The upcoming Technical and Scientific Days of the Mining Workers’ Day, running from April 15th to 27th, will showcase significant milestones in Angolan mining, including the inauguration of the Samiluana diamond project in Lucapa and the Cácata Phosphate Exploration Project in Cabinda. The Samiluana diamond project, located in Lunda-Norte province, boasts an estimated production capacity of 12 thousand carats per month and is set to create 762 jobs. With a 33 percent stake from Samiluana
Angolan oil company ACREP’s shares are now listed on the “MROV” Over-the-Counter Market of the Angolan Debt and Stock Exchange (BODIVA) following a recent bidding process. The auction determined demand for 24 percent of the 37 percent stake held by Banco de Poupança e Crédito (BPC) in the private oil and gas firm. The Market for Registration of Transactions on Securities (MROV) is dedicated to recording previously conducted but unsettled transactions of securities not traded
The Angolan Government is taking decisive steps to criminalize illegal diamond mining, a practice involving an estimated 1.3 million “garimpeiros” (illegal diamond explorers), mostly foreigners. This move comes amidst concerns over the harmful impacts of illegal mining on the environment, public health, and national security. Presenting the proposal for a Law to Combat Illegal Mining Activity in parliament, Secretary of State for Mineral Resources, Jânio Correia Vitor, emphasized the need for more efficient mechanisms to
The Angolan government has raised concerns about illegal diamond exploration, highlighting the potential risk it poses to the commercialization of Angolan diamonds in Europe and America. The need to criminalize “garimpeiros” (artisanal miners) has been emphasized to address this issue. Jânio Correia Vitor, the Secretary of State for Mineral Resources, stressed the international association of illegal diamond mining with human rights violations, warning of potential repercussions on diamond sales abroad. He emphasized the importance of
The Secretary of State for Energy, Arlindo Carlos, announced that the Saurimo photovoltaic plant, located in Lunda-Sul, Angola, will commence operations later this month, providing a capacity of 26.13 megawatts of clean energy. Constructed on a sprawling 65-hectare site, the project is a collaboration between the South African company ‘Sun África’ and ‘MCA Angola’ and comes with a price tag of 38.839 million euros. It boasts a staggering array of 44,850 solar panels, poised to
Sociedade Mineira de Catoca (SMC) has unveiled ambitious plans for diamond production and investment in 2024, aiming to recover approximately 6.9 million carats while investing $69.282 million. Porfírio Soares, a company representative, shared these insights during the presentation of the company’s 2023 activities. The investment focus for 2024 includes enhancing prospecting activities to increase reserves, upgrading equipment fleets, and improving treatment centers to optimize work quality and reduce downtime. Furthermore, SMC anticipates commercial success, projecting
Lucapa announced Thursday the recovery of its recent diamond discovery, marking the fifth-largest find at the Lulo mine in its 12 years of operation. The miner retrieved the diamond from processing run-of-mine stockpiled ore already on site. This discovery also marks the third diamond weighing over 100 carats found by Lucapa this year alone. In the preceding month, the miner unearthed two type IIa stones, weighing 162.42 and 116.14 carats, respectively, on consecutive days. The
President His Highness Sheikh Mohamed bin Zayed Al Nahyan received His Excellency João Manuel Gonçalves Lourenço, President of the Republic of Angola. During the meeting at Qasr Al Bateen in Abu Dhabi, His Highness welcomed the visit of the President of Angola, who congratulated His Highness on the occasion of the holy month of Ramadan and expressed his wish for it to be a month of goodness, mercy, and peace for people around the world.
Sonangol has garnered expressions of interest from Chinese investors and financial institutions in support of the Lobito Refinery project, which received a significant boost in October 2020. This momentum came when the national oil company inked a contract with Chinese contractor CNEC, aiming to complete the construction by 2027. Chairman of Sonangol’s Board of Directors, Sebastião Gaspar Martins, unveiled these expressions of interest during his visit to China alongside President João Lourenço. Speaking on the
ACREP (Exploração Petrolífero SA), positioning itself as Angola’s second-largest private oil company with onshore operations, achieved a significant milestone with its recent public offering for sale (OPV) of shares on the stock exchange, securing a revenue exceeding 5.409 million kwanzas. The demand for shares reached 24.04 percent of the total supply, showcasing investor interest in the company. The Angolan Debt and Securities Exchange (Bodiva) announced the results of the OPV, revealing that 72,121 of the
