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Corporate News Local Mining Projects

Anglo American Advances Copper Exploration in Angola’s Moxico Leste Province

Anglo American Presents Copper Prospecting Project in Angola’s Cazombo Salient Amid Regional Copper Belt Expansion Anglo American has presented a copper prospecting project in Angola’s Cazombo Salient, highlighting new opportunities for the country’s mining sector. The presentation took place on Tuesday in the commune of Calunda, in the municipality of Muconda, Moxico Leste province, and was disclosed by the Ministry of Mineral Resources, Petroleum and Gas in a statement. According to the ministry, Anglo American

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Local Economy News Oil

Angola Approves Tax Incentives for High-Risk Offshore Oil Blocks to Boost Investment

Angola grants new tax incentives for Chevron, TotalEnergies and BP oil blocks to attract upstream investment The Angolan government has approved additional tax incentives for four offshore oil blocks in a move aimed at attracting investment into areas considered to carry high operational complexity and significant geological risk. The decision was taken during an extraordinary session of the Council of Ministers held on Monday at the Presidential Palace, chaired by President João Lourenço. The measures

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Local Energy News Oil

Angola Urged to Accelerate Energy Diversification as Oil Production Decline Looms

Angola must invest in electricity exports and prepare for post-oil economy, warns Antonio Costa Silva Former Portuguese Economy Minister António Costa Silva has urged Angola to urgently accelerate economic diversification and prepare for a post-oil future, warning that declining production from mature oil fields could significantly impact the country’s revenues in the coming years. Speaking in Luanda during the presentation of a Deloitte banking sector report, Costa Silva noted that Angola could face an estimated

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Local Corporate News Oil

Sonangol Secures $2.65 Billion Bank Financing to Support Operations and Investment Plans

Angola’s Sonangol Raises $2.65 Billion from International Banks to Fund Operations and Refinery Expansion Angola’s national oil company, Sonangol, has secured a US$2.65 billion financing package from a consortium of international banks to support its operational needs and ongoing capital investment programme, according to a company spokesperson cited by Reuters. Sonangol, Angola’s largest energy company, operates across the full hydrocarbons value chain, including crude oil and natural gas exploration, production, and downstream activities. Bankers involved

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Local Corporate News Oil

Angola Secures $5.1 Billion Investment for Major Greater PAJ Offshore Oil Development

Angola Approves $5.1 Billion Greater PAJ Offshore Oil Project to Boost Production and Extend Oil Lifespan Angola has secured a significant vote of confidence in its oil sector after Azule Energy and its partners approved the US$5.1 billion Greater PAJ offshore development, one of the country’s largest upstream investments in recent years. The Final Investment Decision (FID), announced in Luanda, paves the way for development across offshore Blocks 31 and 31/21, an area estimated to

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Corporate News Local Oil

Equinor Acquires 30% Stake in Angola Offshore Block 16/21 in Deal with TotalEnergies

Equinor Takes 30% Stake in Angola’s Block 16/21 as TotalEnergies Retains Operatorship in New Offshore Agreement Equinor has signed an agreement with TotalEnergies to acquire a 30% participating interest in offshore Block 16/21 in Angola. Under the terms of the deal, TotalEnergies will retain full operatorship of the block. The transaction is subject to approval by the relevant Angolan authorities before it can be finalized. Block 16/21 is currently in the exploration phase and has

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Local News Transport and Logistics

Zambia and US Expand $491 Million Grant Programme to Support Lobito Corridor Infrastructure

Zambia, US Redirect Part of $491 Million Agriculture Grant to Boost Lobito Corridor and Critical Minerals Infrastructure Zambia has reached an agreement with the United States’ Millennium Challenge Corporation (MCC) to expand the scope of a $491 million grant programme, allowing part of the funding to support infrastructure linked to the country’s critical minerals sector and the strategic Lobito Corridor. The grant, signed in 2024 under the MCC’s “farm-to-market” initiative, was initially designed to strengthen

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Local Corporate News Mining Projects

Qatar-Backed Cascade Strengthens Rare Earth Ambitions with Board Appointment and Pensana Investment

Qatar-Backed Cascade Advances $165 Million Pensana Investment as Sheikh Dr Badr Al-Hajri Joins Board Qatar-backed Cascade Natural Resources has appointed Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to its board of directors, a move that underscores the company’s growing international profile and Qatar’s support for its expansion in the critical minerals sector. The appointment comes as Cascade advances its strategic $165 million investment in rare earths developer Pensana and its flagship Longonjo rare earth project

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Transport and Logistics Local Mining

Lobito Atlantic Railway Restarts DRC Copper Shipments Following Flood Damage Repairs

Lobito Corridor Resumes DRC Copper Exports After Flood Repairs Restore Rail Link Lobito Atlantic Railway (LAR) has received its first copper shipment from the Democratic Republic of Congo since restoring a flood-damaged section of the Lobito Corridor, reopening a critical export route for Central African minerals. The rail link between the Port of Lobito and Huambo had been closed for approximately two months after severe flooding damaged infrastructure along the route. Following emergency repair works,

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Local Corporate News Mining

Swakop Uranium and Sonangol Partner to Advance Critical Minerals Development

Angola’s Sonangol Deepens Critical Minerals Strategy With Swakop Uranium Partnership Angola’s national oil company Sonangol has signed a Project Development Agreement (PDA) with Namibia-based Swakop Uranium, marking a strategic step in Angola’s push to diversify beyond hydrocarbons into the global critical minerals sector. While financial details were not disclosed, the agreement is expected to cover exploration, project development, and technical cooperation focused on minerals essential to the energy transition, including uranium and other strategic resources.

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