Brent oil (a benchmark for Angolan exports) for delivery in April started the week’s session, this Monday, February with a drop of 0.61 percent, standing at US$85.86 a barrel. On Friday 10th February (end of session), Brent for April was traded on the Intercontinental Exchange (ICE) up 2.24 percent ($1.89), at $86.39 a barrel. In turn, WTI oil, a benchmark in the United States of America, fell by 0.68 percent yesterday 13th Feb to US$79.19. Globally, oil
Angola’s minister of Mineral Resources, Oil and Gas Diamantino de Azevedo said Tuesday 7th Feb in Cape Town, South Africa, that the country is in the process of having a stronger mining industry, which could contribute to the diversification of the country’s economy. The minister said so after addressing a topic on “Critical Minerals for Energy Transition”, a lecture addressed to several players in the mining market at the International Conference on Mining in Africa,
The photovoltaic plant, which has been installed in Lucapa Municipality of the north-eastern Lunda Norte Province, since 2021, will start producing power in the first quarter of 2024. The solar power plant is 61% complete, whereby in relation to mechanical assembly, with installation of the solar panels and support structures that include civil engineering, it is over 90% complete. So far, out of the 12,090 solar panels, approximately 11.000 have already been installed, with the
The Yetwene Mining Project plans to produce 3000 carats a month. The forecast is based on theproject’s indicators, which indicate that with the start of exploration, conjectured for the currenteconomic year, production will be positioned, in a first phase, at 3000 carats of diamonds per month According to Pedro Domingos, acting director of Mining Operations for the project located in the Camissombo commune, Lucapa municipality, Lunda Norte province the ressessment activities of the reserves, following
The Competition Regulatory Authority (ARC) registered, in the four-year period 2019-2022, a total of 10 notified merger operations between companies in the oil sector, which corresponds to 24 percent. The data were advanced by the administrator of ARC, Nelson Lembe, at the methodological seminar on merger operations between companies in the oil sector. “There is a need to achieve a more competitive and fair business environment, capable of attracting good investments, which is why Competition
Currently, in Angola, 36 of the 51 minerals considered the most critical in the world are known, some of which are about to go into production. The list will be revised, if necessary, every five years, in consultation with mining industry experts. According to the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, at the opening of the Investment Forum, on the sidelines of Mining Indaba 2023, the country has an enormous mining potential
Brent negotiations, a benchmark for Angolan oil exports, opened higher on Monday in the international market, standing at US$80.73 per barrel at the time of writing, registering a daily variation of 79.65 to 81.24 , up to the time of the survey. Despite Brent falling 10 percent last week to $80 a barrel, China’s demand prospects remain strong despite the commodity’s recent decline, experts say. Goldman Sachs bank raised its China demand forecast to 16.0
The general director of the Catoca mining Society, Benedito Manuel, said on Tuesday 7th February in Cape Town that the fourth largest mine in the world has managed to maintain positive revenue indicators, despite facing difficulties in the logistics chain offered by the country. Speaking to the press on the sidelines of the International Conference on Mining in Africa, Benedito Manuel reassured potential businessmen who intend to invest in the country, encouraging them to enter
12 projects were licensed for the production and export of gold, but only 5 started. At a time when the 1st stone was laid for the construction of a refinery. Seven of the 12 projects licensed for the production and export of gold in Angola have not started activity, reveal data from the Ministry of Mineral Resources, Oil and Gas (MIREMPET) released at the time of laying the foundation stone for the construction of the first
Angola represents one of the richest mineral markets in the world, with sizeable gold, diamond, iron ore and rare earth minerals leading to the development of large-scale mining operations across key basins. At the forefront of the country’s mineral wealth is the diamond sector, with the $1.2 billion industry positioning Angola as the fourth largest producer globally and the second largest in Africa. Now, with ambitions to further diversify the economy on the back of
