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Author: Makungu Coco

International Mining News

US Funds Study for DRC Copper and Cobalt Refinery

US Funds Pre-Feasibility Study for DRC’s 30,000-Tonne Copper and 5,000-Tonne Cobalt Refinery The US Trade and Development Agency (USTDA) has signed an agreement with Congolese mineral processor Buenassa Resources to fund a pre-feasibility study for a proposed copper and cobalt refinery in Lualaba Province. The study will assess potential sources of feedstock, establish the refinery’s technical design and determine the economic and financial requirements for its development. USTDA has not disclosed the value of the

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Local News Oil

Angola’s Lobito Refinery Faces Multibillion-Dollar Financing Challenge

Angola’s US$6.2 Billion Lobito Refinery Faces US$4.8 Billion Financing Challenge Angola’s US$6.2 billion Lobito Refinery is at the centre of the country’s push to expand domestic refining capacity and reduce dependence on imported petroleum products, but securing the remaining financing remains a major challenge. The 200,000-barrel-per-day refinery in Benguela Province is expected to become Angola’s largest refining facility. The project is designed to support domestic fuel supply while creating an industrial hub for petrochemicals and

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Local Corporate News Oil

Omani Oilfield Services Firm DSOG Targets Angola Expansion with Sonangol Pact

Oman’s DSOG Signs Sonangol Pact to Expand Oilfield Services into Angola Omani oilfield services company Desert Sand Oil & Gas (DSOG) has signed a memorandum of understanding (MoU) with Angola’s national oil company Sonangol to explore cooperation in oilfield services and technologies, opening a potential route into Angola’s upstream services market. The agreement was signed by Khalid bin Sultan Al Junaibi, Group CEO of DSOG’s parent company, Al Daham Holding Group, during Oman’s Sultan Haitham

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International Corporate News Oil

Dangote to Proceed with Kenya Refinery Groundbreaking Despite Court Order

Dangote to Proceed with US$16 Billion Kenya Refinery Groundbreaking Despite Land Court Order Dangote Group said a Kenyan court order over a land dispute would not stop the planned groundbreaking of its US$15–16 billion oil refinery in Lamu, although some activities at the site could be affected. The planned refinery, with a capacity of 700,000 barrels per day, is scheduled to begin construction following a groundbreaking ceremony on Wednesday, September 30, attended by Dangote Group

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Corporate News Gas International

ReconAfrica Identifies Liquid-Potential Gas at Namibia’s Kavango Well

ReconAfrica Finds Thermogenic Gas with Liquid Potential at Kavango West Well in Namibia Reconnaissance Energy Africa (ReconAfrica) has identified thermogenic natural gas with liquid potential at its Kavango West 1X Sidetrack (KW1X) discovery well in northeastern Namibia. Flow-test samples from the Huttenberg and Elandshoek formations indicated gas with maturity ranging from the late oil to early gas window. The results support the presence of a potentially liquids-rich petroleum system, although further testing is required to

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International Corporate News Gas

TotalEnergies Delays Venus FID Timeline as Azerbaijan Gas Project Gets Approval

TotalEnergies Gives No New FID Date for Namibia’s 750-Million-Barrel Venus Oil Project TotalEnergies has given no new timeline for the final investment decision (FID) on its Venus oil development offshore Namibia, despite continuing to identify the country as an important part of its long-term oil and gas portfolio. The French energy major had previously targeted an FID for Venus in 2026, but its latest strategy update did not provide a revised date. The company said

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International Gas News Oil

Namibia’s Oil and Gas Sector Attracts N$74.4 Billion in Foreign Investment

Namibia Oil and Gas Sector Attracts N$74.4 Billion FDI as Bank of Namibia Urges First-Oil Readiness Namibia’s oil and gas sector attracted about N$74.4 billion in foreign direct investment between 2021 and 2025, accounting for roughly 56% of the country’s total FDI inflows, according to the Bank of Namibia (BoN). The figures were presented by BoN Director of Research and Financial Sector Development Dr Emma Haiyambo at the central bank’s 27th Annual Symposium as part

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International Energy Expos & Events Sponsored

Africa’s Capital Base Steps Up to Finance the Next Energy Build-Out at AEW 2026

Africa’s energy investment gap is increasingly being addressed through a broader pool of African financial institutions, regional lenders and private investors.  With the continent’s energy finance gap estimated at between $31 billion and $50 billion, the ability to turn available capital into bankable projects is becoming a central issue for governments and developers. African Energy Week (AEW) 2026, taking place October 12–16 in Cape Town, will put that challenge at the heart of its Energy

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International Diamonds News

HB Antwerp Restructures Botswana Operations After Rough Diamond Supply Deal Fails

HB Antwerp Restructures Botswana Operations After ODC Diamond Supply Deal Fails Belgian diamond trader HB Antwerp is restructuring and scaling back its Botswana operations after failing to secure a planned supply of rough diamonds from state-owned Okavango Diamond Company (ODC). HB Antwerp Managing Partner Boaz Lev said the company was resizing its operations to reflect the availability of diamonds, after an agreement announced in 2023 failed to materialise. Under the proposed arrangement, announced by former

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Transport and Logistics Local News

USTDA Backs Power Study for Lobito Corridor in Zambia and DRC

USTDA Funds US$3 Million Power Study for Zambia-DRC Lobito Corridor The US Trade and Development Agency (USTDA) has signed an agreement with Anzana Electric Group to fund a feasibility study aimed at improving electricity supply across Zambia’s North-Western Province and the Democratic Republic of Congo’s (DRC) Lualaba Province. The study will assess opportunities to expand hydropower generation, rehabilitate existing power assets and upgrade electricity distribution networks serving copper and cobalt mining operations along the Lobito

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