Sonangol and the Tosyali Group reached an agreement on Monday to enhance the strategic Kassinga iron and steel project. The agreement, finalized during the Angolan Minister of Mineral Resources, Oil, and Gas’s visit to Turkey, includes integrating Angola’s national oil company, Sonangol, into the new corporate structure of Tosyali Iron & Steel Angola SA. Fuat Tosyali, President of the Turkish holding company, praised the move as a clear demonstration of Angola’s commitment to the project.
Arrow Minerals, an exploration and development company, has discovered high-grade mineralization at its newly acquired Simandou North Iron Project in Guinea-Conakry. During the initial drilling phase in February, the company unearthed promising results from the first five holes, with surface samples showing grades as high as 63%. Additional testing of 392 samples is currently underway. With a commitment to establishing a direct shipping grade iron mining operation by June, Arrow Minerals plans to capitalize on
The oil operator ACREP launched, on Tuesday 6th February, in Luanda, the offer to sell 37.47 percent of its shares on the Debt and Securities Exchange of Angola (BODIVA). The shares will be available for acquisition from February 19 to March 1 of this year. The offer will be sold at a unit price ranging between 75,000 kwanza as the minimum value and 91,500 kwanza as the maximum value. It is the first time that
The prices of iron ore futures contracts on the Dalian Exchange in China closed in a mixed fashion. The price of the most traded contract, with delivery for January 2024, rose by 0.55% to 732.5 yuan (100.88 dollars) per ton, while the contract for September 2023, which had the second highest turnover, remained stable at 821 yuan (113.0 dollars) per ton. The ore traded on the Dalian Exchange contains 62% iron content and is considered
