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Economy News

Angola is already preparing to participate in the 3rd edition of the China-Africa Expo.

24, May, 202324, May, 2023

The invitation for the participation of Angolan authorities in this event was extended during the meeting held on Wednesday at the Glass Palace between the representative of the People’s Government of Changsha City, Tan Ding, and the Minister of Industry and Commerce, Victor Fernandes, who will lead the national delegation. During his speech, Victor Fernandes assured that Angola is working diligently to ensure a successful participation, highlighting the involvement of the Angola-China Chamber of Commerce

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Energy News

The IRENA Council brings together 113 countries in Abu Dhabi.

24, May, 202324, May, 2023

More than 100 Member States and the European Union discuss measures to accelerate the path of energy transition at the 25th Meeting of the Council of the International Renewable Energy Agency (IRENA), which started on Tuesday and ends today in Abu Dhabi, the capital of the United Arab Emirates. In the meeting, Angola participates with a delegation from the diplomatic representation in the UAE, headed by the First Secretary responsible for the Economic Sector, Nelson

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Economy Energy News

Construction of Dam Wall begins at Caculo-Cabaça Hydropower Project in Angola

24, May, 202324, May, 2023

Excavation work has started for the construction of the 2,172 MW Caculo-Cabaça hydroelectric facility in the Kwanza Norte Province of Angola. Completion of the infrastructure development for the project is set for October 2026, while commissioning is scheduled to commence in 2028. A ceremony commemorating the development took place on 20 May, and was attended by the President of Angola, H.E. João Lourenço, who ceremoniously authorized the provisional deviation of the course of the Kwanza

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Energy Gas International News

TotalEnergies Publishes Security Report and Action Plan for Mozambique LNG

24, May, 202324, May, 2023

Global oil and gas major TotalEnergies and its partners in the Mozambique LNG project have published an action plan on how they will progress with the development of the natural gas initiative in the southern African country. The plan, proposed by human rights expert Jean-Christophe Rufin, aims to address the relationship between Mozambique LNG and the Cabo Delgado unrest. It involves implementing a socioeconomic development program, focusing on enhancing the local economy, infrastructure, and environmental sustainability in the region.

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Diamonds International

Diamond sorting facility revealed in Johannesburg

23, May, 202323, May, 2023

De Beers Sightholder Sales South Africa (DBSSSA) has unveiled its new rough diamond sorting, valuation and sales facility in Johannesburg. De Beers Group announced in January 2023 that it was relocating its Sightholder Sales activities in South Africa from Kimberley to Johannesburg following a review of its sorting activities in South Africa. The relocation supports the government’s strategy to consolidate the country’s mineral beneficiation sector into one area at the Gauteng Industrial Development Zone. The relocation

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Economy International Mining News

Gold retreats again driven by rising U.S. dollar

23, May, 202323, May, 2023

Gold prices fell again on Tuesday as a recovering U.S. dollar took its toll, with prices heading for a fifth day of losses in six sessions after the biggest pullback since February last week. Price action Market drivers Gold prices have pulled back since the most-active contract logged its second-highest settlement level on record on May 4. It was the highest settlement since the all-time high reached in August 2020. Whether the yellow metal rallies

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International News Oil

Oil Prices Surge on Anticipated Rise in Gasoline Demand, Saudi Energy Minister Issues Warning

23, May, 202323, May, 2023

Gasoline rallied Monday as speculators looked for a demand boost as the Memorial Day holiday approaches, said Robert Yawger, executive director for energy futures at Mizuho, in a note. U.S. gasoline storage of 218.3 million barrels, as reported by the Energy Information Administration, is 12.6 million below the nine-year low of 205.7 million barrels from Nov. 4, 2022, “implying to me that a storage situation will likely develop at some point in the relatively near

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Energy International News

Elison Karuhanga Confirmed as Speaker at Invest in African Energy Forum Paris

23, May, 202323, May, 2023

The African Energy Chamber (AEC) (www.EnergyChamber.org), the voice of Africa’s energy sector, is pleased to announce that Elison Karuhanga, Partner at Kampala Associated Advocates, will be speaking at the Invest in African Energy Forum next month. The event is scheduled to take place at the Westin Paris Vendome in France on June 1st. Karuhanga will have the opportunity to showcase Uganda’s oil and gas sector and provide insights on the East African Crude Oil Pipeline

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Economy Energy International Mining News

Maximizing Sustainability in African Mining: Five Key Strategies

23, May, 202323, May, 2023

Private and public-sector led mining activities across Africa are prioritizing sustainable techniques in projects deployment for environmental sustainability, social responsibility and good business practices. With the continent maximizing exploration and production of its vast extractive resources including critical minerals such as lithium and cobalt to shape the global energy transition and drive economic growth, sustainability has become a standard. Sustainable Mining Techniques and Land Management While traditional mining techniques such as open pit and underground mining have significant impact

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Economy Energy International

Empowering Energy: Unlocking Financing for Projects in the MSGBC Region

23, May, 202323, May, 2023

Despite offering significant energy resources, access to financing remains one of the key challenges facing energy projects in the MSGBC region. Fortunately, there are various financing avenues emerging, presenting new opportunities for MSGBC governments and project developers alike to leverage the full potential of regional resources. Traditionally, energy projects in the region have been financed by international banks, development finance institutions (DFIs) and by project developers themselves. These institutions provide loans, guarantees, and equity investments to

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