Lucapa Diamond’s 40%-owned Lulo alluvial diamond mine, in Angola generated $10.7 million from four stones auctioned at the just-ended online rough diamond tender conducted by SODIAM. The revenue realised from the Lulo stones accounted for almost half of the $21.7 million generated from the tender. SODIAM tendered 36 single stones in total. The Angolan national diamond trading company supplied no additional information about the sizes of the four Lulo diamonds other than that they were
A delegation from the Ministry of Mines and Energy of Namibia has visited the offices of ENDIAMA-E.P, with the aim of exchanging experiences to make the diamond subsector increasingly dynamic and attractive. The meeting was guided by the President of the National Diamond Company of Angola, Ganga Júnior, who also discussed with the Namibian delegation issues related to the exploitation of diamonds in the sea, an activity already developed by Namibia. Miina Gahutu, Director of
Angola’s Institute for Management of State Assets and Stakes (IGAPE) has indicated that the Government plans to complete the privatization of the country’s National Oil Company (NOC) Sonangol by 2026. The privatization process will be carried out in several stages and will result in the Government’s divestment of its 30% stake in the NOC. The announcement was made by IGAPE Chairperson Patrício Vilar on 21 June. The sale of government shares in Sonangol initially began
The Democratic Republic of the Congo’s Hydrocarbons Minister Didier Budimbu and his Angolan counterpart Diamantino Pedro Azevedo have agreed to sign the Memorandum of Understanding (MoU) for the development of Block 14 on July 13 in Kinshasa. The signing of the MoU will formalize the Block’s ownership, with the DRC and Angola set to take a 30% share while global energy major – and operator of the block – Chevron will own a 40% stake, and follows
The government will initiate the production of neodymium and praseodymium, minerals used in the manufacturing of batteries for electric cars, over the next five years, according to a statement by the Ministry of Mineral Resources, Petroleum, and Gas (Mirempet) and AME Trade. They announced the 2nd Angolan Mining Conference & Exhibition (AMC) 2023, which will take place in November. Country is positioned to benefit from critical minerals, Archive Copper and niobium are joining the list
Independent oil and gas company Afentra has announced that its final acquisition of Angola’s National Oil Company (NOC) Sonangol’s stake in the country’s offshore Block 3/05 will be pushed from June to July 2023. Sonangol has obtained approval for the license extension in May and is now seeking the necessary government approvals for the transaction. In April 2022, Afentra signed Sales and Purchase Agreements (PSAs) with Sonangol to acquire non-operated interests in the producing Blocks
Angola’s Head of State, H.E. President João Lourenço, has announced that the inauguration of Luanda’s new Dr. António Agostinho International Airport – named for the country’s first president – will take place by December 2023. Speaking during a site visit this week, H.E. President Lourenço acknowledged significant advancements made towards the infrastructure, emphasizing the impact that a new international airport will have on Angola’s aviation sector and overall socioeconomic development. “I can confirm that there
The Angola Liquefied Natural Gas (LNG) project, one of the largest energy projects in Africa, shipped its 400th cargo of LNG this month. Coinciding with the 10th anniversary of the 5.2 million ton per annum project’s first cargo delivery in 2013, this significant milestone demonstrates the project’s reliability as a competitive supplier of LNG to the global market. Angola LNG’s momentous cargo was loaded onto a 160,000 cubic meter LNG carrier, berthed at the country’s Soyo terminal on 13
The Executive aims to make the country’s refineries internationally competitive with real prices in a market economy and increase fuel production, stated Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, in a press conference yesterday. Speaking at the presentation of the Fuel Subsidies Reform Program, he said that the government’s strategy with the existing refineries in Angola – which currently only cover about 20% of the country’s petroleum derivatives needs – is to increase
This change is a result of the gradual removal of fuel subsidies announced by the Government in Luanda on Thursday 1stnJune. This measure does not apply to licensed taxi drivers, motorcycle taxi drivers, and licensed fishing vessels, who will continue to pay the previous price of 160 kwanzas per liter using a fuel card with a weekly or monthly balance. According to the Secretary of State for Land Transportation, Jorge Bengue, the fuel cards will
