Angolan Minister Diamantino Azevedo Visits China to Secure Oil, Gas and Mining Investments and Advance Strategic Energy Projects Diamantino Azevedo has begun a working visit to China aimed at strengthening strategic cooperation and attracting new investment into Angola’s energy and mining sectors. According to a statement sent to ANGOP, the minister met on Monday (13) with Zhou Haibing, where both sides discussed ways to deepen economic cooperation in oil, gas, and mineral resources. The two
Angola Secures $165M Investment for Longonjo Rare Earth Project, Boosting Africa’s Strategic Supply Chain Mining company Pensana has secured a $165 million strategic equity investment from rare earth-focused investment platform Cascade Natural Resources to accelerate its Longonjo rare earth project in Angola. This funding unlocks a complementary $160 million debt package supported by the U.S. Export-Import Bank (EXIM), positioning the project on track for its 2027 production target and enabling a broader capital plan exceeding
Cascade Natural Resources Raises Pensana Investment to $165M to Support Angola’s Longonjo Rare Earths Mine Global rare earths investment platform Cascade Natural Resources has increased its strategic investment in London-listed Pensana to $165 million, strengthening support for the company’s US-focused mine-to-magnet supply chain strategy. Cascade had initially committed $100 million, but the revised agreement expands the investment to accelerate development of key rare earth assets, particularly the Longonjo Rare Earths Project in Angola. Under the
MIREMPET Evaluates Solid Minerals and Hydrocarbon Potential in Icolo & Bengo Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) on Monday reviewed the mineral, oil and gas potential of Icolo e Bengo during a high-level meeting with provincial officials and sector technicians. The session, led by Minister Diamantino Azevedo, focused on assessing ongoing activities in the province and identifying mechanisms to strengthen institutional coordination, regulatory oversight and sector development. According to the minister, as one
Angola’s Sonangol Plans Diversification into Critical Minerals Following 2025 Profit Decline Sonangol, Angola’s state-owned oil giant, announced on Wednesday plans to diversify into critical minerals, even as it reported a slight decline in net profit for 2025. Executives revealed that Sonangol posted net earnings of over $750 million in 2025, down from roughly 736 billion kwanzas in 2024 equivalent to about $807 million at current exchange rates. The conglomerate, which holds stakes in multiple offshore
Angola Expects BHP Reinvestment as Mining Reforms Boost Foreign Investor Confidence Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, said he expects BHP Group to reinvest in the country, citing growing foreign interest driven by sector reforms. In an Interview, Azevedo noted that BHP Australia’s largest mining company has expressed strong interest in returning to Angola nearly two decades after exiting the market. Reform-Driven Investment Appeal During engagements with Australian investors at the
Botswana Expands Mining Exploration Strategy to Reduce Diamond Dependence and Target Critical Minerals Botswana is preparing to significantly increase mining exploration activity including the search for critical minerals as it moves to reduce its long-standing dependence on diamonds. Mines Minister Bogolo Joy Kenewendo announced on Tuesday that the government plans to survey the approximately 70% of the country’s territory that remains geologically unexplored. The Southern African nation, widely regarded as one of Africa’s most stable
Power Metal Resources Secures Environmental Approval and Prepares for Drilling at Tati Gold Project in Botswana AIM-listed Power Metal Resources, together with its option partner Tuscan Holding and its in-country operations team, has completed critical preparatory work for the next phase of activity at the company’s 100%-owned Tati Gold Project. The project is located on the highly prospective Tati Greenstone Belt near Francistown, Botswana. The progress follows the share option agreement entered into with Tuscan
Botswana Diamonds Enters Copper and Gold Exploration with 7,000 km² of New Licences in Botswana AIM- and BSE-listed Botswana Diamonds has announced the award of eight prospecting licences covering approximately 7,000 km² in north-western Botswana, marking a potential entry into the copper and gold sectors. The licences, which are valid until December 31, 2028, were selected following an extensive AI-driven assessment of the company’s Botswana-focused exploration database, which spans about 95,000 km². The analysis incorporated
Pensana Launches 7 000 m Infill Drill Programme at Longonjo Rare Earths Project in Angola London-listed Pensana has commenced preparations for a 7 000 m infill drilling programme at its Longonjo rare earths project in Angola, marking another step toward mine development. The drilling programme is designed to deliver detailed geological and grade control data ahead of the planned start of mining and stockpiling or blending activities in early 2027. It will run in parallel
