Angolan Mining Oil & Gas

Endiama, Angola’s state-owned diamond-trading company, has signed a mining investment agreement with N’Dumba, a subsidiary of the Jean Boulle Group, to engage in diamond prospection, exploration, and commercialization. The agreement was formalized at the Mining Indaba in Cape Town, South Africa, with Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and Rui Xavier, Angola’s ambassador to South Africa, in attendance during the signing ceremony, Endiama reported on Tuesday. The N’Dumba concession, located in

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Lucapa Diamond Company is currently facing a production disruption at its Lulo mine in Angola after local community leaders barricaded all entrances to the site, making a series of unreasonable demands, according to the company. While the blockade remains peaceful, it has prevented Lucapa’s workers from entering or exiting the site. The company expressed concern for the safety of its employees should it attempt to break through the barricade. Although the workers who are inside

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Lucapa Diamond Company reported a sharp 71% year-on-year decline in revenue for the fourth quarter of 2024, as the lower proportion of large diamonds significantly impacted the average price per carat. Sales from the company’s Lulo mine in Angola dropped to $10 million for the quarter, with the average price per carat plunging by 80% to $1,251. However, the company saw a 42% increase in sales volume, reaching 8,016 carats. The steep drop in average

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