Luanda – The strategic importance of the Lobito Corridor and enhanced cooperation between Africa and the European Union (EU) were key topics at the EU high-level conference held this week in Rome, Italy. The event aimed to strengthen ties between African nations and the EU. Under the theme “The Mattei Plan for Africa and the EU’s Global Gateway: A Common Effort with the African Continent,” the conference brought together political leaders and private sector representatives
Following the approval of a $268 million financing package, newly appointed UK Ambassador to Angola, Bharat Joshi, visited the Longonjo site to assess progress ahead of construction. Accompanied by Country Manager Geraldine Tchimbali, local Huambo authorities, community leaders, and the press, the ambassador observed site preparations for the Pensana rare earths project. Joshi emphasized the global significance of Longonjo, stating, “Longonjo might seem like a small village in the heart of Angola, but for the
Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has announced that niobium production will begin this year in Quilengues, Huila. The long-awaited project is expected to commence once electricity supply issues at the site are resolved. “If everything proceeds as planned, production activities will begin this year in the first phase, with future expansion planned,” Azevedo stated during a meeting with Niobonga, the Chinese company overseeing production. He emphasized the project’s significance, noting
The Angolan government has raised the price of diesel from 200 to 300 kwanzas per liter, effective from 1:00 AM on March 24, 2025. The Petroleum Derivatives Regulatory Institute (IRDP) announced the measure, stating that it is part of the ongoing “gradual adjustment of retail fuel prices to market levels.” In a statement released on Sunday, the IRDP clarified that, as the regulatory authority, it is responsible for setting and announcing fuel prices. While diesel
London-listed Pensana has secured full financing of $268 million for the development of its Longonjo rare earth project in Angola, marking a significant step forward for the global magnet metal supply chain. The Africa Finance Corporation (AFC) has approved a $81.2 million contribution to a $160 million syndicated loan facility, alongside South Africa’s Absa Bank. This facility will cover 60% of Phase 1 funding, subject to final loan documentation and conditions precedent. The remaining funding
Australia-listed Lucapa Diamond Company has finalized its Mineral Investment Contract (MIC) for the Lulo Joint Venture (JV) in Angola, increasing its ownership stake to 51%. During a three-day meeting in Angola, the MIC committee and JV partners—including Endiama, Rosas & Petalas, and Lucapa—agreed on all outstanding details. The final agreement has now been submitted to the Angolan Ministry of Mineral Resources and Petroleum for formal signing. A signing ceremony is expected soon, with Lucapa set
The exit of Russian diamond company Alrosa from Angola’s Catoca and Luele mines was officially finalized on Monday through the signing of three agreements between Endiama, Angola’s national diamond company, and Taaden, a state-owned mining company from Saudi Arabia. Endiama Chairman José Ganga Júnior explained that Alrosa’s departure was driven by operational difficulties stemming from sanctions imposed on Russia. Over the past 15 months, efforts were made to secure a viable solution for Catoca and
Angola’s National Agency for Petroleum, Gas, and Biofuels (ANPG) has signed a memorandum of understanding (MoU) with Vietnamese company Xuan Thiên Group (XTG) to explore the oil potential of the Etosha Okavango Basin. The agreement, signed in Luanda, marks a significant step toward assessing the region’s hydrocarbon resources. Key Highlights of the Agreement 🔹 Exploration Scope: The study will cover approximately 300,000 square kilometers in the Etosha/Okavango Basin.🔹 Seismic Data Acquisition: The project includes obtaining
Afentra plc has confirmed ongoing negotiations to acquire interests in Blocks 3/05 and 3/05A from Etu Energias, though a final agreement is not yet guaranteed. The company intends to finance the acquisition using existing cash reserves, pending regulatory and government approvals. In collaboration with Sonangol and joint venture partners, Afentra is developing a strategic plan to boost production, expand reserves, and maximize asset value in these blocks. As an upstream oil and gas company, Afentra
Most mining companies operating in Angola’s Cabinda province, particularly in the gold sector, risk losing their exploration licenses due to non-compliance with government regulations, warned Angola’s Secretary of State for Mineral Resources, Jânio Corrêa Víctor, on Saturday. Speaking to the press during a two-day working visit to Cabinda, Víctor revealed that out of 11 licensed gold projects in the province, only one has delivered tangible results, while the rest remain inactive. He noted that Angola
