Angola’s national diamond trading company, Sodiam sold 8.4 million carats of diamonds in 2018, which accounted for revenue of US$1.22 billion, a company executive said on Tuesday in Luanda.
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Angola’s state-owned diamond firm Endiama sees production rising to 13.8 million carats in 2022 compared with 9.5 million carats forecast for this year, a senior official said on Wednesday.
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Oslo-listed offshore drilling company Seadrill has entered into a 50:50 joint venture with Empresa de Serviços e Sondagens de Angola Ltda, an affiliate of Sonangol E.P.
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The first diamond auction to be held in Angola, in which seven diamonds of exceptional quality were put up for sale, brought in US$16.7 million, Angola’s National diamond trading company, Sodiam said.
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Sonangol, the national oil company of Angola, is close to sales of assets that should earn it billions of dollars and enable it to reduce its heavy debts and invest more in the oil sector, the engine of Angola’s economy.
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A project to mine gold deposits in the municipality of Nambuangongo, in Angola’s Bengo province, is expected to start operating in August, with an annual production of 450 kilograms of gold expected, according to the chief executive of Angola’s national iron company Empresa Nacional de Ferro de Angola (Ferrangol).
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Fourty companies have already registered for the first rough diamond auction to be held in Angola, an initiative intended to strengthen commitment to innovation and transparency in the diamond industry, said the Angolan Minister of Mineral Resources and Oil, Diamantino Azevedo.
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Total and Sonangol have established a JV company aimed at developing common retail and distribution activity in the country. The Total-Sonangol JV will initially focus on fuel distribution and lubricants sales on the business to consumer (B2C) segment, starting with a network of service-stations under the Total brand.
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Angola signed three cooperation agreements with the UAE. The agreements cover the fields of energy production, transmission and distribution, as well as in the supply of drinking water. These agreements concern the setting up of a power plant in Moxico and the installation of an electrical transmission system in order to integrate the eastern region of the country into the entire national electricity grid. The plant will have a projected capacity of 350 to 400…
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What Angola can learn from Nigeria as it creates remarkable opportunities for marginal oil production.The Nigerian experience with marginal oil field development had measurable success, with 24 licenses awarded to 31 companies, some as sole operators and others as joint-ventures.
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