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Transport and Logistics Local News

Benguela Railway to Restore Regular Train Services by November 2024

The Benguela Railway (CFB) has announced plans to resume regular train services between October and November 2024, addressing current limitations on seating capacity caused by technical issues. In a statement issued to Jornal de Angola, CFB apologized for the disruptions affecting daily rail transport for users in the provinces of Huambo, Moxico, Bié, and Lundas Norte and Sul. The reduction in seating has significantly impacted communities along the railway line connecting Benguela province to Luau

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Local Corporate News Gas Iron Oil Partnerships

Sonangol Partners with Tosyali to Advance Kassinga Iron and Steel Project

Sonangol and the Tosyali Group reached an agreement on Monday to enhance the strategic Kassinga iron and steel project. The agreement, finalized during the Angolan Minister of Mineral Resources, Oil, and Gas’s visit to Turkey, includes integrating Angola’s national oil company, Sonangol, into the new corporate structure of Tosyali Iron & Steel Angola SA. Fuat Tosyali, President of the Turkish holding company, praised the move as a clear demonstration of Angola’s commitment to the project.

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News Diamonds Local

Luele Diamond Mine Produces 1.8 Million Carats in First Half of the Year

Sociedade Mineira do Luele in Lunda-Norte achieved a production milestone of 1.8 million carats in the first half of this year, securing the administration’s confidence and maintaining over 1,800 jobs. The president of the company’s Board of Directors, Rómulo Mucase, shared this information in Dundo, noting that the production figures represent 94% of the projected 1.9 million carats for the period. He emphasized that this achievement is particularly impressive given the mine’s short operational history,

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Diamonds Local News

Endiama Intervenes to Stabilize Angola’s Struggling Diamond Mines

The National Diamond Company of Angola (Endiama) is implementing measures to stabilize the financial situation of the Lunhinga and Luminas mining companies in Lunda-Norte, both of which are facing significant challenges due to market pressures and high operating costs. Laureano Paulo, Endiama’s Executive Administrator for Mining Operations, Participation Management, Audit, and Quality Control, shared this information during a press briefing on Wednesday, following the Diamond Production Balance Workshop for the first half of the year.

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Local Gas News Oil

Kwame Oil & Gas to Launch New Operational Bases in Luanda

Kwame Oil & Gas, a company in the oil sector, announced the upcoming launch of two operational bases in Luanda for metal structure repairs and oil tank cleaning, with a total investment of $150,000. According to Aurélio dos Santos, the company’s general director, the new facilities are located in the Mundo neighborhood of Benfica and are set to begin operations in September. The project, which was first announced in May, includes the construction of two

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Local Economy Transport and Logistics

The Strategic Importance of the Lobito Corridor for Angola’s Economic Growth

The efficient operation of the Lobito Corridor is poised to significantly boost Angola’s economy by accelerating the export of ornamental rocks from the southern region to global markets, according to economist and researcher Agostinho Mateus from the Technical and Economic Research Center of the Lusíada University of Angola (CINVESTEC). Mateus emphasized the Lobito Corridor as a “strategic infrastructure” crucial for Angola’s economic development. He highlighted its role in facilitating international trade, driving regional economic growth,

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Local News Oil Petroleum

Angola’s Fuel Sales Increase in Q2 Despite Drop in Imports

Angola’s fuel sales volume in the second quarter reached 1.22 million metric tons, marking a 3% increase compared to the previous quarter, according to the Petroleum Derivatives Regulatory Institute (IRDP). The report, released yesterday, highlights that state-owned Sonangol continues to dominate the market with a 62.3% share, followed by Puma Energy (21.9%). The remaining 15.8% is divided among Sonangalp (7.2%), Total Energies Marketing Angola (6.6%), and Etu Energias (1.7%). The data shows a significant 38%

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Diamonds Local News

Angolan Diamond Sales Fall Below Expectations

Diamond sales in Angola have recently dropped to less than 55% of the expected average price, according to Laureano Paulo, the Executive Administrator for Mining Operations at the National Diamond Company of Angola (ENDIAMA). Speaking at a semi-annual review workshop in Dundo, Lunda-Norte province, Paulo highlighted the challenges facing the diamond sub-sector, noting that current market conditions are far from satisfactory. “Sales today are falling between 30% and 55% below the planned price. For example,

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News Local Oil

Sonangol Breaks Ground on New Cabinda Headquarters to Boost Efficiency and Local Employment

The foundation stone for Sonangol’s new headquarters in Cabinda was laid yesterday, marking a significant step towards improving the company’s operational efficiency and creating employment opportunities for local residents. This milestone was highlighted by Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who emphasized that the new facility will not only provide better working conditions for employees but also streamline various company functions under one roof. The upcoming building, which will accommodate around 100

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Local News

Angola’s Hydrocarbons and Mining Sectors Drive Economic Growth and Diversification

The Hydrocarbons and Mining sectors are pivotal for Angola’s economic development and diversification, emphasized Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during a presentation in Luanda. Speaking at the 1st edition of Conversas-Economia-100 Makas, themed “The Future of Oil, Gas, and Critical Minerals,” Azevedo outlined the ministry’s strategic program for 2023-2027. Azevedo noted that the Oil sector accounted for 93.66% of Angola’s global exports this year, while mining contributed 4.65%. Together, hydrocarbons represented

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