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Diamonds Economy Local News

CATOCA Advocates for Fairness in Mining Resource Distribution

Benedito Manuel, the general director of CATOCA, emphasized the need for mining companies to go beyond mere social responsibility and prioritize social justice and equity in the distribution of resources, particularly in diamond-rich areas. Speaking at the panel discussion on “the social responsibility of diamond companies in mining regions” during the Mining Indaba, Manuel stressed the importance of processing the exploited resources locally to create a value chain that fosters job creation and contributes to

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Local Economy Energy Infrastructure

Strengthened U.S.-Angola Ties Poised to Boost Energy and Infrastructure Development

U.S. Secretary of State Anthony Blinken’s visit to Luanda in January 2024 cemented Washington D.C.’s commitment towards energy development and economic prosperity in Angola. In a meeting with Angola’s President João Lourenço and Foreign Minister Tete António, Blinken discussed bilateral relations and partnerships in the areas of infrastructure, energy, economic engagement and trade. The U.S. signed a seven-side MoU in October 2023 with the African Development Bank, the Africa Finance Corporation, the EU and the

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Economy Diamonds Local Mining News

Angola’s Diamond Industry Promises High Returns for Investors

Angola’s diamond industry is emerging as an increasingly attractive investment opportunity, driven by legislative reforms, the discovery of high-quality deposits, and a forward-thinking approach by the government. With the Ministry of Mineral Resources, Oil, and Gas actively engaging with regional and global partners, Angola aims to enhance diamond production and position itself as a hub for this precious gem. Sectoral Reforms Encourage Foreign Investment As the fourth-largest diamond producer in Africa and the sixth globally,

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Economy Local News Oil

Angola Set to Drill 43 Wells in 2024

Angola is gearing up for a significant boost in drilling activity in 2024, with plans to spud 43 wells, reflecting a 16% increase compared to the previous year. The country has set ambitious targets for a near-term production surge to reach 1.2 million barrels per day, and this will be facilitated by the expansion of the well pipeline, contributing to an overall increase in output. The planned drilling activities for 2024 mark a noteworthy advancement,

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Economy Local News Oil

Angolan Oil Sector Addresses Impact of the New General Labor Law

The Association of Companies Providing Services in the Angolan Oil Industry (AECIPA) is holding a workshop today at the Higher Polytechnic Institute of Technologies and Sciences (ISPTEC) in Luanda. The workshop aims to analyze the changes in the New General Labour Law (NLGT) in the petroleum sector. According to the statement, the event, titled “New General Labour Law, What Has Changed,” will address some of the key issues of major relevance in the amendments to

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Diamonds Economy Local Mining News Oil

Angola and Botswana Focus on Oil and Diamond Refining

Angola and Botswana convened their respective ministerial delegations yesterday Wednesday 7th February, in Cape Town, South Africa, to discuss cooperation in the mineral resources sector. The ministers, Diamantino Pedro Azevedo from Angola and Lefoko Moagi from Botswana, explored the possibility of future bilateral meetings. During the meeting, the focus was on the foundational aspects of bilateral cooperation between Botswana and Angola, emphasizing the development of the extractive industry and the potential for strengthening relations in

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Economy Energy Local Mining News

Trafigura and partner agree to transport minerals through the Lobito Corridor

The Trafigura and Kamoa-Kakula signed an agreement on Wednesday in South Africa to transport minerals for a minimum period of six years through LAR – Atlantic Lobito Corridor, the company that manages the Lobito Corridor operation. According to a statement sent to the editorial team, the terms of this agreement, the clauses of which are confidential, were signed during the Mining Indaba in Cape Town, South Africa. These mark the first long-term commercial commitments with

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Local News

Diamantino Azevedo invites companies from the mining sector to invest in Angola

Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, urged mining sector companies to invest in Angola during the 30th edition of Mining INDABA-2024 in Cape Town, South Africa. Azevedo extended an invitation to business leaders to explore Angola’s numerous opportunities, robust infrastructure, and comprehensive geological data available for investors. The minister’s call was part of a forum titled “Angola: Mining Potential and Business Opportunities for Investors,” which attracted over 500 participants, as reported by

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Diamonds Economy Local News

Angola’s Diamond Sector Invests $235 Million in Social Responsibility Projects

The Diamond Subsector has contributed approximately $235.8 million to social responsibility projects from 2017 to the first half of 2023, revealed Sidónio Borges, Head of the Information Technologies and Marketing Department at Fundação Brilhante, during a workshop on social responsibility actions in Luanda. Of this total, $112.8 million has been allocated to completed projects, while $123.04 million is earmarked for ongoing initiatives. Leading contributors to these efforts include Sociedade Mineira de Catoca, Sodiam, Endiama, and

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Oil Local News Petroleum

Diamantino Azevedo asks Sonangol’s new executive director for greater dynamics

The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, asked, last week for greater dynamism from the new executive administrator of Sonangol’s Board of Directors to achieve Sonangol’s objectives in increasing prospecting and research for more resources. By delegation of powers from the President of the Republic when inaugurating the new executive administrator of the Board of Directors of Sonangol, Belarmino Chitangueleca, appointed on Wednesday, Diamantino Azevedo requested greater commitment to the execution of

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