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Category: Mining Projects

Local Mining Projects News

UK Ambassador Visits Longonjo as Pensana Prepares for Construction

Following the approval of a $268 million financing package, newly appointed UK Ambassador to Angola, Bharat Joshi, visited the Longonjo site to assess progress ahead of construction. Accompanied by Country Manager Geraldine Tchimbali, local Huambo authorities, community leaders, and the press, the ambassador observed site preparations for the Pensana rare earths project. Joshi emphasized the global significance of Longonjo, stating, “Longonjo might seem like a small village in the heart of Angola, but for the

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Local Mining Projects News

Angola to Begin Niobium Production in 2025 Amid Infrastructure Challenges

Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, has announced that niobium production will begin this year in Quilengues, Huila. The long-awaited project is expected to commence once electricity supply issues at the site are resolved. “If everything proceeds as planned, production activities will begin this year in the first phase, with future expansion planned,” Azevedo stated during a meeting with Niobonga, the Chinese company overseeing production. He emphasized the project’s significance, noting

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Corporate News Local Mining Projects

Pensana Secures Full Financing for Angola’s Longonjo Rare Earth Project

London-listed Pensana has secured full financing of $268 million for the development of its Longonjo rare earth project in Angola, marking a significant step forward for the global magnet metal supply chain. The Africa Finance Corporation (AFC) has approved a $81.2 million contribution to a $160 million syndicated loan facility, alongside South Africa’s Absa Bank. This facility will cover 60% of Phase 1 funding, subject to final loan documentation and conditions precedent. The remaining funding

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Corporate News International Mining Projects

Botswana Diamonds Expands Exploration with 11 New Prospecting Licences

AIM-listed Botswana Diamonds has applied for 11 prospecting licences in Botswana, targeting copper, silver, cobalt, gold, nickel, zinc, and platinum group metals. This move follows the company’s AI-driven exploration programme, which initially focused on diamonds but uncovered hidden polymetallic deposits across the country. The nationwide AI exploration initiative began with a focus on diamonds. However, during data analysis, it became evident that the technology could also identify undiscovered polymetallic targets. “Our analysis has revealed a

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Local Exploration Mining Projects

Angola Expands Critical Minerals Exploration and Production

Angola has identified 34 of the 54 critical minerals recognized by the European Union and is intensifying exploration, production, and downstream projects to unlock its mining potential. The government is actively promoting investment across the critical mineral value chain to drive economic diversification and boost revenue from the sector. Several mining projects are progressing across Angola. In January 2025, UK-based Pensana secured funding from South Africa’s Absa Bank to accelerate the development of the Longonjo

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Partnerships Local Mining Projects News

Venezuela and Angola Strengthen Bilateral Cooperation in Energy and Mining

Venezuela and Angola have reaffirmed their commitment to enhancing cooperation in energy and mining, as announced by Venezuelan Foreign Minister Yván Gil. The announcement followed a telephone conversation between Gil and Angolan Foreign Minister Tete António on Friday. In his statement on Instagram, Gil congratulated Angola for assuming the Presidency of the African Union, acknowledging this achievement in the year marking the 50th anniversary of Angola’s independence. He also emphasized that both nations are working

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Corporate News Local Mining Projects

Minbos Secures Second Tranche of Funding for Cabinda Phosphate Project

Minbos Resources has received the second tranche of funding for the Cabinda Phosphate Fertilizer Project in Angola, securing $2.43 million from the Fundo Soberano de Angola. The final $1.17 million tranche will be disbursed upon completion of project insurance renewals and supplier quotations. Located in Cabinda Province, the project involves open-pit mining and fertilizer production, with an estimated 20-year mine life. Proven and probable reserves stand at 4.72 million tons. Minbos Resources, which holds an

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Corporate News Local Mining Projects

Pensana Champions Sustainable Rare Earth Mining in Angola

London-listed rare earths miner Pensana is committed to environmentally sustainable and socially responsible mining, says Chairperson Paul Atherley. Speaking to BBC Radio 4, he emphasized that mining can uplift communities without harming local ecosystems. “Africa should benefit from its resources without destroying local environments or the fabric of society,” Atherley stated, affirming Pensana’s adherence to high international standards in Angola and the UK. Pensana minimizes environmental impact by using hydroelectric power and limiting mining depth

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Corporate News International Mining Projects

Golden Deeps Begins New Diamond Drilling Program to Expand Nosib Copper-Silver Deposit in Namibia

Golden Deeps has initiated a new diamond drilling program targeting the Nosib copper-silver deposit on its Otavi Mountain Land tenements in northern Namibia. The Nosib deposit, initially defined in June 2024, features a significant zone of copper-vanadium-lead-silver oxide and supergene mineralization from surface levels. As drilling extends deeper and further west, the deposit transitions into a primary copper-silver stratabound sulphide zone, hosted by the Nosib Formation clastic sediments—an uncommon geological setting in a region known

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Local Mining Projects News

Absa Bank Backs $160 Million Loan for Pensana’s Angola Rare Earths Project

Pan-African lender Absa Bank, through its Corporate and Investment Banking division, has conditionally approved a credit term sheet for a 50% participation in a $160-million syndicated loan facility for London-listed Pensana’s Longonjo rare earths project in Angola. The approval is subject to the conclusion of definitive loan documentation, fulfilment of specified conditions, and obtaining political and commercial risk insurance from a reputable insurer for Absa’s exposure under the facility. The loan will provide senior funding

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