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International News Renewable Energy

Engie Energy Access Connects 220,000 Mozambican Households to Solar Power

Engie Energy Access has successfully connected over 220,000 families in Mozambique to solar energy through a project valued at more than €18.3 million, the company announced on Thursday. This initiative has provided solar power to over 1.2 million people across ten of Mozambique’s eleven provinces. The company, which started operations in 2019, is the sole renewable energy provider in Mozambique offering comprehensive off-grid solutions, including solar home systems and mini-grids. To strengthen its presence, Engie

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International Gas News

IMF Predicts Restart of TotalEnergies’ Cabo Delgado LNG Project in 2024

The International Monetary Fund (IMF) projects that TotalEnergies’ massive liquefied natural gas (LNG) project in Cabo Delgado, northern Mozambique, will resume development in 2024, with first exports anticipated within four years. According to the IMF’s recent report on the fourth review of the Extended Credit Facility (ECF) program, the onshore LNG project led by TotalEnergies is slated to restart next year. The report, released this month, notes that while the official resumption of the development

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Diamonds Economy International News

Botswana’s Mineral Sector Faces Slower Growth in 2024 Due to Decline in Diamond Production

Botswana’s mineral sector is expected to experience slower growth in 2024 compared to the previous year, primarily due to a decline in diamond production. On July 13, the International Monetary Fund (IMF) revised Botswana’s growth forecast for 2024 from 3.6% to 1%, as reported by Mines.cd. This decline is anticipated to lead to a budget deficit increase from 3.45% to 6%, attributed to reduced revenue from mineral resources. In response to these challenges, the IMF

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International Energy News

Russia and Congo Sign Landmark Nuclear Cooperation Agreement

Russia and Congo-Brazzaville have signed a landmark agreement to cooperate in hydropower and peaceful nuclear energy, announced Russian nuclear company Rosatom. This agreement is part of Rosatom’s broader strategy to expand its nuclear activities across Africa. During a business visit to Congo, Nikolay Spassky, Rosatom’s Deputy General Director and Head of the International Activities Department, met with Emile Ousso, the Minister of Energy and Hydraulics, to finalize the agreements. The deal includes memoranda of understanding

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International News Oil

Egypt to Invest $1.2 Billion to Boost Oil Production Capacity

Egypt plans to significantly enhance its oil production capacity through a substantial investment. The government has announced a $1.2 billion investment aimed at increasing its oil output. Currently, Egypt is one of Africa’s largest oil producers with a capacity of approximately 559,000 barrels per day. The investment, slated for the 2024/2025 fiscal year, will fund the drilling of 110 exploratory wells. This initiative is part of a larger strategy to invest $7.2 billion in drilling

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Diamonds International News

Anglo American Contemplates Further Diamond Production Cuts Amid Market Challenges

Anglo American (LON: AAL) announced last week that it is considering additional cuts to diamond production due to ongoing market challenges, complicating its plans to sell its De Beers unit as part of a significant business overhaul. The restructuring plan was announced in May following the successful rebuttal of a $49 billion takeover approach from BHP (ASX: BHP), the world’s largest miner. The plan includes the sale or divestment of its 85% stake in De

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Diamonds News

Turmoil and Legal Battles Threaten Namibia’s Elizabeth Bay Diamond Mine

Namibia’s historic Elizabeth Bay Mine, surviving through wars and economic downturns since the early 1900s, faces new challenges amid ownership disputes between local entity Sperrgebiet Diamond Mining and Zimbabwean investor RioZim. Initially commissioned by Deutsche Kolonialgesellschaft Sudwestafrika in 1909, the mine has seen multiple operational halts, most recently in 2018 when Namdeb Holdings ceased operations due to strategic misalignment. Acquired by Lewcor Group in 2020, hopes were high for its revival, but financial woes and

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Local Economy News Transport and Logistics

Transforming Bié: The Economic Potential of the Lobito Corridor

The business sector in Bié province is optimistic about investments along the Lobito Corridor, particularly in the Benguela Railway (CFB). These developments are expected to enhance agricultural production and facilitate the transport of goods to Zambia and the Democratic Republic of Congo (DRC). Farmer Manuel Maia, who operates several agricultural projects in Cunhinga, believes the Lobito Corridor will significantly boost his investments and strengthen local agriculture. He plans to leverage this route to expand his

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Local Gold Mining Projects News

Angola’s Mining Sector Poised for Growth in 2024

Angola is set to significantly boost its revenue streams with the commencement of production at the Lombe Mining and Mapele gold exploration projects in Cabinda and Huíla provinces this semester. These projects recently received prospecting approvals from the National Agency for Mineral Resources (ANRM). According to the ANRM’s report, a subsidiary of the Ministry of Mineral Resources, Oil and Gas, four new exploration projects for ferrous and non-ferrous metals are expected to enter production by

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Local News Transport and Logistics

Lobito Port Welcomes First Major Shipment to Support DRC Mining Operations

The Port of Lobito Mining Terminal in Benguela welcomed its first large cargo ship on Friday, loaded with 40,500 tons of sulfur to support mining activities in the Katanga area of the Democratic Republic of Congo. According to a press release, the bulk cargo transport ship MV Lindsaylou’s arrival marks the start of port operations by Lobito Atlantic Railway (LAR), the concession company for the Lobito Corridor. The ship was loaded in Qatar and embarked

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