One Alliance Insurance, the South African company that just sold Angola’s largest closely-held insurer by revenue, plans to start a re-insurance arm focused on the continent, Chief Executive Officer Robert Lewis said.
Mountain Province Diamonds Inc., a partner with De Beers in the Gahcho Kue project in northern Canada, plans to raise C$125 million ($119 million) in a rights offering backed by Irish billionaire Dermot Desmond.
Guinea will seek to preserve Vale SA’s interests in Simandou, one of the world’s largest untapped iron-ore deposits, even though its partner is being investigated on corruption allegations, President Alpha Conde said.
Groupe Saham, a Morocco-based investment company, bought GA Angola Seguros SA, Angola’s largest closely held insurance company by revenue, for an undisclosed amount, GA Chief Executive Officer Fernando Dolbeth Assuncao said.
Canadian gem explorer Peregrine Diamonds Ltd. dropped the most ever after it said De Beers, the world’s largest diamond producer, won’t exercise its right to acquire control of the Chidliak project in the Canadian Arctic.