Rough resources at Lucapa Diamond Company’s Lulo deposit in Angola increased 48% in 2023 as the miner identified new material that will add an extra eight years to the deposit’s production. The figure, which refers to the volume of diamonds with a reasonable prospect of being extracted economically, climbed to 228,000 carats as of December 31, from 153,870 carats a year earlier, the company said Monday. The miner had the asset independently estimated by South
The Angolan government has stated that the potential withdrawal of the Russian multinational Alrosa from the Catoca project depends on ongoing political assessments, expressing confidence that there will be no prohibition on the sale of Angolan diamonds in the European Union (EU). Jânio Vitor Correia, the Secretary of Mineral Resources, clarified that while the EU is scrutinizing a partnership involving Catoca (Alrosa), diplomatic efforts are underway to address the situation. He emphasized that there is
Angola’s National Diamond Company is going to forge closer partnerships with Chinese companies to develop Angolan diamond projects. The information was given last Saturday in Beijing by the chairman of the board of directors of ENDIAMA-E.P, Ganga Júnior, on the sidelines of the Angola-China Economic Forum, held as part of the strengthening of cooperation between the two countries. ENDIAMA’s president explained that the trip to Beijing had had a “very positive” outcome, and that a
China National Offshore Oil Corporation (CNOOC) is sending a team of senior executives to Angola to explore fresh oil exploration prospects, according to Reuters. This move aligns with Angola’s efforts to bolster its energy partnership with China, a major creditor and a key market for its oil exports. The desire to enhance energy ties was emphasized during President Joao Lourenco’s recent visit to Beijing, as conveyed by Angolan authorities. Announcing the forthcoming delegation from CNOOC,
Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, embarked on a visit to China, where he engaged with representatives from China National Petroleum Corporation (CNPC) and China National Chemical Engineering Company (CNCEC) on potential collaborations. During the meetings, Azevedo, accompanied by ANPG and Sonangol officials, discussed various opportunities in Angola’s oil and mining sectors, including the exploration of oil blocks, refining, petrochemicals, and the trade of crude oil. Both parties expressed their commitment
International Marketing professor Stover Ezequias and economist Paulo Santos discussed the recent 21% drop in diamond production in Angola, emphasizing the need for a strategic plan to revive the sector. Ezequias highlighted the significance of the diamond sector, constituting 96% of Angola’s mining production, and warned about potential trade deficits due to reduced export revenues. Santos attributed the decline in production to low diamond prices and decreased demand during the COVID-19 pandemic, cautioning that recovery
Solar energy provider Trina Solar, in partnership with renewable energy firms SOLA and Wilson Bayly Holmes-Ovcon (WBHO), is set to develop the 135 MW Merak 1 project. The project aims to supply solar power to mining company African Rainbow Minerals’ operations. Trina Solar will provide 205,161 panels of its Vertex modules for the Merak 1 project, while SOLA and WBHO Construction’s joint venture will oversee its execution. Zaheer Khan, Trina Solar’s Regional Director of Southern
Angola’s national oil company, Sonangol, has undergone privatization, enhancing its competitiveness and capacity as an operator. Seeking partnerships for exploration and production projects, Sonangol is reaching out to US companies. A networking event in Houston on March 19, hosted by Angola Oil & Gas 2024, presents a platform for Sonangol and US investors to connect and forge strategic alliances. Supported by key stakeholders, including the Ministry of Mineral Resources, Oil and Gas, Sonangol, and others,
The governor of Benguela province called upon the local business community to fully embrace the potential offered by the Corridor and Refinery in Lobito. Speaking at the inauguration of the new headquarters of Aliança Empresarial, Governor Luís Nunes emphasized the importance of unity among entrepreneurs. Aliança Empresarial, currently comprising 17 members, expanded its ranks by four during the event. The mission of these new members aligns with supporting the socioeconomic development of the province through
Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, extended an invitation to Chinese entrepreneurs in Beijing on Saturday, March 16th to consider investing in the country’s hydrocarbon sector. The Economic Forum organized by the Ministry of Mineral Resources, Oil, and Gas (MIREMPET) in China showcased investment prospects in Angola’s oil and gas industry, garnering significant interest from Chinese firms and investors. In his address, Minister Azevedo emphasized the diversity of investment opportunities, ranging
