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
Lucapa Diamond Restructuring Plan Promises Full Creditor Repayment and Shareholder Returns Lucapa Diamond Company, the Perth-based miner behind the Lulo alluvial mine in Angola and the Merlin project in Australia, is eyeing a potential lifeline through a planned Deed of Company Arrangement (DOCA). The arrangement could ensure full repayment to creditors and offer a partial return to shareholders. Administrators Richard Tucker and Paul Pracilio of KordaMentha were appointed in May after Lucapa faced falling diamond
De Beers Group, together with Angola’s national diamond company, Endiama, yesterday announced a significant step forward in their joint exploration efforts with the discovery of kimberlite, the host rock for diamonds, in Angola. In July 2025, the De Beers-Endiama joint venture successfully intersected kimberlite in its first drill hole into a high-priority cluster of targets, identified from the airborne surveys completed in March 2025. This breakthrough represents the discovery of the first new kimberlite field
OPEC+ Boosts Oil Production by 547,000 Barrels Daily from September 2025 — What This Means for Angola’s Oil IndustryThe Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced on Sunday a decision to increase oil supply by 547,000 barrels per day, effective from September 1, 2025. This move comes amid a globally stable economic outlook, with eight participating countries agreeing on the production adjustment in a virtual meeting. The decision was made by
Port of Lobito Achieves Positive ISO Certification Audit and Wins Top Award at Angola Municipalities Fair The Port of Lobito has recently received a positive evaluation of its Integrated Management System from auditing firm MS Certification, in line with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards. According to a report, the port authority earned top marks for quality management, environmental protection, and occupational health and safety. A team of MS Certification auditors spent a
Angola’s Sonangol to Launch 30% IPO to Fund Exploration and Strengthen Energy Sector Angola’s state-owned oil giant Sonangol has reaffirmed its commitment to proceed with an Initial Public Offering (IPO) that will make 30% of its shares available to investors. The move is aimed at raising capital to advance exploration and production projects, as part of broader government efforts to transform Sonangol into a more competitive upstream player. Initially scheduled for 2022, the IPO process
Zambian Firms Seal $30.1 Million in Deals at Angola’s FILDA Trade Fair Luanda — The Zambian Development Agency (ZDA) has announced that Zambian companies secured an estimated US$30.1 million in trade deals during the 40th Edition of the Angola International Trade Fair (FILDA 2025). The agreements reflect growing interest from Zambian businesses in expanding partnerships with Angolan companies across multiple sectors. In a statement released Monday, the ZDA confirmed that 20 Zambian companies participated in
Catoca Celebrates 30 Years with Expo in Luanda Showcasing Innovation and Sustainability in Angola’s Diamond Sector From August 26 to 28, Luanda will host Expo Catoca, an event dedicated to celebrating the 30th anniversary of Catoca, Angola’s leading diamond mining company and operator of the world’s fourth-largest open-pit diamond mine. Held under the slogan “Here, where diamonds meet the community”, the expo will serve as a platform for reflection, knowledge-sharing, and showcasing the company’s most
