Two New Solar Plants in Moxico Leste to Power Over 36,000 Homes by Year-End Moxico Leste’s energy capacity is set to expand significantly in the coming months with the launch of two new photovoltaic plants in Luau and Cazombo. The Luau facility is scheduled to begin operations in September, followed by the Cazombo plant in November, together supplying clean power to more than 36,000 households. According to the Moxico Leste provincial government, the Cazombo photovoltaic
Angola’s Mining Minister Flags Illegal Diamond Trade and Child Labor in Lunda Norte The Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has warned that diamond mining in Lunda Norte faces “a serious and complex challenge,” with the province recording the highest number of illegal diamond hotspots in Angola. Speaking during the inauguration of a new university campus in Lunda Norte, a USD 60 million investment unveiled by President João Lourenço, the minister expressed
De Beers and Endiama Discover New Kimberlite Field in Angola, Boosting Diamond Potential The Angolan Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has confirmed the return of De Beers to Angola, highlighting the discovery of a new kimberlite field in partnership with Endiama, the national diamond company. The announcement was made in Saurimo during the inauguration of the Polytechnic Institute of Lueji A’Nkonde University. Minister Azevedo noted that the South African mining giant’s
Angola Crude Oil Production Dips Below 1 Million Barrels per Day in July, Raising Revenue Concerns Angola’s crude oil production fell below 1 million barrels per day in July, reaching its lowest level since March 2023. According to the National Agency for Petroleum and Gas (ANPG), output dropped to 998,757 barrels per day, missing the government’s projection of 1.07 million barrels. The decline poses a risk to Angola’s revenue targets, especially as oil prices trade
Angola Launches $69 Million Lueji A’nkonde University Campus to Educate Over 8,000 Students On August 14, Angola celebrated the inauguration of the Lueji A’nkonde University Campus in Lunda-Norte Province, a major investment exceeding $69 million by ENDIAMA. The ceremony was presided over by President João Lourenço, marking a significant milestone in Angola’s commitment to higher education and regional development. The new campus houses two faculties—Law and Economics—with a total of 87 classrooms: 47 for Economics
DRC Prime Minister and Angolan President Forge Strategic Partnership to Boost Stability and Trade in Central Africa The Prime Minister of the Democratic Republic of Congo (DRC), Judith Suminwa Tuluka, held high-level talks with Angolan President João Lourenço, who also serves as the African Union Chairperson. The discussions centered on enhancing security in the Great Lakes region and deepening economic cooperation, signaling a shared commitment to establishing their bilateral relationship as a pillar of stability
Rare earth prices climb after US-China policy shifts, boosting interest in Pensana’s Angola project Rare earth prices have surged following two major policy moves: the US government’s agreement with MP Materials, which set a price of $110,000 per tonne for neodymium and praseodymium (NdPr), and China’s decision to ban the stockpiling of NdPr metal. London-listed emerging rare earths miner Pensana has highlighted the developments as it continues progress on its Longonjo rare earths project in
Lobito Atlantic Railway close to securing $533M US loan to modernize Angola’s key copper and cobalt export route Lobito Atlantic Railway (LAR) expects to finalize a $533 million loan agreement with the US International Development Finance Corporation (DFC) by the end of this year, according to CEO Nicholas Fournier. The financing is crucial to upgrading its Angolan railway concession and strengthening a vital export corridor for critical minerals. The DFC committed the loan in 2024
Lobito Atlantic Railways Names Nicholas Fournier CEO and Alexandre Canas Chair to Drive Angola’s Transport Corridor Expansion Angola’s rail operator Lobito Atlantic Railways (LAR) has announced a significant leadership change, appointing Nicholas Fournier as CEO and Alexandre Canas as chairperson on August 19. The move marks the formal separation of the two roles, a step aimed at strengthening governance as the company enters a crucial phase of operational growth. With its new executive committee and
Pan-African Parliament Calls on Angola to Ratify AfCFTA for Africa’s Economic Integration The President of the Pan-African Parliament (PAP), Chief Fortune Zephania Charumbira, has wrapped up a four-day official visit to Angola aimed at encouraging the country to ratify the African Continental Free Trade Area (AfCFTA) agreement — a cornerstone initiative for Africa’s economic integration. The AfCFTA, a flagship project of the African Union’s Agenda 2063, seeks to remove trade barriers across the continent and
