Lucapa Diamond soars on 48% rise in resources at Angola mine

While Debswana sales have been affected by weak global consumer demand, the company has not cut back production.

Platinum prices are down about 15% so far in 2023.

The discovery of the white Type IIa rough diamond is a much-needed positive news for the miner, which reported last month a $1 million loss.

Last week, Zijin Mining said joint venture Manono Lithium SAS was granted rights over the northeast tenement of the Manono mine.

"There is a willingness to invest, especially in critical minerals," German Chancellor Olaf Scholz told reporters.

The West African nation increased the minimum royalty rate for spot price above $1,500 an ounce to 6% from 5%.

The $250 million project is a response to the Nigerian government’s efforts to diversify the economy away from oil.

According to S&P Global, the highest capital budget spend in financial year 2023 is expected to come from BHP.

The attempted sale of Chemaf Resources Ltd. comes after the company’s ambitious expansion drive ran into financial trouble.