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
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
Rio Tinto Diamond Sales Up 9% in H1 2025 Amid Market Recovery and Production Surge Rio Tinto reported a 9% increase in diamond revenue for the first half of 2025, driven by a rebound in the rough diamond market and a sharp rise in production at its Diavik mine in Canada. Sales from Diavik totaled $162 million for the six months ending June 30, up from the same period last year, the company announced on
Anglo American Pushes De Beers Exit Through Trade Sale or IPO Amid Signs of Diamond Market Recovery Anglo American has reaffirmed its firm commitment to exiting its diamond business, De Beers, despite confidence in the brand’s long-term potential as global diamond markets begin to stabilise. The company is actively pursuing two exit strategies: its preferred option—a trade sale—and a parallel plan for an initial public offering (IPO). Both processes are being advanced simultaneously to ensure
Angola’s Economy Grows 4.4% in 2024: Strongest Expansion in a Decade Fueled by Oil and Diamonds Angola’s economy grew by 4.4% in 2024, marking its strongest annual expansion since 2014, according to the World Bank’s latest Angola Economic Update. This robust growth was primarily driven by a recovery in the oil sector, increased diamond production, and strong performance in the commerce and fishing industries. Despite this positive momentum, economic growth is projected to moderate between
Angola Launches Production at Begónia Offshore Oil Project The National Agency for Petroleum, Gas and Biofuels (ANPG), TotalEnergies (the operator), and partners of the Block 17/06 Contractor Group have announced the start of oil production at the Begónia Project. The extracted crude will be processed via the FPSO Pazflor, located in Block 17, offshore from Angola’s Zaire Province. The Block 17/06 partnership includes TotalEnergies (30% operator interest), Sonangol EP (30%), SSI (27.5%), ETU Energias (7.5%),
Botswana Diamonds Awarded Four New Prospecting Licences Following AI-Powered Exploration for Diamonds and Critical Minerals London-listed Botswana Diamonds has been awarded four new prospecting licences in Botswana following an extensive AI-driven exploration programme across the country. This innovative approach identified several highly prospective targets for diamonds as well as critical minerals including copper, silver, cobalt, gold, nickel, zinc, and platinum group metals (PGMs). The four licences—PL298, PL303, PL304, and PL305—focus primarily on diamond exploration and
Woodside Energy Assumes Control of Bass Strait Oil and Gas Operations, Unlocking $60M in Synergies Woodside Energy announced on Tuesday that it will assume operatorship of the Bass Strait oil and gas assets from ExxonMobil, a move expected to generate approximately $60 million in synergies. The Bass Strait portfolio includes the Gippsland Basin and Kipper Unit joint ventures. Both Woodside and ExxonMobil each hold a 50% stake in the Gippsland Basin and 32.5% in the
Angola Launches SPACIUM Incubator to Support 150 Young Entrepreneurs Under SonaJovem 5.0 Program In a strategic move to empower young innovators, Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, officially inaugurated the SPACIUM incubator this Monday at the ISPTEC Campus. This state-of-the-art facility is designed to support young entrepreneurs by helping them transform promising ideas into sustainable businesses. The launch ceremony was attended by key government figures, including the Secretary of State for
Etu Energias to Build $24,000-Ton Lubricants Plant in Luanda, Creating Jobs and Reducing Imports by 2026 Etu Energias has announced the construction of a new lubricants manufacturing facility in Luanda, Angola. With a planned annual production capacity of 24,000 metric tons, the plant is expected to be completed within the first quarter of 2026. The facility aims to meet growing domestic demand, reduce dependence on imports, and create new employment opportunities. The future factory will
UAE’s Masdar to Build Solar Power Plants in Angola, Investing $2 Billion to Electrify 250,000+ Homes by 2027 Masdar, a leading renewable energy company based in the United Arab Emirates (UAE), is set to begin construction of photovoltaic power plants in Angola’s Huila and Namibe provinces next year. The initiative is part of a $2 billion investment to generate two gigawatts of clean energy in the country, according to a government statement obtained by VerAngola.
TotalEnergies Delays Final Decision on Namibia’s Venus Oil Discovery Amid Government Talks TotalEnergies has confirmed it will not proceed with the development of its multi-billion-dollar Venus oil discovery in Namibia’s Orange Basin until a formal agreement is reached with the Namibian government. During the company’s second-quarter earnings call, TotalEnergies CEO Patrick Pouyanné emphasized the need for alignment and mutual understanding before committing to a final investment decision (FID). “You’re dealing with a country that is
