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Local Exploration News Oil

Azule Energy Secures Stake in Namibian Oil Exploration Venture

Azule Energy, an Angolan company, and Rhino Resources Namibia have inked a significant agreement (Farm-In) granting Azule Energy a 42.5 percent interest in the exploration of Block 2914 A. This block lies within Namibia’s Orange basin, where major oil discoveries have been made since 2022. Currently, Rhino operates the venture with an 85 percent stake, alongside Namcor Exploration and Production (Proprietary) Limited (10%) and Namibian company Korres Investments (Pty) Ltd (5%). The agreement outlines a

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Local News

ENDE Enhances Electricity Supply Quality in Lobito

The National Electricity Distribution Company (ENDE) has significantly upgraded the quality and reliability of electricity supply in Lobito city, according to Gelson Pinto, Director of Exploration and Maintenance for the Central Region of ENDE. Pinto announced the deactivation of an old electrical substation, in operation for 58 years, which utilized outdated equipment. It has been replaced with modernized facilities to enhance service efficiency and security. The investment in updated equipment is expected to enhance redundancy,

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Diamonds Local News

Sociedade Mineira Yetwene Plans Diamond Production Surge in Lucapa

Sociedade Mineira Yetwene (SMY), situated in Lucapa municipality, Lunda-Norte province, aims to quadruple its monthly diamond production from three thousand to 13 thousand carats this year by introducing new treatment facilities. Vánia Ferreira, SMY’s advisor for Mining Development, disclosed this information recently, stating that the installation of four pre-treatment units with capacities ranging from 100 to 250 tons per hour is currently underway. This expansion will elevate the ore treatment capacity from 100 to 450

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Diamonds Local News

Lucapa’s Trio of Diamonds Fetches $10.5 Million in Angola

Australian mining company Lucapa has successfully sold three diamonds from the Lulo alluvial mine in Lunda Norte, Angola, fetching a total of $10.5 million. Facilitated by Angola’s state-owned diamond trading company Sodiam, the sale comprised a trio of diamonds totaling 361 carats, with an impressive average price of $29,000 per carat. Among the diamonds were one weighing 203 carats, another weighing 116 carats, and a third weighing 42 carats. Notably, the largest of the three

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Local News Oil

China’s CNOOC Eyes Oil Investment Opportunities in Angola

China National Offshore Oil Corporation (CNOOC) is dispatching a delegation of senior executives to Angola to explore investment prospects in oil exploration, aligning with Angola’s goal of ramping up production to 1.18 million barrels per day (bpd). Despite a recent decline in exports, China is keen on enhancing investment in Angola’s exploration and production sector, reaffirming the long-standing energy ties between the two nations. Angola, a major oil supplier to China in sub-Saharan Africa, has

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Local Governance News

President Lourenco Explores Business Opportunities in South Korea

The President of the Republic embarked on a two-day journey to South Korea this Monday, delving into discussions about business prospects in Angola, particularly focusing on the abundance of strategic minerals coveted by the Korean electronics industry. During his visit to the Korean parliament, João Lourenço engaged in dialogues with Kim Jin-pyo, the president of the National Assembly, regarding the challenges of industrialization. He emphasized a range of resources pivotal to bilateral relations, notably the

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Local News Oil Petroleum

Government’s First Quarter Fuel Expenditure Drops by 21%

In the first quarter, the government’s expenditure on fuel procurement decreased by 21%, totaling US$769 million, according to the head of the sector. Luis Fernandes, Director-General of the Petroleum Derivatives Regulatory Institute (IRD), provided detailed insights, revealing that 1.2 million metric tons of fuel were purchased during this period. Diesel accounted for 51.3% of the purchased fuel, followed by gasoline at 35.5%, fuel oil at 7.7%, JET A1 (aircraft fuel) at 4.5%, illuminating oil at

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Diamonds Local News

Furi Mining Company Sets Ambitious Diamond Production Target for 2025

Furi Mining Company is setting its sights on a diamond production goal of approximately 24,000 carats by 2025, announced Eduardo Dico, the Deputy Director of Mining Operations, during the celebration of Mining Workers’ Day on April 27. Established in 2021, the mine operates within the concession areas of Cambulo and Chitato in the Lunda Norte province. Currently, it yields around 14,000 carats of diamonds monthly and employs a workforce of 772 national workers alongside four

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News Local

Board of Directors of the Industrial Projects Institute takes office

he Board of Directors of the Institute of Industrial Projects is already in place. The act of taking office was led by the Chairman of the Board of Directors of ENDIAMA- EP, Ganga Júnior, at a ceremony held on Wednesday 17th in Catoca Village, Saurimo- Lunda Sul province. On the occasion, Ganga Júnior considered the creation of INPROITEC to be a great achievement for the Angolan mining sector. “The aim is to have the mining

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Local News

Mineworkers’ Day Commences with Historical Insights

The technical-scientific conference on Mining Workers’ Day, observed on April 27, commenced with a round table discussion focusing on the theme “History of Leadership in the Mining Sector.” Esteemed speakers, including industry leaders like Ganga Júnior, Paulino Neto, Eugénio Bravo da Rosa, and Jacinto Rocha, shared pivotal moments from their extensive careers spanning over 40 years in the sector. The event, attended by students and professionals, was organized under the guidance of Secretary of State

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