Pensana’s Longonjo Mine 22% Complete as Angola Rare Earth Project Targets 2027 Startup and Global Supply Chain Role London-listed Pensana is making steady progress on its $250 million Longonjo rare earth project in Angola, which remains on schedule and within budget for first mixed rare earth carbonate (MREC) production in 2027. The project is expected to operate over a 20-year mine life, initially producing 20,000 tonnes per year of MREC, with planned expansion to 40,000
Angola Launches $750M Eurobond Buyback and Issues New Bonds to Extend Debt Maturities to 2031–2037 Angola has announced the results of its tender offer for its 2028 and 2029 Eurobonds, confirming plans to repurchase part of its outstanding debt while issuing new longer-dated bonds to ease near-term fiscal pressures. Under the transaction, the government will pay bondholders approximately $750 million to buy back portions of its external debt. The Southern African oil producer had invited
TGS Wins Offshore Angola 4D Seismic Contract, Extending Ramform Vessel Operations to 2027 TGS has secured a significant 4D seismic acquisition contract offshore Angola, reinforcing its presence in Africa’s offshore energy sector and ensuring continued utilisation of one of its Ramform vessels through early 2027. The project is scheduled to commence in July 2026 and will run for approximately eight months. TGS will deploy its Ramform vessel equipped with GeoStreamer technology to acquire high-resolution marine
Sonangol Builds New Suezmax Tanker to Boost Angola’s Crude Oil Exports and Regional Energy Trade Angola’s national oil company, Sonangol, has begun construction of a new Suezmax crude oil tanker capable of transporting up to one million barrels of oil, marking a significant step in the country’s strategy to strengthen its control over crude transportation and expand its reach in regional and global energy markets. The vessel, currently being built by South Korea’s Hyundai Samho
Afentra Secures 35% Operating Stake in Angola’s KON4 Block Under New Risk Service Contract Afentra has been awarded a 35% operated interest in Angola’s KON4 onshore oil block following government approval of a Risk Service Contract issued through a Presidential Decree. The license was awarded to a consortium comprising Afentra, Grupo Simples Oil, Sonangol E&P, Brite’s Oil and Gas, and Sodedurs, strengthening the company’s footprint in Angola’s mature onshore oil sector. The KON4 block is
14,000-Ton Manganese Delivery Highlights Growth of Lobito Atlantic Railway Operations Lobito Atlantic Railway (LAR) has successfully received and handled a shipment of approximately 14,000 tons of manganese at the Port of Lobito Mining Terminal, marking a significant step in strengthening its regional logistics and mineral transportation capabilities. The operation required close coordination between multiple operational teams and logistics partners to ensure safe, efficient, and well-controlled unloading and handling processes. According to the company, strict safety
Angola to Launch First Gold Refinery by End of 2025 as Government Expands Mineral Value Addition Strategy Angola is expected to inaugurate its first gold refinery before the end of the year, marking a significant milestone in the country’s efforts to increase local mineral processing and create greater value from its natural resources. The announcement was made by Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo during the opening of the Angola Oil, Gas
Renewable Energy Powers 70% of Angola’s Electricity Consumption, Government Says Renewable energy sources currently account for approximately 70 percent of Angola’s electricity consumption, with hydropower contributing more than 60 percent of the country’s energy mix, Minister of State for Economic Coordination José de Lima Massano announced on Thursday in Luanda. Massano made the remarks during the opening session of the 2nd International Conference on Energy and Water, which runs until Friday in the Angolan capital.
Angola and DRC Plan 1,450km Power Transmission Network to Deliver Over 2,000MW of Electricity Angola and the Democratic Republic of Congo (DRC) are set to deepen their energy cooperation through the development of two major electricity transmission lines spanning more than 1,400 kilometers, according to DRC Minister of Water Resources and Electricity, Teddy Molendo Sakombi. Speaking in Luanda on Thursday after meeting Angolan President João Lourenço, Sakombi revealed plans for two cross-border power transmission projects.
BP Plans $5 Billion Investment to Boost Oil Production in Angola Through Peace Project British energy giant BP is planning to invest approximately US$5 billion in Angola’s oil sector through the development of the “Peace Project,” a major initiative expected to increase the country’s oil production capacity. The planned investment was one of the key topics discussed during a meeting between Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and BP executives at
