Kibali, the largest gold mine in Africa, has become one of the continent’s greenest and most impressively automated operations. It continues to drive local economic development and provides ongoing funding for the reintroduction of white rhinos into a UNESCO World Heritage site in the Democratic Republic of Congo (DRC). On the clean energy front, the majority of the electricity powering Kibali is already sourced from its three hydropower stations. Once Kibali’s new 16 MW solar
U.S. Secretary of State Antony Blinken commended Angola for the advancement of the Lobito Corridor – a strategic infrastructure project connecting the Central African copperbelt region to Angola’s Port of Lobito. During a visit to the country, Blinken highlighted that the corridor’s expansion would not only secure critical minerals supply chains for the U.S. but also stimulate investments in telecommunications, agriculture, and other sectors across Africa. He remarked that he “had a chance to see
Australian mining company Paladin Energy has resumed production at the Langer Heinrich Uranium mine in Namibia. First ore has been fed into the mine’s processing plant, with the full restart of operations 93% complete. The company aims to achieve commercial production by the end of Q1 2024. The project is supported by $150 million in debt funding secured by Paladin Energy from financial institutions Nedbank and Macquarie Bank. The $150 million syndicated debt facility will
Construction engineering company, Mecwide, has completed construction of a gas reception and distribution unit for the Falcão 2 Project in Zaire Province, Angola. With a price-tag of $46 million, the unit will handle approximately 50 million cubic feet of gas per day. Announced on 23 January, the gas reception and distribution unit serves as Mecwide’s largest project in Angola. Development activities for the project included detailed engineering, procurement of piping and equipment, pre-fabrication and assembly,
The Floating Storage and Offloading Unit (FPSO) Kaombo Sul by TotalEnergies, located in Block 32 of the national offshore, has reached the milestone of 200 million barrels of oil produced since its commencement of operations in April 2019. The Kaombo project consists of 6 fields spread over an area of 800 square kilometers. According to a document from the institution accessed by the Jornal de Angola, this achievement was only possible due to the work
On the 17th of January, 2024 the English-Australian mining giant, Rio Tinto signed a mining investment contract with the Angolan Ministry of Mineral Resources, Oil and Gas in Luanda. The $5.7 million USD deal will grant Rio Tinto a 35-year exploratory license for the Moxico Concession. According to the company’s website, the exploration will primarily be seeking base metals such as copper, zinc, cobalt and titanium. The contract calls for an initial 5 years of
Boasting abundant natural gas resources and immense potential in human capital, Africa is currently witnessing the development of several large Liquefied Natural Gas (LNG) projects. These upcoming ventures are expected to play a pivotal role in spearheading the continent’s LNG export capacity, driving domestic electrification, and facilitating resource monetization. One such project nearing completion is the Greater Tortue Ahmeyim (GTA) LNG Project. The first phase of GTA, located on the maritime border between Senegal and
The service companies have played a pivotal role in the growth of Angola’s upstream, midstream, and downstream sectors, solidifying the country’s position among Africa’s leading oil and gas producers. In recent months, several multi-million-dollar deals have been signed, contributing to the expansion of operational energy projects in the country. As plans to increase exploration and production unfold, service companies are anticipated to be at the forefront of the industry’s evolution. Azule Energy Awards $7.5Bn in
The United States (U.S.) is advancing bilateral ties with Angola, strengthening cooperation in key areas including economic, trade, and investment, food security, global health cooperation, and climate and energy. U.S. Secretary of State, Anthony Blinken, wrapped up his four-nation tour of Africa with a visit to Angola, where he discussed the U.S.-Angola partnership and promoted shared goals such as expanding economic prosperity and energy access. During his stop in Angola on 24 and 25 January,
Oil prices edged up on Tuesday 30th of January, following a more than 1% decline in the previous session, driven by escalating geopolitical tensions in the Middle East, a major oil-producing region. Brent crude futures increased by 7 cents, or 0.07%, reaching $82.46 a barrel by 0734 GMT. Meanwhile, U.S. West Texas Intermediate crude rose by 15 cents, or 0.31%, to $76.93 a barrel. Both contracts experienced a drop of over $1 on Monday 29th
