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Diamonds International News

Botswana Cuts Diamond Production by 16% as Global Demand Slows

9, June, 20259, June, 2025

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

9, June, 20259, June, 2025

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

9, June, 20259, June, 2025

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

9, June, 20259, June, 2025

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

9, June, 20259, June, 2025

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

8, June, 20258, June, 2025

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

4, June, 20254, June, 2025

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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Corporate News Diamonds International

Debswana Layoffs Spark Outcry as Botswana President Bypasses Union

3, June, 20253, June, 2025

Botswana President Duma Boko has announced the planned termination of over 1,000 workers at Debswana, the country’s joint venture with diamond giant De Beers, citing the ongoing global downturn in the diamond market. Speaking recently to civil servants, Boko attributed the decision to declining demand and sustained economic pressure across the diamond industry. However, the Botswana Mine Workers Union (BMWU) strongly condemned the announcement, criticizing the government for bypassing proper consultation processes. In a formal

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Corporate News Diamonds Local

Lucapa Diamond Enters Voluntary Administration Amid Financial Struggles and Sale Plans

3, June, 20253, June, 2025

Lucapa Diamond Company has entered voluntary administration as it seeks to restructure its capital and explore a potential sale of the business. The company announced on Friday that administrators from advisory firm KordaMentha will conduct an urgent assessment of Lucapa’s operations and assets, which include Brooking Diamonds, Heartland Diamonds, and Australian Natural Diamonds. Lucapa’s portfolio spans both Africa and Australia, with key assets such as the Lulo mine in Angola, the Merlin project in Australia—previously

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International News Oil

Uganda Pushes First Oil to 2026 Amid Ongoing Delays and Growing Public Frustration

3, June, 20253, June, 2025

Uganda has once again delayed the start of oil production from the Albertine Graben, now setting a new target for June 2026. This marks yet another postponement in the country’s two-decade-long pursuit to become a commercial oil producer, after previously aiming for first oil by June 2025. The updated timeline was announced by Frank Mugisha, Assistant Commissioner at the Ministry of Energy and Mineral Development, who spoke on behalf of Minister Ruth Nankabirwa during the

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