Electricity demand in the Middle East and North Africa (MENA) has risen dramatically over the past two decades and is set to grow even further as the region grapples with extreme heat, water scarcity, and rapid economic and population expansion. According to a new report by the International Energy Agency (IEA), consumption has already tripled since 2000, and current policy trajectories suggest demand will climb another 50% by 2035—an increase equivalent to the combined electricity needs of Germany and Spain today.

Cooling and desalination account for the single largest share of this growth, representing nearly 40% of the projected increase over the next decade. Rising urbanisation, industrialisation, transport electrification, and digital infrastructure—particularly the expansion of data centres—are also fueling demand. The IEA notes that MENA has recorded the third-fastest growth in electricity consumption globally since 2000, behind only China and India.

Today, natural gas and oil dominate the region’s electricity mix, supplying more than 90% of total generation. But this reliance is gradually shifting. Countries such as Saudi Arabia and Iraq are actively reducing the use of oil in power generation, reserving it for higher-value applications or exports. Based on current policy plans, natural gas will supply half of the additional demand by 2035, while oil-fired generation will shrink from 20% of output today to just 5%. Meanwhile, solar photovoltaic capacity is expected to expand tenfold, pushing renewables’ share of generation to about 25%. Nuclear power is also set to play a stronger role, with capacity projected to triple.

“The region has already seen extraordinary growth in electricity demand, and this will only accelerate as the need for air conditioning and desalination rises,” said Fatih Birol, Executive Director of the IEA. “Over the next decade, the region’s power capacity is on track to grow by more than 300 gigawatts—three times Saudi Arabia’s current installed capacity. This transition will significantly alter the power mix, with global implications for energy markets and emissions.”

Investment in the power sector is also gathering pace. Spending reached $44 billion in 2024 and is expected to rise by 50% by 2035, with nearly 40% of that earmarked for modernising and expanding grids. Strengthening transmission systems and regional interconnections will be essential to improving efficiency, reducing losses—which are currently double the global average—and ensuring electricity security.

Energy efficiency improvements, particularly in cooling, could ease pressure on the system. Air conditioners in the region operate at less than half the efficiency levels of those in Japan, the IEA report finds. Raising standards could curb peak demand growth by the equivalent of Iraq’s entire electricity capacity.

The report also warns of the risks of slower diversification. If MENA countries fail to deliver on their targets, oil and gas demand for power generation could rise by more than 25% by 2035. This would translate into $80 billion in lost export revenues and an additional $20 billion in import costs, underscoring the importance of timely investment and policy follow-through.

With surging demand, rising temperatures, and pressing sustainability goals, the MENA region faces a pivotal decade in reshaping its electricity systems. The path it takes will not only affect regional economies and energy security but will also carry global consequences for fuel markets and climate ambitions.

Australia’s Predictive Discovery (ASX: PDI) and Canada’s Robex Resources (CVE: RBX)(ASX: RXR) have announced an all-share merger valued at A$2.35 billion ($1.55 billion), creating a new mid-tier gold company in Guinea.

Under the agreement, Robex shareholders will receive 8.67 Predictive shares for each Robex share, giving them approximately 51% ownership of the combined entity. The merger brings together two of West Africa’s most advanced gold projects.

“By combining two of West Africa’s largest and most advanced gold development projects and leveraging the proven track record of both management teams in Africa, we are creating a company that positions Guinea to become one of Africa’s top five gold producers,” said Predictive CEO Andrew Pardey. Robex CEO Matthew Wilcox will lead the merged company, with Pardey serving as chair.

The merger will be submitted to a shareholder vote in December, requiring approval from at least two-thirds of Robex investors. Key shareholders, including Cohen Group and Eglinton Mining, have already expressed support.

Consolidation in Gold Mining

This deal reflects the broader consolidation trend in the gold sector, driven by record metal prices and growing M&A activity among mid-tier producers.

The merger combines Predictive’s Bankan project and Robex’s Kiniero project, located just 30 km apart. The combined operation is expected to produce over 400,000 ounces of gold annually by 2029, supported by 9.5 million ounces in resources and 4.5 million ounces in reserves.

Robex, which listed on the ASX in June, plans to start production at Kiniero in December. Revenues from this operation will support the development of Bankan, which targets a final investment decision by mid-2026. Robex also operates the Nampala gold mine in Mali, expected to produce 47,000 ounces this year.

Guinea’s Growing Gold Appeal

Traditionally known for bauxite and iron ore, Guinea is attracting renewed interest from gold explorers despite challenges from artisanal mining and regulatory crackdowns. In May, the government revoked over 50 mining licences and exploration permits, impacting companies such as Endeavour Mining, Resolute Mining, Arrow Minerals, Kebo Energy SA, and Emirates Global Aluminium.

For example, Canada’s Fortuna Mining (TSX: FVI) signed a joint venture with Australia’s Desoto Resources (ASX: DES) to explore the Siguiri basin in northeastern Guinea this month.

The merger positions the new company to become a significant player in Guinea’s gold sector, combining advanced projects, experienced management, and strong production potential.

Dubai is strengthening its role as a global hub for resource investment, with Jemora Group striking a $10 million rescue deal to revive struggling diamond miner Lucapa Diamond Company (ASX: LOM).

Administrators KordaMentha confirmed that Jemora’s subsidiary, Gaston International, has signed a deed of company arrangement to inject around A$15 million (US$10 million) into Lucapa, which operates Angola’s Lulo alluvial mine and the Merlin project in Australia.

A Strategic UAE Play

Jemora, a diversified metals and mining conglomerate, is positioning Dubai as a center for global resource financing. Through Gaston, its energy and precious metals arm, Jemora aims to consolidate the UAE’s growing influence in mining, particularly in Africa and Australia.

