Vital Industry News
De Beers Board Member Matome Tsholetsa Malema Passes Away Sodiam Raises $25.8 Million in 16th Rough Diamond Auction Shell Reaffirms Commitment to Reviving Angola’s Oil Production Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions Global Oil Prices Surge Amid Rising Tensions in the Middle East Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa Uganda Central Bank Launches Domestic Gold Purchase Programme to Boost Reserves
Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

More Angolan Mining News

Corporate News Diamonds International Mining Personality

De Beers Board Member Matome Tsholetsa Malema Passes Away

De Beers Board Member and Minerals Development Company Botswana CEO Matome Tsholetsa Malema Dies Global…
Corporate News Diamonds Local

Sodiam Raises $25.8 Million in 16th Rough Diamond Auction

Angola’s Sodiam Generates $25.8 Million in Rough Diamond Auction, Surpassing Expectations Angola’s National Diamond Trading…
Corporate News Oil Petroleum

Shell Reaffirms Commitment to Reviving Angola’s Oil Production

Shell Pledges Support for Angola’s Oil Production Revival as Company Returns After 20 Years Shell…
Corporate News Local Oil

Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port

Sonangol Tanker Hit by Explosion Near Iraq’s Khor al Zubair Port; Crew Safe and Vessel…
Local Energy News

Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection

Angola and Namibia Strengthen Energy Ties, Discuss Power Interconnection and Baynes Hydroelectric ProjectAngola and Namibia…
International News Oil

Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium

Oil Surges 25% to Highest Since 2022 Amid Iran War, Driving Vegoils and Aluminium Prices…
International

Chappal Energies Acquires TotalEnergies’ Stake in Nigerian Onshore Oil Venture

Mauritius-based Chappal Energies has recently acquired TotalEnergies’ minority share in a significant onshore oil joint venture in Nigeria. This transaction includes ownership interests in 15 licenses, primarily oil-producing, with a combined output of 14,000 barrels of oil equivalent per day in 2023. The decision to divest was driven by costly repairs stemming from challenges in Nigeria’s oil sector, prompting TotalEnergies to streamline its operations. TotalEnergies had previously signaled its intent to sell its 10% stake

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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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Economy Local News

UAE Expands Strategic Economic Partnership with Angola

The International Institute for Strategic Studies recently confirmed that the United Arab Emirates (UAE) is intensifying its economic relations with Angola through significant investments in key sectors such as energy, technology, and maritime logistics. According to the Institute, the UAE is exploring opportunities in food security through partnerships between the two countries. The UAE views Angola as a growing consumer market and notes that several leading Emirati companies are already investing in critical sectors of

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Local Economy News Transport and Logistics

G7 Investment Set to Transform Angola’s Lobito Corridor

Luciano Chilembe, the financial administrator of the Catumbela Industrial Development Pole (PDIC), expressed satisfaction with the recent $320 million financing provided by the Group of Seven (G7) richest countries for projects in the Lobito Corridor. This funding is expected to significantly enhance the region’s infrastructure and economic potential. Chilembe emphasized the critical work ahead in the transport sector and the need for a focused approach to consolidate reforms in agro-industry and related services. He highlighted

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Local Infrastructure Transport and Logistics

Angola-Zambia Road Project to Boost Trade and Economy in Eastern Angola

Economists and business leaders in Lunda-Norte believe that the construction of a road connecting Angola and Zambia, part of the Lobito Corridor initiative, will significantly enhance the flow of goods and services between Angola’s eastern provinces and the country’s coast. The project involves constructing an approximately 800-kilometer road from Lobito (Benguela) to Luau (Moxico) on the Angolan side. companies, including a consortium like SIbitech and Queiroz Galvão, as well as AFAVIAS, are involved in the

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Diamonds Local

Lucapa Advances Search for Major Diamond Source at Lulo Mine in Angola

Lucapa has intensified its search for the primary source of rough diamonds that supply the Lulo mine in Angola by sampling kimberlites from the nearby Cacuilo River. The miner has identified the area beneath and near the Cacuilo River as a key priority for sampling, believing that the water body carried diamonds from a nearby “mother lode” into Lulo’s alluvial pit. However, severe flooding of the river has previously limited access to this area for

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International Diamonds News

De Beers Increases Flexibility Amid Market Downturn to Support Sightholders

De Beers is expanding its flexibility for this month’s sight as the miner responds to the market downturn by limiting supply rather than lowering prices. The company informed clients last week that sightholders could remove certain goods from their allocations of rough diamonds and request larger buybacks than usual. The July sight, beginning next Monday, occurs amid rising inventories and falling prices in the polished diamond sector, particularly in India. De Beers’ customers expect the

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