The trade balance records a surplus of 14.9 billion kwanzas.

The trade balance of Angola recorded a surplus of 14.9 billion kwanzas in the economic year of 2022, according to data from the National Institute of Statistics (INE). INE data shows that, comparing the balance evolution between 2021 and 2022, there is a growth of 7.59 percent. The main partners of Angola in exports during the period were China, with 43.70 percent, India (10.24%), France (7.25%), the Netherlands (6.83%), and Spain (4.43%), in relation to

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Angola is already preparing to participate in the 3rd edition of the China-Africa Expo.

The invitation for the participation of Angolan authorities in this event was extended during the meeting held on Wednesday at the Glass Palace between the representative of the People’s Government of Changsha City, Tan Ding, and the Minister of Industry and Commerce, Victor Fernandes, who will lead the national delegation. During his speech, Victor Fernandes assured that Angola is working diligently to ensure a successful participation, highlighting the involvement of the Angola-China Chamber of Commerce

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The IRENA Council brings together 113 countries in Abu Dhabi.

More than 100 Member States and the European Union discuss measures to accelerate the path of energy transition at the 25th Meeting of the Council of the International Renewable Energy Agency (IRENA), which started on Tuesday and ends today in Abu Dhabi, the capital of the United Arab Emirates. In the meeting, Angola participates with a delegation from the diplomatic representation in the UAE, headed by the First Secretary responsible for the Economic Sector, Nelson

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Construction of Dam Wall begins at Caculo-Cabaça Hydropower Project in Angola

Excavation work has started for the construction of the 2,172 MW Caculo-Cabaça hydroelectric facility in the Kwanza Norte Province of Angola. Completion of the infrastructure development for the project is set for October 2026, while commissioning is scheduled to commence in 2028. A ceremony commemorating the development took place on 20 May, and was attended by the President of Angola, H.E. João Lourenço, who ceremoniously authorized the provisional deviation of the course of the Kwanza

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TotalEnergies Publishes Security Report and Action Plan for Mozambique LNG

Global oil and gas major TotalEnergies and its partners in the Mozambique LNG project have published an action plan on how they will progress with the development of the natural gas initiative in the southern African country. The plan, proposed by human rights expert Jean-Christophe Rufin, aims to address the relationship between Mozambique LNG and the Cabo Delgado unrest. It involves implementing a socioeconomic development program, focusing on enhancing the local economy, infrastructure, and environmental sustainability in the region.

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Gold retreats again driven by rising U.S. dollar

Gold prices fell again on Tuesday as a recovering U.S. dollar took its toll, with prices heading for a fifth day of losses in six sessions after the biggest pullback since February last week. Price action Market drivers Gold prices have pulled back since the most-active contract logged its second-highest settlement level on record on May 4. It was the highest settlement since the all-time high reached in August 2020. Whether the yellow metal rallies

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Oil Prices Surge on Anticipated Rise in Gasoline Demand, Saudi Energy Minister Issues Warning

Gasoline rallied Monday as speculators looked for a demand boost as the Memorial Day holiday approaches, said Robert Yawger, executive director for energy futures at Mizuho, in a note. U.S. gasoline storage of 218.3 million barrels, as reported by the Energy Information Administration, is 12.6 million below the nine-year low of 205.7 million barrels from Nov. 4, 2022, “implying to me that a storage situation will likely develop at some point in the relatively near

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Elison Karuhanga Confirmed as Speaker at Invest in African Energy Forum Paris

The African Energy Chamber (AEC) (www.EnergyChamber.org), the voice of Africa’s energy sector, is pleased to announce that Elison Karuhanga, Partner at Kampala Associated Advocates, will be speaking at the Invest in African Energy Forum next month. The event is scheduled to take place at the Westin Paris Vendome in France on June 1st. Karuhanga will have the opportunity to showcase Uganda’s oil and gas sector and provide insights on the East African Crude Oil Pipeline

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Maximizing Sustainability in African Mining: Five Key Strategies

Private and public-sector led mining activities across Africa are prioritizing sustainable techniques in projects deployment for environmental sustainability, social responsibility and good business practices. With the continent maximizing exploration and production of its vast extractive resources including critical minerals such as lithium and cobalt to shape the global energy transition and drive economic growth, sustainability has become a standard. Sustainable Mining Techniques and Land Management While traditional mining techniques such as open pit and underground mining have significant impact

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SODIAM raises US$21.7 million in sixth Diamond auction

Angola’s National Diamond Trading Company (SODIAM) raised US$21.7 million from the sale of 1,206.91 carats in the sixth rough diamond special stone auction held in Luanda. The company stated that the special rough diamond stones come from Sociedades Mineiras do Catota, Chitotolo, Kaixepa, Lulo, Luminas, Lunhinga, Uari, and Cooperativa Moquita in an online statement. “Despite the current market situation, characterized by high stocks of polished diamonds and a shortage of liquidity, the total net value

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