The Tetelo Copper mine, situated in the Mavoyo region of Maquela do Zombo, Uíge province, is entering its final stages of implementation, with production expected to commence within six months, according to Marcelino Ferreira, director of the Uíge Provincial Office of Integrated Economic Development. Speaking to Rádio Nacional de Angola, Ferreira revealed that the Sociedade Mineira de Cobre de Angola aims to achieve an initial daily production of up to eight thousand tons of copper,
Angola will showcase business opportunities at the Mines, Oil, and Gas Conference in Beijing on Saturday, the 16th, coinciding with President João Lourenço’s visit to China. The National Oil and Gas Agency (ANPG) will present oil block offerings and onshore block development infrastructure, while the Petroleum Derivatives Regulatory Institute (IRDP) will discuss downstream investment opportunities. Sonangol, Angola’s public hydrocarbons company, will highlight opportunities in upstream exploration and production, midstream projects like the Lobito refinery, and
Several international companies have submitted proposals to the government for the concession of management rights for the “Dr. António Agostinho Neto” International Airport (AIAAN). In recent days, these companies have conducted prospecting visits to assess the infrastructure’s potential and business opportunities. According to the Ministry of Transport, four European and American companies with expertise in airport management have acquired the specifications for the concession tender. They have also conducted technical visits to the airport to
Angolan companies represent a mere 2% of oil contracts, amounting to $18.2 billion annually, while foreign companies dominate the sector with 98%, according to Berta Issa, the new president of the Association of Indigenous Companies for the Angolan Oil Industry (ASSEA), as reported by Angop. Issa highlighted the challenges faced by local companies, including the lack of implementation of methodologies for measuring local content, absence of payment instructions allowing transactions in both local currency and
Etu Energias has set a target to cover 25 percent of internal lubricant consumption by establishing a factory capable of producing over 12 thousand metric tons of refined products annually. This initiative, resulting from a partnership between the national oil company and Glide Technology, aims to decrease the reliance on imported petroleum derivatives. Edson dos Santos, president of the Board of Management (PCA) of Etu Energias, stated that the long-term goal is to produce more
The Guinean government confirmed Angola’s withdrawal from the bauxite exploration project in eastern Guinea-Bissau, as announced by Minister of Natural Resources Malam Sambú in an interview last week. According to Sambú, the bauxite exploration license is now available as Angola lacked the economic means to continue the project, leaving it abandoned. Guinea-Bissau’s geological studies suggest over 113 million tons of bauxite in the historic town of Boé, a significant source of aluminum. The exploration license
Lucapa Diamond Company Limited (ASX:LOM) in collaboration with its Angolan partners Endiama and Rosas and Petalas, has announced the discovery of two significant diamonds in February at the Lulo Mine. Both remarkable finds, weighing over 100 carats each, were unearthed from the terraces of Mining Block 46. Among them is a 116-carat type IIa diamond, known for its exceptional quality, which will be showcased in a future tender along with other high-value type IIa diamonds
The deadline for selling 37.47% of the shares in the Angolan oil exploration company, ACREP, via the Angolan Debt and Stock Exchange (BODIVA), has been extended until 3pm on the 15th of this month, a decision ratified by the Capital Market Commission (CMC). Initially, interested parties and investors could purchase shares between February 19th and March 1st, 2024. However, the extension is attributed to various factors, including the surge in requests for account openings towards
The Executive Board of the International Monetary Fund confirmed that 2023 was a difficult year with many challenges, but that the foundations for recovery in 2024 and contributions from 2025 have been laid. The Executive Board of the International Monetary Fund (IMF) expects economic growth in Angola to recover in the short term. This scenario will result in improved oil production and the recovery of the non-oil sector. The information is contained in the final
Angola has set a target of 60% access to electricity by 2025 under the strategic plan ‘Visao 2025,’ of which solar is poised to play a central role. Supporting electrification as well as diversification, solar projects are being rolled out by the government alongside international partners and project developers. Masdar to Build 150 MW Solar Project An agreement for the development of a 150 MW solar plant was signed between Angola’s Ministry of Energy and
