Pensana’s Longonjo Mine 22% Complete as Angola Rare Earth Project Targets 2027 Startup and Global Supply Chain Role London-listed Pensana is making steady progress on its $250 million Longonjo rare earth project in Angola, which remains on schedule and within budget for first mixed rare earth carbonate (MREC) production in 2027. The project is expected to operate over a 20-year mine life, initially producing 20,000 tonnes per year of MREC, with planned expansion to 40,000
Angola Launches $750M Eurobond Buyback and Issues New Bonds to Extend Debt Maturities to 2031–2037 Angola has announced the results of its tender offer for its 2028 and 2029 Eurobonds, confirming plans to repurchase part of its outstanding debt while issuing new longer-dated bonds to ease near-term fiscal pressures. Under the transaction, the government will pay bondholders approximately $750 million to buy back portions of its external debt. The Southern African oil producer had invited
247MW Kalungwishi Hydropower Project Gains Strong Traditional Leadership Support, Set to Transform Luapula and Northern Provinces A major milestone in Zambia’s energy and industrial development agenda is taking shape as the 247-megawatt Kalungwishi Hydropower Project gains renewed momentum, with strong backing from government, the private sector, and traditional leaders whose communities are expected to benefit from the transformative investment. Located along the Kalungwishi River, the project is expected to become a catalyst for economic growth
South Africa Faces Higher Fuel Costs as Oil Prices Surge and Government Scales Back Relief Measures South Africa is set to face higher fuel costs as global oil prices climb above $100 per barrel and government support measures are scaled back, increasing pressure on households and businesses in the country’s already strained economy. From June 3, petrol prices will rise by R1.43 per litre, according to the Department of Mineral and Petroleum Resources (DMPR). The
Certification, Compliance and Infrastructure Key for Namibian Suppliers Seeking Oil and Gas Contracts Namibian businesses seeking to participate in the country’s emerging oil and gas industry must address gaps in certification, infrastructure and governance if they are to secure contracts as the sector moves closer to large-scale development. The message emerged during the Upstream Oil and Gas Local Suppliers Workshop hosted by Petrofund, where international service providers outlined the key requirements, local companies must meet
Impact Oil & Gas Restructures Portfolio, Separating South African Assets to Focus on Namibia’s Venus Project Impact Oil & Gas has agreed to restructure its business by separating its South African and Namibian assets into distinct corporate entities, in a move aimed at streamlining operations and strengthening its investment focus on offshore development projects. The company has signed a share purchase agreement with IOG Energies, a wholly owned subsidiary of Deepkloof and Impact Oil &
DRC Approves ADEX RDC SA Joint Venture to Boost Diamond Processing and Local Value Addition The Democratic Republic of Congo (DRC) has approved the creation of ADEX RDC SA, a new joint venture aimed at modernizing and strengthening the country’s diamond sector through increased local value addition. The decision was taken during the 91st ordinary meeting of the Council of Ministers held on Friday, May 29, 2026, in Kinshasa. The proposal was presented by the
Angola to Launch First Gold Refinery by End of 2025 as Government Expands Mineral Value Addition Strategy Angola is expected to inaugurate its first gold refinery before the end of the year, marking a significant milestone in the country’s efforts to increase local mineral processing and create greater value from its natural resources. The announcement was made by Minister of Mineral Resources, Petroleum and Gas Diamantino Azevedo during the opening of the Angola Oil, Gas
Renewable Energy Powers 70% of Angola’s Electricity Consumption, Government Says Renewable energy sources currently account for approximately 70 percent of Angola’s electricity consumption, with hydropower contributing more than 60 percent of the country’s energy mix, Minister of State for Economic Coordination José de Lima Massano announced on Thursday in Luanda. Massano made the remarks during the opening session of the 2nd International Conference on Energy and Water, which runs until Friday in the Angolan capital.
Angola and DRC Plan 1,450km Power Transmission Network to Deliver Over 2,000MW of Electricity Angola and the Democratic Republic of Congo (DRC) are set to deepen their energy cooperation through the development of two major electricity transmission lines spanning more than 1,400 kilometers, according to DRC Minister of Water Resources and Electricity, Teddy Molendo Sakombi. Speaking in Luanda on Thursday after meeting Angolan President João Lourenço, Sakombi revealed plans for two cross-border power transmission projects.
