Angola is eyeing a promising potential of 52 billion cubic feet of natural gas, as revealed by Américo Fernandes, head of the national Oil and Gas agency during the Angola Oil & Gas conference. While these figures represent a substantial opportunity, Fernandes also pointed out some challenges facing the sector’s development in Angola. The lack of infrastructure, which hinders market access and increases the cost of investment and capital accessibility, stands as a notable obstacle.
Lucapa Diamond Company Limited (ASX:LOM) (“Lucapa” or the “Company”) and its Lulo Alluvial Diamond Mine partners, Endiama and Rosas & Petalas are pleased to announce the results of the recent exceptional stone tender which attracted US$15.7 million (A$24.5 million) for seven Lulo diamonds.A total of 534.9 carats were sold by tender achieving an average price per carat of US$29,401. The tender was conducted by Sodiam E.P. in Luanda, Angola.Of the seven exceptional diamonds sold in
Sonangol has announced that it is taking actions to stabilize the fuel distribution market in a statement sent to the newsrooms on Thursday, following reports of supply difficulties in the southern region of the country. The days of supply difficulties in the southern region of the country are numbered. Actions are currently underway to gradually stabilize the market and return to normal global service conditions in the coming days, the statement reads, in which Sonangol
Angola, a country blessed with abundant oil reserves, has long relied on the black gold to fuel its economy and provide the government with much-needed revenue. However, Finance Minister Vera Daves has recently issued a stern warning: oil will run out one day, and Angola must be prepared for that eventuality. In a bold statement, Minister Daves has highlighted the urgency of diversifying the nation’s economy and investing in sustainable alternatives to ensure a stable
Diamond miner Lucapa Diamond Company has announced revenues of A$15.7 million from the sale of seven exceptional diamonds from its Lulo operation, in Angola. The company sold 534.9 carats by tender, achieving an average price of $29,401 per carat. Of the seven diamonds sold during the tender, the 180-carat Type II white diamond recovered in June this year, and a 66-carat pink diamond, attracted the highest prices per tonne. “This tender demonstrates that the weakness
The National Diamond Trading Company of Angola (SODIAM) announced that it raised 22 million dollars from the auction sale of 1,329.89 carats of rough diamonds on Thursday, October 12, 2023. This was the 7th diamond auction held in Luanda and included special stones from mining companies such as Lulo, Kaixepa, Somiluana, Catoca, and Luele, according to a statement from Sodiam sent to Lusa. The most valuable diamonds came from the Lulo mine and yielded nearly
Angola may slow the removal of fuel subsidies to avoid a repeat of protests in June over a near-doubling in petrol prices in which at least five people were killed, the southern African country’s finance minister said on Monday. No decision has been made yet in ongoing internal discussions on whether to extend the end-2025 deadline for phasing out the subsidies, Vera Daves de Sousa told Reuters in an interview on the sidelines of the
Endiama, the national diamond company, will use TECH-Minas, an unprecedented tool created in Angola, to monitor mining activity and the “alarming” problem of mining, announced the president of the company’s board of directors. Jose Ganga Júnior stated that TECH-Minas facilitates the monitoring and surveillance of mining activities, performance levels, as well as security issues in the areas. “The mining industry, which presents alarming environmental problems and ecological disasters, can be observed from our office almost
The Chairman of the Board of Directors of Endiama, a state-owned diamond company, expressed grave concerns regarding diamond mining activities in concession areas within the Lunda Norte province. These concerns primarily stem from alleged complicity among certain authorities. Jose Gange Júnior voiced his apprehensions during the biannual review session on diamond production, currently underway for three days in Dundo, the capital of Lunda Norte. According to the official, the situation is particularly troubling in the
The Minister of Mineral Resources, Petroleum, and Gas (MIREMPET) made an appeal yesterday for a concerted effort to combat the promotion campaign of the commercial value of synthetic diamonds over natural ones in the international market, conducted by institutions interested in influencing market prices. Edições Novembro Diamantino Azevedo spoke to the media on the sidelines of the meeting of the Ad-Hoc Committee for the Review and Reform of the Kimberley Process Certification System, which concludes
