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Economy Local News

Zambian businesspeople want to invest in Cuando Cubango

Around 40 Zambian businesspeople showed interest in investing in Cuando Cubango, in the sectors of agriculture, exploration of mineral resources, health, education, tourism, construction of hotel infrastructure, among other areas that constitute business opportunities. The intention was expressed, last wednesday, by the consul general of Zambia in the provinces of Lunda Sul, Moxico and Cuando Cubango, Boniface Musumali, at the end of a meeting, which he held with the deputy governor for the Political, Economic

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Diamonds Local News

Lucapa Diamond Company Sells $10.5 Million Worth of Exceptional Diamonds from Lulo Mine

Lucapa Diamond Company has successfully completed the sale of three remarkable diamonds recovered from its Lulo mine in Angola, fetching a total of $10.5 million at tender. Conducted by Sodiam in Luanda, the tender concluded on April 19, showcasing three Type IIa white diamonds weighing 203 carats, 116 carats, and 43 carats. This marked Lucapa’s first tender of Lulo diamonds for the year. The combined weight of the diamonds amounted to 361 carats, achieving an

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Gold Economy Local News

Angola’s Gold Refinery Project Marks Strategic Step in Mineral Sector Development

The construction of the Gold Refinery in Luanda, spearheaded by GeoAngol, a subsidiary of Endiama, received significant attention on Thursday, highlighted as a priority action by the Angolan Executive for the Mining Sector, as declared by Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo. Speaking at the opening of a seminar on “Mineral Resources and the Gold Mineral Value Chain in Angola” in Huambo, Azevedo emphasized the importance of refining gold locally to add

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Local Gold News

Gold Refinery in Luanda Nears Completion, Expected to Open in 2025

The Gold Refinery project in the municipality of Viana, Luanda, is on track for completion, with expectations of inauguration in the first half of 2025, announced Domingos Baptista, the general director of Geoangol. Speaking at the Workshop on Mineral Resources and the Gold Value Chain in Huambo province, Baptista stated that the construction progress stands at 50%, with anticipation for completion by the end of the year. Baptista emphasized that the refinery project involves 23

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Local Mining News

Angola-Japan Partnership Boosts Geological Studies with $3 Million Aid

The Geological Institute of Angola (IGEO) is set to enhance its geological studies across the country, thanks to a generous non-refundable financial aid of three million dollars from Japan. The announcement was made by the Secretary of State for International Cooperation and Angolan Communities during the signing ceremony of the Exchange of Notes on the Implementation of the Economic and Social Development Program in Mineral Resources. The aid, part of the Cooperation Protocol between IGEO

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Diamonds Economy Local News

SODIAM raises 17 million dollars in Diamond auction

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

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Local Infrastructure News

76 percent of Construction halted at the end of 2023

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

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Local Gas News Oil Petroleum

Angola’s Newfield Deepwater FPSO Project Commences

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

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Local Mining News

Pensana Appoints Benedito Dumbo as Longonjo Rare Earths Mine Site Manager

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

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Local Mining News

Angola’s Minbos Resources Secures $14M Debt Facility from IDC

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

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