The construction of the Ornamental Rock Development Hub in Namibe province officially began on Tuesday with the laying of the first stone. The event was attended by the Secretary of State for Mineral Resources, Janio Correa Victor, and the provincial governor, Archer Mangueira, who jointly led the ceremony. The hub, set to create approximately 400 jobs, is being developed by Telhabel. According to a statement from the provincial government of Namibe, the project aims to
Angola’s Parliament unanimously approved a request this Wednesday for authorization to modify the oil concession for Block 14, which includes areas of joint exploration between Angola and the Democratic Republic of Congo (DRC). In his presentation, the Secretary of State for Oil and Gas, José Barroso, explained that the proposed changes involve detaching the Negaje and Menongue development areas from Block 14 for integration into the Block 14/23 concession. This adjustment will help redefine the
Ghana recorded a historic $5 billion trade surplus in 2024, bolstered by a sharp increase in gold exports, according to the Bank of Ghana. The surplus marked a significant jump from the $2.7 billion recorded in 2023, underscoring the country’s financial progress. Gold exports soared by more than 50% to $11.6 billion, solidifying the country’s reputation as a major gold producer. This strong trade performance is expected to provide much-needed stability to Ghana’s economy, which
Africa is set to begin constructing 41 green hydrogen projects by 2030, according to the Energy Industries Council (EIC), a global energy trade body. Despite the sector’s potential, it faces significant challenges, including securing buyers, developing regulatory frameworks, and building essential infrastructure. North African nations like Egypt, Algeria, and Morocco, with year-round sunshine, are well-positioned for investments in green hydrogen production and export facilities, as highlighted in the Africa OPEX report 2025. However, the report
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
The Antwerp World Diamond Centre (AWDC) has called on the Belgian government to improve the operating environment for the diamond industry, following what it described as a “crisis” year for the sector. Belgium’s total diamond import and export figures fell by 25% in 2023, driven by “significant economic factors” that impacted both domestic and global markets, the AWDC reported. “The diamond industry is facing a severe global crisis,” said Karen Rentmeesters, CEO of AWDC. “Internationally,
The European Union (EU) has expressed its interest in participating in the development of the Lobito Corridor, recognizing its potential for sustainable and inclusive economic diversification, including increased household income in the region. Sylvie Millot, Head of the EU’s Southern Africa and Indian Ocean Unit, confirmed this on Friday in Benguela, following a courtesy meeting with the provincial governor of Benguela. She emphasized that the Lobito Corridor is a key priority for the EU in
Members of the Angolan Industrial Association (AIA) have emphasized the importance of conducting a feasibility study for the construction of connection branches between key large-scale production centers and the Lobito Corridor. This initiative is seen as a priority to maximize the economic benefits of this significant infrastructure, which serves both the Angolan economy and the southern region of Africa. The message was conveyed by the president of the association, José Severino, who outlined the vast
Rwanda has confirmed its first-ever oil discovery, identifying 13 reservoirs in Lake Kivu, which lies along its border with the Democratic Republic of Congo (DRC). “We have oil,” announced Francis Kamanzi, CEO of the Rwanda Mines, Petroleum, and Gas Board, during a parliamentary hearing, as reported by local media outlet Igihe. The discovery follows more than a decade of exploration efforts in the lake. Kamanzi expressed optimism about uncovering additional reserves, noting the significant oil
Botswana has renewed two prospecting licences held by London-listed Botswana Diamonds—licence numbers 224/2007 and 169/2019—for an additional two years, extending their validity to December 31, 2026. The licences cover the KX36 kimberlite discovery and several high-grade geophysical anomalies, with authorisation granted for drilling. KX36, a 3.5-hectare kimberlite pipe, boasts an indicated resource of 17.9 million tonnes at a grade of 35 carats per hundred tonnes (cpht) and an inferred resource of 6.7 million tonnes at
