The diamond sector in Angola anticipates recovering a deficit of nearly 1.4 million carats in the second half of the year, aiming to meet the annual production target of 14.6 million carats by year-end. Miguel Vemba, Director of Endiama’s Mining Operations and Holdings Management, shared these insights during the Semiannual Diamond Production Balance Workshop held from July 7-8 in Lunda-Norte. In the first half of 2024, Angola produced approximately five million carats of diamonds, generating
Angola ranks among the countries with the lowest electricity prices globally, following Ethiopia, Sudan, and Libya in Africa, according to global statistics. As of December 2023, Angolan households paid an average of 11.83 kwanzas, equivalent to $0.013 per kWh. This contrasts sharply with the global average price of $0.157 per kWh (13.7 kwanzas). Despite significant investments in the energy sector and notable advances in some provinces, the country has yet to achieve desired outcomes due
The Benguela Railway (CFB) has announced plans to resume regular train services between October and November 2024, addressing current limitations on seating capacity caused by technical issues. In a statement issued to Jornal de Angola, CFB apologized for the disruptions affecting daily rail transport for users in the provinces of Huambo, Moxico, Bié, and Lundas Norte and Sul. The reduction in seating has significantly impacted communities along the railway line connecting Benguela province to Luau
Sociedade Mineira do Luele in Lunda-Norte achieved a production milestone of 1.8 million carats in the first half of this year, securing the administration’s confidence and maintaining over 1,800 jobs. The president of the company’s Board of Directors, Rómulo Mucase, shared this information in Dundo, noting that the production figures represent 94% of the projected 1.9 million carats for the period. He emphasized that this achievement is particularly impressive given the mine’s short operational history,
The National Diamond Company of Angola (Endiama) is implementing measures to stabilize the financial situation of the Lunhinga and Luminas mining companies in Lunda-Norte, both of which are facing significant challenges due to market pressures and high operating costs. Laureano Paulo, Endiama’s Executive Administrator for Mining Operations, Participation Management, Audit, and Quality Control, shared this information during a press briefing on Wednesday, following the Diamond Production Balance Workshop for the first half of the year.
TotalEnergies SE has renewed its contract with Northern Ocean Ltd. for the continued deployment of the Deepsea Mira rig in West Africa. The contract’s firm term has been extended until October 2024, covering one well, with an option for an additional well. TotalEnergies SE began a multi-well drilling program offshore Namibia, following the Venus light oil discovery in Block 2913B (PEL 56) and subsequent exploration of the Venus accumulation into Block 2912 (PEL 91). The
Norwegian renewable energy developer Scatec is reducing its presence in sub-Saharan Africa by selling stakes in three South African renewable energy projects. This move comes after the company recently sold a plant in Rwanda and divested from operations in Mozambique. In the last week of July 2024, Scatec divested its indirect interests in hydropower plants located in Uganda, Malawi, and at the border of Rwanda, the Democratic Republic of Congo (DRC), and Burundi. This follows
Kwame Oil & Gas, a company in the oil sector, announced the upcoming launch of two operational bases in Luanda for metal structure repairs and oil tank cleaning, with a total investment of $150,000. According to Aurélio dos Santos, the company’s general director, the new facilities are located in the Mundo neighborhood of Benfica and are set to begin operations in September. The project, which was first announced in May, includes the construction of two
The Royal Ghana Gold Refinery, which will process 400 kilograms of gold daily, primarily sources raw materials from artisanal and small-scale mines. These mines contribute about one-third of Ghana’s annual gold output of roughly 4 million ounces, according to Bloomberg. Bank of Ghana Governor Ernest Addison stated that the refinery will play a crucial role in curbing gold smuggling, a persistent issue in the country, by providing a ready market for artisanal and small-scale miners.
Nigerian refineries, including the Dangote Refinery, have raised their domestic crude oil requirements for the second half of 2024 to 597,700 barrels per day (bpd), up from 483,000 bpd in the first half, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This increase in demand comes despite limited domestic supply. The NUPRC reported that it secured only 177,777 bpd from oil producers during the first half of the year, far below the refiners’ requests.
