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Corporate News Local Mining Projects

Pensana Secures $100 Million Strategic Investment to Advance Longonjo Project

Pensana Raises $100 Million to Accelerate US Mine-to-Magnet Rare Earth Supply Chain Strategy London-listed Pensana has completed a $100 million strategic investment to support the company’s US-focused mine-to-magnet supply chain strategy, strengthening funding for the development of its Longonjo rare earth project in Angola. Under the agreement, the strategic investor has subscribed for 95 million new ordinary shares, subject to confirmatory due diligence on the Longonjo project, shareholder approval for the share issuance, and regulatory

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Corporate News Local Oil

Lobito Refinery Construction Confirmed as Strategic Priority for Sonangol

Lobito Refinery Set to Begin Production in 2027 as Sonangol Prioritizes Strategic Energy Infrastructure The construction of the Lobito refinery is a top priority for Sonangol, according to the Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. The minister made the statement during a meeting with the Governor of Benguela, Manuel Nunes Júnior, where progress on the project was reviewed. Speaking at the meeting, Diamantino Azevedo reiterated the strategic importance of the refinery, emphasizing

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Diamonds Local News

Angola Achieves 93 Percent Diamond Traceability to Strengthen Transparency and Governance

Angola Tracks 93 Percent of Diamond Production, Aiming for Full Traceability and Global Leadership Angola has successfully traced 93 percent of its diamond production, advancing its goal of promoting transparency, governance, and adherence to international best practices, the Angolan National Diamond Company, Endiama, announced on Tuesday. A statement from Endiama emphasized that diamond mining companies in Angola “have reached a significant milestone by ensuring that 93 percent of total production is now traceable.” This achievement

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Local Energy

Angola to Open Electricity Market to Private Companies Starting Next Year

Angola Ends Monopoly of State Electricity Company, Allowing Private Firms to Sell Power from 2026 Angola will allow private companies to begin selling electricity in the country starting next year, ending the monopoly held by the National Electricity Distribution Company (ENDE), announced the Minister of Energy and Water, João Baptista Borges. The move is aimed at addressing high operational costs and supporting the rapid expansion of electricity networks in rural areas, the minister explained during

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Corporate News Local Oil

Sonangol Faces Structural Decline and Urgent Need for Privatization and Management Reform

CEDESA Warns of Sonangol’s Structural Decline, Urges 45% Privatization and Governance Overhaul A recent analysis by the Center for Studies of Economic and Social Development of Angola (CEDESA) warns that Sonangol, Angola’s state-owned oil company, is in structural decline and requires comprehensive reforms, including the privatization of 45 percent of its capital and the removal of political party members from management positions. The report, authored by Rui Verde, states that Sonangol’s challenges cannot be explained

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Local Transport and Logistics

U.S. and European Union Strengthen Cooperation on the Lobito Corridor and Regional Stability

U.S. and EU Renew Support for Lobito Corridor to Boost Peace, Trade and Minerals in Central Africa The United States and the European Commission reaffirmed their “joint commitment to promoting peace, security, and economic growth” in Africa’s Great Lakes region on Thursday, in a statement focused on the Lobito Corridor and investment in Central Africa. Published by the U.S. State Department, the declaration emphasizes Washington and Brussels’ intention to “create the conditions necessary for increased

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Local Mining Projects News

Pensana Plans Major Boost in Heavy Rare Earth Production at Angola’s Longonjo Mine

Pensana Targets Fivefold Increase in Heavy Rare Earth Output at Longonjo Project Following a comprehensive review of the Longonjo processing flowsheet, London-listed rare earths producer Pensana says it has identified significant potential to increase the content of heavy rare earths in its high-value mixed rare earth carbonate (MREC) product by more than five times. The evaluation was launched in response to rising demand from offtake partners seeking secure supplies of both light and heavy rare

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Local Energy News

Angola Confirms 2027 Start-Up for First Turbine of Caculo Cabaça Hydroelectric Dam

Caculo Cabaça Hydropower Project Reaches 40% Completion; First Turbine to Begin Operation in 2027 The Ministry of Energy and Water has announced that the first of the four turbines of the Caculo Cabaça Hydroelectric Project is expected to begin operating in 2027. The project, located in Cuanza Norte province, has reached approximately 40 percent completion and continues to progress at a steady pace. In a statement accessed by VerAngola, the ministry highlighted that on Tuesday

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Local Corporate News Oil Petroleum

Etu Energias Inaugurates New Fuel Station at Luanda’s Cuca Factory

Etu Energias Expands National Fuel Network with New Station at Cuca Factory in Luanda Etu Energias inaugurated a new fuel station this Friday within the perimeter of the Cuca Factory in Luanda, marking another step in the company’s strategic expansion in Angola’s energy distribution sector. The announcement was made in a statement sent to VerAngola. According to CEO Edson Santos, the opening of the Cuca Fuel Station (PA Cuca) “symbolizes Etu Energias’ commitment to the

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Local Gold News

Endiama Confirms December Testing for Angola’s First Gold Refinery

Angola’s First Gold Refinery Nears Completion, Testing Phase Set for December Endiama has announced that Angola’s first gold refinery—currently under construction in the Viana Industrial Park—is expected to begin its testing phase in the second half of December. The projection was shared this Thursday during a site visit by the company’s Chairman of the Board of Directors (PCA). According to an official statement accessed by VerAngola, the visit confirmed that the project is in its

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