The National Diamond Trading Company of Angola (SODIAM) raised, this Friday 19th April, 17 million dollars with the sale of 636.28 carats (auction of 20 special stones). According to a press release, these are rough diamond productions from the Mining Companies of LULO SOMILUANA, CHITOTOLO, UARI and KAIXEPA. The evaluation sessions took place from the 11th to the 18th of this month, at SODIAM’s facilities in Luanda, with bids being submitted electronically on the online
Mining minerals presents Nigeria with an opportunity to diversify its economy away from its heavy reliance on oil exports. Africa’s most populous country (228mn people) has an abundance of mineral resources. It boasts more than 40 mineral deposits — including kaolinitic clay, gold, gypsum, iron ore, lead, zinc, phosphate and tin across more than 500 sites in its 36 states. Baryte, bitumen, coal, gold, iron ore, limestone, lead, zinc and coal have been identified by
In a significant announcement, José Manuel Augusto Ganga Júnior, President of the Board of Directors of the National Diamond Company (ENDIAMA), unveiled plans for a groundbreaking feasibility study aimed at tapping into Angola’s untapped oceanic resources, including diamonds and other valuable minerals. The revelation came during a high-profile event in Luanda, underscoring Angola’s commitment to diversifying its mining sector and harnessing its rich natural resources. Addressing reporters at the “Albina Assis” auditorium of the Ministry
The Secretary of State for Mineral Resources, Jânio Correia Victor, expressed optimism about Angola’s gold production and refining capabilities during a recent address in Luanda. He highlighted significant strides made in gold production in provinces like Cabinda, Huíla, and Huambo, and emphasized the imminent completion of the Luanda Gold Refinery. Victor asserted that these developments lay the groundwork for the mineral sector to contribute substantially to the country’s revenue in the coming months. Speaking at
Zimbabwe, plunged into a serious economic crisis over the last 20 years, announced last week the adoption of a new currency called “ZiG” Zimbawe Gold (Zimbabwe Gold) and the replacement of the current Zimbabwe Dollar, to try to combat hyperinflation and stabilize the economy from the country. With inflation officially hovering around 55% after this rate reached triple digits last year, the governor of the Central Bank of Zimbabwe, John Mushayavanhu, announced last Friday the
Angola’s Gross Domestic Product (GDP) expanded by 1.4% year-on-year in the fourth quarter of 2023 compared to the same period in 2022, according to data from the National Statistics Institute (INE). However, there was a 0.3% decrease in the economy from the third quarter to the fourth quarter of 2023, after seasonal adjustments. For the entire year of 2023, the Angolan economy grew by 0.9% compared to 2022. Key contributors to this growth were the
Angola’s robust history in oil production, dating back to its first commercial discovery in 1955, has played a pivotal role in its economic development, with the sector contributing 75% of the government’s revenue. As one of the continent’s leading producers, Angola is poised to maintain production at 1.1 million barrels per day (bpd) beyond 2027. Building on this foundation, Angola is actively attracting new investments to sustain oil production and expedite the development of new
Dubai Investments Park (DIP) Angola, an expansive integrated residential, commercial, and industrial project situated in Barra do Dande, has selected China Harbor Engineering Company (CHEC) to spearhead its infrastructure construction, as revealed in a contract announcement on Monday, reported by Jornal de Angola. The Emirati-owned DIP Angola disclosed that the contract with CHEC pertains to Phase 1A Infrastructure Development, a crucial component of the integrated center, which stands as a unique venture in Angola. Under
A Visa Application Center has been opened, on Tuesday, 2, in the Nigerian city of Port Harcourt to eliminate trips to Abuja and Lagos, as part of activities commemorating the 4th of April, Day of Peace and National Reconciliation in Angola . The Center, a partnership between the Embassy of Angola in Nigeria and the company Akwa Helmes International Limited – AHIL, has capabilities for applying visas, boosting investment attraction, supporting the oil and gas
Botswana officials have voiced apprehension over the Group of Seven’s (G7) planned restrictions on Russian diamonds, warning of potential negative impacts on the country’s diamond trade and economic progress. Lefoko Moagi, Botswana’s minister of mineral resources, green technology, and energy security, emphasized that the proposed requirement to channel all diamonds through Antwerp for verification poses logistical challenges and could hinder Botswana’s beneficiation efforts. The government is advocating for verification processes to occur in producer countries
