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International Corporate News Diamonds

De Beers Posts $511 Million Loss in 2025 Amid Lower Diamond Prices and Stock Rebalancing

De Beers 2025 Financial Results: $511M Loss Driven by Falling Diamond Prices and Stock Rebalancing Diamond miner De Beers reported a challenging 2025 financial year, posting an underlying loss before interest, taxes, depreciation, and amortisation (EBITDA) of $511 million, compared with a loss of $25 million in 2024. The decline was driven by a lower average rough price index and stock rebalancing initiatives. Production and Sales Rough diamond production fell 12% to 21.7 million carats

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International Energy News

ERB Clears 29 Licences and Major Solar Project to Boost Zambia’s Energy Sector

Zambia’s Energy Regulation Board Approves ZMW 2.45 Billion in New Energy and Petroleum Investments The Energy Regulation Board (ERB) has approved 29 licence applications and five construction permits across the petroleum, electricity and renewable energy sub-sectors, representing a total committed investment of ZMW 2.45 billion (approximately US$130 million). The approvals were granted by the Board’s Licensing Committee at its meeting on 13 February 2026, signalling sustained investor confidence in Zambia’s energy market. The ERB stated

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International Diamonds Mining Projects

Botswana Accelerates Exploration Drive as It Seeks to Diversify Beyond Diamonds

Botswana Expands Mining Exploration Strategy to Reduce Diamond Dependence and Target Critical Minerals Botswana is preparing to significantly increase mining exploration activity including the search for critical minerals as it moves to reduce its long-standing dependence on diamonds. Mines Minister Bogolo Joy Kenewendo announced on Tuesday that the government plans to survey the approximately 70% of the country’s territory that remains geologically unexplored. The Southern African nation, widely regarded as one of Africa’s most stable

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International Exploration Gas Oil

Libya Awards New Oil and Gas Exploration Blocks in First Licensing Round Since 2007

Libya Grants Exploration Licenses to Chevron, Eni, QatarEnergy and Repsol in Major Oil and Gas Round Libya has awarded new oil and gas exploration blocks to several international energy companies, including Chevron, Eni, QatarEnergy and Repsol, marking the country’s first licensing round in nearly two decades. The bidding results were announced by Libya’s National Oil Corporation (NOC). The round the first since 2007 allocated exploration acreage in the onshore Sirte and Murzuq basins, as well

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International Gas News

NNPC Announces Temporary Gas Supply Reduction During Seplat Maintenance

NNPC Confirms Seplat Maintenance from Feb 12–15 May Temporarily Reduce Gas Supply to Nigerian Power Plants Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that Seplat Energy will conduct routine maintenance on its gas production facilities from February 12 to 15, 2026. According to a statement issued by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the scheduled work may temporarily reduce gas supply to some power generation companies connected to the NNPC Gas Infrastructure

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International Corporate News Exploration Gas Oil

CNOOC to Launch Offshore Exploration in Mozambique as LNG Projects Regain Momentum

CNOOC Begins Mozambique Drilling Next Month as Rovuma Basin LNG Projects Resume Development China National Offshore Oil Corporation (CNOOC) plans to begin hydrocarbon exploration offshore Mozambique next month, targeting blocks awarded during the country’s sixth licensing round in 2022. Mozambique’s Minister of Energy, Estêvão Pale, announced at Mining Indaba 2026 in Cape Town that preparations for drilling activities will commence in March. He indicated that the government remains in the early stages of exploration across

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Corporate News Local Oil

Eni Confirms 500 Million Barrel Oil Discovery at Algaita-01 in Angola’s Block 15/06

Eni Announces Major 500 Million Barrel Oil Discovery Offshore Angola at Algaita-01 Well Eni has confirmed a significant oil discovery at the Algaita-01 exploration well in Block 15/06, offshore Angola, approximately 18 kilometers from the Olombendo floating production, storage and offloading unit (FPSO). Preliminary estimates indicate that the discovery contains approximately 500 million barrels of oil in place, reinforcing the exploration potential of Angola’s deepwater Lower Congo Basin. Drilling Results and Reservoir Quality The Algaita-01

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International News Oil

Tanzania and Uganda Target July 2026 for First Oil Exports via EACOP

East African Crude Oil Pipeline Nears Completion as Uganda and Tanzania Plan First Oil Shipment in July 2026 Tanzania and Uganda are preparing to launch their first crude oil shipment through the East African Crude Oil Pipeline (EACOP) by July 2026, following high-level talks between Tanzanian President Samia Suluhu Hassan and Ugandan President Yoweri Museveni. Officials from both countries confirmed that technical coordination is underway to finalize export readiness, including operational procedures and supporting infrastructure

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