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Author: Makungu Coco

Local Oil Petroleum

Sonangol and TotalEnergies Partner for Kwanza Basin Offshore Development

Angola’s national oil company, Sonangol, signed a framework agreement with French multinational petroleum corporation TotalEnergies earlier this year to explore developing the first offshore drilling project in the Kwanza basin, an abundant and expansive oil field some 150 kilometers southwest of the country’s capital Luanda. The provisional agreement inked in May between Sonangoal, TotalEnergies EP Angola and Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), will pave the way for the future development of the

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International Oil Petroleum

Uganda Achieves Self-Sufficiency in Oil Supply

A bill enabling Uganda National Oil Business (Unoc), a state-owned oil business, to buy and supply oil to Uganda’s domestic market has been passed by the country’s cabinet. The bill will terminate the present method of importing oil through Kenyan wholesalers if it is approved by parliament. The goal of this new initiative, according to Energy Minister Ruth Nankabirwa who spoke on the issue on Tuesday, is to “improve the security of supply of petroleum products

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Gold Local News

Angola’s First Gold Refinery Nears Completion with Portuguese-Trained Staff

Angola is on the verge of opening its maiden gold refinery, currently being built at the Viana Industrial Complex in Luanda. The facility is expected to begin operations in the second half of 2024, with 23 young Angolans currently undergoing training in Portugal, according to a ministerial source. The Ministry of Mineral Resources, Oil, and Gas, responsible for this initiative through the Angolan company GEDANGOL, reports that construction progress on the Gold Refinery has reached

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Exploration Gold Local News

Gold Exploration Project Launched in Cabinda Province with Substantial Investment

A gold exploration project was inaugurated in Cabinda province last week, representing a $15.2 million investment. This project anticipates an estimated annual production of 3,900 ounces from secondary deposits. The inauguration ceremony was officiated by Diamantino Azevedo, the Minister of Mineral Resources, Oil, and Gas, along with Cabinda’s Governor, Mara Quiosa. The project’s goal is to explore gold in Cabinda, with an expected annual production of 8,900 ounces from secondary deposits. The Ministry of Mineral

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Diamonds News

Top 10 Diamond producing countries in Africa

It is no secret that Africa is rich in valuable minerals crucial for economic development, ranging from extensive oil reserves to lush agricultural lands. The continent possesses about 30% of the world’s total mineral reserves, including gold, copper, platinum, cobalt, uranium, lithium, and more, all of which play pivotal roles in diverse industries, from electronics and infrastructure to energy production. What is fascinating is that these mineral riches are not concentrated in one specific region

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Diamonds International News

Petra sales fall as Diamond market continues to falter

PETRA Diamonds continued to suffer the effects of declining market prices reporting second tender sales of $40.9m – 49% lower than the first tender sales of its 2024 financial year. However, there are mitigating factors when comparing the two tenders. The previous, the first of the year, was effectively a catch-up as Petra had delayed sales from earlier tenders that occurred in the previous financial year. Carats sold totalled 444,029 carats in the second tender

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Diamonds International News

Zimbabwe’s biggest Diamond miner shifts sales to Dubai auctions

Zimbabwe’s biggest diamond producer has shifted almost all of its sales to Dubai, targeting cutters, polishers and traders and eliminating middlemen. Zimbabwe Consolidated Diamond Co. has auctioned 4 million carats of stones so far this year in the emirate, up from 850,000 carats for the whole of 2022. The state-owned miner is targeting revenue of $1 billion by 2030, according to Sales and Marketing Manager Enock Moyo. Three auctions held in Dubai have attracted an

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Diamonds Local News

Minister of Mineral Resources Calls for Unified Efforts to Safeguard Natural Diamond Resources

The natural diamonds producers should be more aligned in order to improve the management and protection of these resources, said the Minister of Mineral Resources, Oil and Gas. Diamantino Azevedo was speaking in Luanda at the opening of the meeting of the Ad-hoc Committee for the Review and Reform of the Kimberley Process Certification System, where he stressed the need for better organization, from an environmental and management point of view, in order to reduce

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Diamonds Local News

ENDIAMA Engages in Capital Markets and Pension Funds Workshop

ENDIAMA is continuing its commitment to training human capital in order to better respond to the challenges of the present and the future, said  recently in Luanda the executive director for Mining Operations, Administration and Human Resources of the country’s second largest company. Domingos Margarida was speaking during the 2nd edition of the workshop on Capital Markets, Insurance and Pension Funds, aimed at ENDIAMA- E.P. employees and collaborators, organized by the Capital Markets Commission, in

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Diamonds International News

Rio launches exlusive Diamond tender

Major Rio Tinto has launched a new exclusive sales event for some of the diamonds recovered from its Australian and Canadian mines. Known as The Beyond Rare tender, the inaugural collection showcases 48 lots of exceptional polished diamonds, including legacy inventory of pink and red diamonds from the Argyle diamond mine and yellow diamonds from Rio Tinto’s Diavik diamond mine. “The Beyond Rare tender is a new chapter for Rio Tinto’s diamonds business, and a

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