Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned Sodiam sold $12.9 million worth of rough diamonds at their third tender of the year. The sale, held in Luanda, featured 44 diamonds over 10.8 carats, including two stones exceeding 175 carats. Of the 44 stones offered, 42 were sold. Despite a challenging global diamond market, 38 international manufacturing firms participated in the tender. Both TAGS and Sodiam highlighted the benefits of the transparent tender system, which
CAIRO, October 2024: Egypt has lowered its renewable energy target for 2040 from 58% to 40%, as announced by Petroleum Minister Karim Badawi. He emphasized that natural gas will remain a key part of Egypt’s energy strategy for the foreseeable future. Before hosting the COP27 climate summit in 2022, Egypt committed to increasing renewable energy to 42% of its energy mix by 2035, later advancing the goal to 2030. In June 2024, former Electricity Minister
Vivo Energy Mozambique, the representative of the Engen brand and exclusive distributor of Shell lubricants, has inaugurated a new Engen N1 service station in Mumemo, Marracuene. This station opening is part of a strategic partnership with Camel Oil, a fuel and lubricants distribution company. Through this collaboration, which involves 12 stations in the Maputo province, Vivo Energy Mozambique will increase its network to 58 operational stations nationwide, strengthening its market presence. João Oliveira e Sousa,
State-owned utility Electricidade de Moçambique (EDM) is set to invest $110.6 million, in partnership with private companies, to build a 60 MW solar power plant near the Corumana Dam in Maputo province. The project, involving private partners from VBC and operated by Central Solar de Corumana, aligns with Mozambique’s strategic energy goals, according to the non-technical summary of the Environmental Impact Study (EIS), now under public consultation. “This renewable energy project will help the Government
Energy technology company Baker Hughes has been awarded a contract to provide advanced compression solutions to Saipem, supporting TotalEnergies’ Kaminho FPSO project offshore Angola. Baker Hughes will supply its centrifugal BCL compressor and integrated compressor line technology, selected for its ability to reduce emissions by eliminating routine flaring and reinjecting associated gas into the reservoir for storage. “The all-electric Kaminho FPSO project in Angola is a prime example of sustainable energy development, providing critical energy
UK-based integrated energy company Corcel is targeting Angola’s onshore blocks KON 11 and 12 as part of its strategic expansion, according to CEO Scott Gilbert, who spoke at the Angola Oil & Gas 2024 conference. In the interview, Gilbert revealed that Corcel is actively seeking new ventures, aiming to acquire oil and gas assets in both Angola and Brazil. He highlighted Angola’s onshore prospects, which have been producing oil since the 1970s, and expressed the
U.S. President Joe Biden is set to visit Luanda, Angola, in December to discuss key areas of collaboration, including economic partnerships, security, and health. This visit highlights Angola’s growing importance as a strategic partner to the U.S. Biden’s trip aims to enhance U.S. companies’ global competitiveness and spotlight the G-7’s Partnership for Global Infrastructure and Investment initiative, which helped fund an 800 km railway connecting Angola with the Democratic Republic of Congo and Zambia. The
TotalEnergies SE is targeting 2024 to approve the development of a liquefied natural gas (LNG) import terminal in Mozambique, aimed at helping users in neighboring South Africa avert a potential gas supply crisis. The Matola LNG project, near Mozambique’s capital, Maputo, is expected to supply gas to South Africa by the end of 2027, according to Gigajoule, a partner in the development. This timeline coincides with the scheduled end of gas supplies from Sasol Ltd.’s
On October 16, the headquarters of Caixa Social de Catoca was inaugurated, an event attended by representatives from the Ministry of Mineral Resources, Oil and Gas, Endiama EP, senior management of Sociedade Mineira de Catoca, as well as individuals from the diamond subsector and other guests. The Social Fund of Catoca will serve as a complementary social protection mechanism aimed at addressing the most pressing needs of workers and former employees, particularly in areas related
De Beers Group’s GemFair program has achieved a significant milestone by purchasing its 10,000th diamond since its inception in 2018. The program focuses on responsible sourcing within the artisanal and small-scale diamond mining sector, supporting the formalization of the industry by improving standards, ensuring fair value, and providing secure routes to market for ethically sourced diamonds. Since launching, GemFair has expanded from 14 participating mine sites to over 400, collectively supporting more than 6,000 jobs.
