Vital Industry News
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
International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

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

More Angolan Mining News

International News Oil

Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa

Oil Price Surge After US Strikes on Iran Threatens Higher Fuel Costs and Inflation Across…
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…
Corporate News Diamonds International

Petra Diamonds Reports Lower Sales Amid Market Volatility

London-listed Petra Diamonds has sold 613,682 carats of diamonds for $53 million during its combined Tender 5 and 6 sales cycle, bringing total revenue for the financial year to $239 million from 2.39 million carats sold. Due to ongoing fluctuations in diamond prices and demand, Petra has moved away from fixed tender schedules. The company now reserves the option to delay parts of tenders or sell diamonds as run-of-mine. “Reporting tender results on a tender-by-tender

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Corporate News Diamonds Local

Oman Replaces Sanctioned Alrosa in Angola’s Catoca Diamond Mine

A subsidiary of Oman’s sovereign wealth fund has replaced Russia’s Alrosa as a shareholder in Catoca, Angola’s state-controlled diamond mining company, marking a significant shift in the company’s ownership structure. The update was reflected on Catoca’s official website. Endiama EP, Angola’s national diamond company, now holds 59% of Catoca, while Taadeen, the new shareholder linked to Oman’s sovereign fund, holds the remaining 41% stake—previously owned by Alrosa. The move comes after mounting international pressure on

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Local Economy Transport and Logistics

AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor

Africa Finance Corporation (AFC), a Lagos-based continental financier, will soon sign a $320 million financing agreement with Italy, part of which will support the development of a new transport corridor linking critical mineral fields in central Africa to Angola’s Lobito port, according to AFC CEO Samaila Zubairu. AFC, owned by African central banks and development lenders, is the financing partner for the U.S.-backed Lobito Corridor project. The corridor aims to connect the Atlantic port of

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Diamonds International News

Botswana Cuts Diamond Production by 16% as Global Demand Slows

Botswana has announced a 16% reduction in diamond production for 2025, a strategic move in response to ongoing turbulence in the global diamond market. As Africa’s leading diamond producer and a country heavily reliant on diamond revenues, the decision reflects growing economic pressures and the need for long-term adaptation. The global market for natural diamonds has weakened, driven by slowing demand and the rapid rise of affordable lab-grown alternatives. For Botswana—where diamonds account for approximately

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Local Energy News

Angola and Nigeria at the Forefront of Africa’s Energy Independence Drive

Angola and Nigeria are taking center stage in Africa’s quest for energy security, with the Africa Finance Corporation (AFC) projecting that the continent could meet up to 90% of its fuel demand through domestic refining—up from just 45% in 2024. This bold projection is outlined in the AFC’s newly released State of Africa’s Infrastructure Report 2025, which highlights Angola’s rising role as a strategic refining hub alongside Nigeria. Angola is increasingly recognized as a major

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Corporate News International Oil Petroleum

Dangote Refinery Ramps Up with U.S. Crude Amid Nigeria’s Oil Supply Challenges

Africa’s largest crude oil refinery, the $20 billion Dangote Refinery, has increasingly turned to U.S. oil imports to meet its feedstock requirements—despite Nigeria’s position as the continent’s top crude producer. The refinery, with a processing capacity of 650,000 barrels per day (bpd), began sourcing significant volumes of U.S. West Texas Intermediate (WTI) Midland crude in 2025, according to Bloomberg ship-tracking data. During its early 2024 startup phase, American crude made up a smaller share of

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International Gold Oil

Bank of Ghana Ends Gold for Oil Programme After GH¢2.1 Billion Loss

The Bank of Ghana (BoG) has announced the termination of its Gold for Oil (G4O) initiative after incurring cumulative losses of GH¢2.137 billion since the programme’s launch in January 2023. The central bank recorded a GH¢317 million loss in 2023 and a staggering GH¢1.82 billion in 2024. According to the BoG, it committed approximately GH¢4.69 billion to the initiative, effectively losing 45% of its investment. The programme was officially discontinued on March 13, 2025, with

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International Corporate News Oil

Petrobras Targets Africa as Key International Growth Frontier

Petrobras, Brazil’s state-controlled oil giant, has set its sights on Africa as its main growth market outside of Brazil, according to CEO Magda Chambriard. In an interview with Reuters, Chambriard disclosed that Ivory Coast has granted Petrobras preferential rights to acquire nine offshore exploration blocks in deep and ultra-deep waters. Additionally, Nigeria, Angola, and Namibia have all expressed interest in partnering with the Brazilian company. “We are experts in the eastern margin of Brazil,” Chambriard

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Corporate News Diamonds International

SACIM Dominates DRC’s Industrial Diamond Output in Q1 2025 with 97% Share

Anhui Congo Mining Investment Company (SACIM) has emerged as the dominant producer of industrial diamonds in the Democratic Republic of Congo during the first quarter of 2025, accounting for 97% of the country’s total output. According to statistics released by the Technical Unit for Coordination and Mining Programming (CTCPM), a department under the Ministry of Mines, SACIM produced 334,505.81 carats out of a national total of 344,049.44 carats between January and March 2025. The remaining

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Local Energy News Oil

Angola Balances Oil Expansion with Clean Energy Goals Strengthens Ties with Portugal and Brazil

Angola’s Secretary of State for Energy, Arlindo Bota Manuel Carlos, has reaffirmed the country’s commitment to expanding oil exploration while also accelerating the transition to cleaner energy sources. Speaking to Lusa on the sidelines of the 2nd CPLP Energy Conference in Estoril, Portugal, Carlos said Angola values the support of Portugal and Brazil in the development of energy projects. “Oil exploration should not be seen as a threat. We will not abandon the use of

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