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Diamonds International News

Botswana Faces Economic Strain as Global Diamond Slump Triggers Credit Rating Downgrade

22, March, 202622, March, 2026

Botswana’s Credit Rating Cut to BBB- as Falling Diamond Demand Pressures Economy and Foreign Reserves Recognized as Africa’s largest diamond producer, Botswana is facing mounting economic challenges as the prolonged downturn in the global diamond market continues to weigh on its financial stability. Reflecting these pressures, S&P Global Ratings has downgraded Botswana’s long-term sovereign credit rating from BBB to BBB-. The ratings agency indicated that the country’s mineral-dependent economy is likely to remain under strain

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Corporate News Diamonds International

De Beers Reduces Diamond Buyer List Amid Prolonged Industry Downturn

22, March, 202622, March, 2026

De Beers Cuts Sightholders to 50 as Diamond Industry Faces Weak Demand, Lab-Grown Competition and Market Volatility Global diamond producer De Beers Group has made one of the deepest reductions to its network of handpicked diamond buyers as the company navigates a prolonged downturn affecting the global diamond industry, according to people familiar with the matter. The company notified its customers known as sightholders on Friday whether they would retain their status through formal letters

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International News Oil

Algeria Advances Trans-Sahara Gas Pipeline with Technical Mission to Niger

21, March, 202621, March, 2026

Algeria Moves Forward on $13 Billion Trans-Sahara Gas Pipeline Linking Nigeria to Europe via Niger Algeria has dispatched a technical delegation from its state-owned energy company, Sonatrach, to Niger to advance preparations for the long-delayed Trans-Sahara Gas Pipeline, a major regional energy project intended to transport natural gas from West Africa to European markets. Africa’s third-largest oil producer is accelerating efforts to implement the project, which is designed to strengthen export capacity and diversify energy

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International Corporate News Oil

Shell Confirms Sale of South African Downstream Assets After 120 Years in Fuel Retail

19, March, 202619, March, 2026

Shell Moves Forward with Sale of South African Downstream Assets, Ending Century-Long Petrol Station Operations Energy giant Shell has confirmed it is still pursuing the sale of its downstream assets in South Africa, potentially ending more than a century of the company’s petrol station operations in the country. The divestment, first announced in May 2024, follows a global review of Shell’s portfolio and its strategy to reduce downstream exposure while focusing on upstream oil and

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International Energy News

Africa’s Power Sector Draws $13.8B in Investments, but Execution Gap Remains a Challenge

18, March, 202618, March, 2026

Africa’s Energy Deals Reach $13.8B in 2025, Highlighting Need for Bankable Clean Energy Projects Africa’s power sector is attracting increasing global investment, with energy deals estimated at $13.84 billion in 2025, driven largely by clean energy initiatives. However, a significant gap persists between announced projects and those successfully delivered, raising concerns about execution and bankability across the continent. According to Energy Capital & Power, around 74,000 megawatts (MW) of power capacity has been announced in

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Corporate News Diamonds International

Gem Diamonds Swings to Loss Amid Weak Diamond Market and Letšeng Impairment

18, March, 202618, March, 2026

Gem Diamonds Reports $104M Loss as Letšeng Diamond Mine Impairment and Weak Diamond Prices Hit Earnings London-listed Gem Diamonds reported a sharp decline in financial performance for the year ended December 31, 2025, as continued weakness in the global diamond market weighed on earnings. The company posted a loss of $9.1 million before exceptional items, compared with a profit of $8.1 million in 2024. After accounting for exceptional items, the attributable loss widened significantly to

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Corporate News Diamonds International

Lucara Unearths High-Quality Blue Diamond at Karowe Mine

18, March, 202618, March, 2026

Lucara Recovers Rare 36.92-Carat Blue Diamond from Karowe Mine in Botswana Lucara Diamond Corp has announced the recovery of a rare 36.92-carat blue diamond from its wholly owned Karowe Mine in Botswana. The stone has been classified as a high-quality Type IIb blue diamond among the rarest categories of diamonds globally. It was recovered using X-ray transmission (XRT) technology from ore sourced from the mine’s surface stockpiles. In addition to the blue diamond, Lucara Diamond

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International Gas News

Africa Positions Itself as Key LNG Supplier to Europe Amid Global Energy Shifts

17, March, 202617, March, 2026

Africa Expands LNG Exports to Europe as Demand Rises Amid Energy Supply Uncertainty Africa is increasingly emerging as a strategic supplier of liquefied natural gas (LNG) to Europe, as shifting global energy dynamics driven by instability in the Middle East and ongoing uncertainty surrounding Russian gas supplies reshape international markets. Energy ministers from Senegal, Equatorial Guinea, Nigeria, and the Republic of the Congo are expected to meet European stakeholders in Paris next month during the

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Corporate News International Oil Petroleum

Nigeria’s Petrol Imports Plunge as Dangote Refinery Dominates Local Supply

17, March, 202617, March, 2026

Nigeria Cuts Petrol Imports as Dangote Refinery Meets 92% of Fuel Demand Nigeria recorded a sharp decline in petrol imports in February as the Dangote Refinery significantly boosted domestic fuel supply, meeting approximately 92% of the country’s demand. According to an official factsheet on Nigeria’s midstream and downstream petroleum operations, total petrol supply dropped from 64.9 million litres per day in January to 39.6 million litres per day in February. The decline reflects reduced reliance

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Corporate News Gold International

Ghana’s Damang Gold Mine Transitions to Local Ownership Under Engineers and Planners

17, March, 202617, March, 2026

Ghana’s Damang Mine Set for Local Takeover as Engineers and Planners Prepares Operations Ghana’s mining sector is undergoing a landmark shift as Engineers and Planners Company Limited (E&P) prepares to assume operational control of the Damang Mine in the Western Region. The transition follows the exit of South African miner Gold Fields Limited, which has operated the mine for nearly three decades. The handover comes after the expiry of Gold Fields’ mining lease, with the

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