The National Diamond Trading Company of Angola (SODIAM) raised, this Friday 19th April, 17 million dollars with the sale of 636.28 carats (auction of 20 special stones). According to a press release, these are rough diamond productions from the Mining Companies of LULO SOMILUANA, CHITOTOLO, UARI and KAIXEPA. The evaluation sessions took place from the 11th to the 18th of this month, at SODIAM’s facilities in Luanda, with bids being submitted electronically on the online
Seventy-six percent of the country’s works were at a standstill in the third quarter of last year, according to figures from the National Statistics Institute (INE), which say that, of 3,125 buildings visited in that period, 2,404 were inactive. The numbers are included in the Quarterly Survey of Progress and Monitoring of Buildings in the Construction Process (ITAEPC), a document produced to characterize the progress of the construction of private buildings in the country’s main
Angola’s deepwater Block 15/06 partners have reached a significant milestone with the completion of the survey and installation of the initial modules of the FPSO for the Agogo field, according to reports from the country’s regulator. The National Oil, Gas, and Biofuels Agency (ANPG) announced that the first two modules of the FPSO Agogo have been successfully installed, marking the beginning of a crucial phase in the project. ANPG stated, “These are the first two
London-listed rare earths miner Pensana has named Benedito Dumbo as the site manager for the Longonjo rare earths mine in Angola, marking a significant step ahead of the project’s main construction phase. Dumbo, a native of Luanda, Angola, brings three years of experience as a mining engineer dedicated to the project’s development. His expertise spans various crucial areas, including drilling, logging, fleet management, and maintenance systems. Graduating from the Camborne School of Mines, part of
Development finance institution the Industrial Development Corporation (IDC) of South Africa has approved a $14 million debt facility for the construction of the Cabinda Phosphate project in Angola. Mineral exploration and development company Minbos Resources – the project’s developer – has received credit committee approval for the funds, enabling the company to kickstart development. The IDC funding will cover the majority of the project’s total cost – estimated at $24 million – with the remaining
The barrel of Brent, a reference to Angolan exports, closed the week at 90.15 dollars, and given the favorable market conditions, it is expected that it will rise to higher levels throughout the sessions that resume today on the stock exchanges. Market details show that, over the last 52 weeks, the order price per barrel has varied between $71.28 and $97.69 for 1,000-barrel contracts. Deliveries for June, in turn, last Friday, were being carried out
Nigeria is grappling with the daunting task of finding buyers for its crude oil, with approximately 30 out of 53 loaded cargoes currently stranded. This predicament arises despite the country experiencing low production levels, with Angola surpassing Nigeria as the leading crude oil producer. Bloomberg data indicates that the unsold cargoes could exceed 30 million barrels. While Nigeria boasts one of the world’s best grades of crude oil, challenges such as refinery maintenance and stiff
In a significant announcement, José Manuel Augusto Ganga Júnior, President of the Board of Directors of the National Diamond Company (ENDIAMA), unveiled plans for a groundbreaking feasibility study aimed at tapping into Angola’s untapped oceanic resources, including diamonds and other valuable minerals. The revelation came during a high-profile event in Luanda, underscoring Angola’s commitment to diversifying its mining sector and harnessing its rich natural resources. Addressing reporters at the “Albina Assis” auditorium of the Ministry
The Secretary of State for Mineral Resources, Jânio Correia Victor, expressed optimism about Angola’s gold production and refining capabilities during a recent address in Luanda. He highlighted significant strides made in gold production in provinces like Cabinda, Huíla, and Huambo, and emphasized the imminent completion of the Luanda Gold Refinery. Victor asserted that these developments lay the groundwork for the mineral sector to contribute substantially to the country’s revenue in the coming months. Speaking at
Benedito Manuel, the General Director of Sociedade Mineira de Catoca, recently highlighted the significance of the Luele mine project in the province of Lunda Sul. He emphasized that it’s an ENDIAMA initiative, with Angolan managers from Catoca leading the entire process, from discovery to mine layout. In an interview with EXPANSÃO newspaper, Manuel underscored Catoca’s pivotal role as a “special technical arm” of the Angolan National Diamond Company, particularly in advancing the nation’s diamond sub-sector.