If approved by creditors and the court, the deal would:

• Fully repay Lucapa’s creditors.
• Provide shareholders with a partial payout above recent market value.
• Transfer company control to Jemora, giving the group direct access to Lucapa’s assets in Angola and Australia.

Lucapa’s Struggles, Jemora’s Opportunity

Lucapa entered administration in May after being hit by falling diamond prices, competition from synthetics, and operational setbacks at its Lulo mine — including flooding and local community disputes.

The company also sold its Mothae mine in Lesotho in 2023, leaving Lulo as its only revenue source, while attempts to raise equity and sell a stake in Merlin failed earlier this year. Administrators ruled Lucapa insolvent by May 21.

Jemora’s intervention comes at a critical moment. With diamond prices under pressure, Dubai’s move to back Lucapa not only stabilizes the miner but also reinforces the UAE’s strategy of becoming a leading global hub for commodities and mining investment.

What’s Next

Creditors will vote on the proposal on August 20, 2025, which, if approved, will restructure Lucapa’s balance sheet and bring the company under Jemora’s control.

For Dubai, the deal is more than a bailout — it is another step in building its reputation as the go-to capital for resource finance and investment.

Oil prices tumbled on Tuesday to their lowest level in more than a week as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area.

Brent crude futures fell $2.69 or 3.76% to $68.79 a barrel as of 0006 GMT, after falling more than 4% earlier in the session and touching its lowest level since June 11.

U.S. West Texas Intermediate crude slumped $2.7, or 3.94%, to $65.46 per barrel, having hit its weakest level since June 9 earlier in the session and falling around 6%.

Trump announced on Monday that Israel and Iran have fully agreed to a ceasefire, adding that Iran will begin the ceasefire immediately, followed by Israel after 12 hours. If both sides maintain peace, the war will officially end after 24 hours, concluding a 12-day conflict.

He said that a “complete and total” ceasefire will go into force with a view to ending the conflict between the two nations.

“With the ceasefire news we are now seeing a continuation of the risk premium built into crude oil price last week all but evaporate,” said Tony Sycamore, analyst at IG.

Iran is OPEC’s third-largest crude producer, and the easing of tensions would allow it to export more oil and prevent supply disruptions, a major factor in oil prices jumping in recent days.

Both the oil contracts settled over 7% lower in the previous session after rallying to five-month-highs after the U.S. attacked Iran’s nuclear facilities over the weekend, stoking fears of a broadening in the Israel-Iran conflict.29dk2902lhttps://boereport.com/29dk2902l.html

“Technically, the overnight sell-off reinforces a layer of resistance between approximately $78.40 (October 2024 and June 2025 highs) and $80.77 (the year-to-date high), and it’s clear that it will take something extremely unexpected and detrimental to supply for crude oil to break through this layer of resistance,” Sycamore added.

FLS has completed a significant upgrade to its polyurethane manufacturing facility in Delmas, Mpumalanga, positioning the site as a key global hub for the production of its advanced NexGen wear -resistant material. This development forms part of a wider modernisation programme by FLS, aimed at strengthening supply chains, increasing manufacturing efficiency and enhancing sustainability across its global footprint.

Brad Shepherd, Director Service Line – Screen and Feeder Consumables at FLS, says the investment at Delmas aligns with the company’s global strategy to standardise and optimise production processes.

“This is a milestone for us,” says Shepherd. “We are integrating cutting edge technology and modern manufacturing methodologies across all our polyurethane plants, and Delmas is leading the way. The upgrade enables us to respond more quickly and reliably to customer needs across Africa, the Middle East and Europe.”

The centrepiece of the upgrade is the introduction of purpose-built infrastructure to produce NexGen screen media – a polyurethane material developed by FLS to deliver extended wear life, reduced maintenance and improved operational efficiency. In on-site trials, screen panels made from NexGen have demonstrated up to three times the wear life of conventional rubber and polyurethane products, making it a gamechanger for industries that rely on high performance screening solutions.

In the demanding conditions of Southern African mining, dewatering is not just a support function – it is mission critical. IPR (Integrated Pump Rental) has built its reputation on recognising this reality, setting itself apart from conventional pump rental providers by forming close partnerships with its customers and offering technically sound application-specific solutions backed by responsive service and support. The company is part of Atlas Copco’s Specialty Rental Division.

According to Steve du Toit, Sales Manager at IPR, the company’s focus has always been on collaboration. “We don’t just rent out pumps. We engage with our customers at every step to understand the actual challenge they are facing. We visit the site, analyse the water conditions, solids content and infrastructure limitations, and then develop a tailored solution. It is a process that is as much about engineering expertise as it is about service.”

He emphasises that the first and most critical step in solving any dewatering problem is conducting a detailed on-site assessment. “Without that, it’s guesswork. The wrong pump – whether under- or over-specified – can cause inefficiencies, higher operating costs or outright failure. We often encounter sites where legacy equipment is simply no longer suited to the job, but no one has reassessed the requirements in years. We recently helped a mine overcome exactly that challenge. They were using an outdated and oversized pump setup. Our assessment allowed us to replace it with a new correctly sized unit, which delivered the same performance with far less energy consumption and downtime.”

IPR also plays a key advisory role in helping mining customers decide whether to rent or purchase dewatering equipment. “We look at where the mine is in its lifecycle and the nature of the dewatering requirement,” says du Toit. “If it is a permanent and consistent need, purchase might make more sense. But if the operation is still developing or if the requirement is short-term or fluctuates seasonally, then renting a dewatering pump offers a more flexible and cost effective solution.”