Lucapa recovers Fifth-Largest Diamond Discovery at Lulo Mine | 26-02-2024
Angolan Mining Oil & Gas
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Lucapa Unearths Fifth-Largest Diamond Found at Lulo Mine
Lucapa announced Thursday the recovery of its recent diamond discovery, marking the fifth-largest find at the Lulo mine in its 12 years of operation. The miner retrieved the diamond from processing run-of-mine stockpiled ore already on site. This discovery also marks the third diamond weighing over 100 carats found by Lucapa this year alone. In the preceding month, the miner unearthed two type…Read the full article
Chinese Investors Show Strong Interest in Sonangol's Lobito Refinery Project
Sonangol has garnered expressions of interest from Chinese investors and financial institutions in support of the Lobito Refinery project, which received a significant boost in October 2020. This momentum came when the national oil company inked a contract with Chinese contractor CNEC, aiming to complete the construction by 2027. Chairman of Sonangol’s Board of Directors, Sebasti?o Gaspar Martins…Read the full article
Government Issues Warning Against Illegal Diamond Mining Amid International Sales Concerns
The Angolan government has raised concerns about illegal diamond exploration, highlighting the potential risk it poses to the commercialization of Angolan diamonds in Europe and America. The need to criminalize “garimpeiros†(artisanal miners) has been emphasized to address this issue. Janio Correia Vitor, the Secretary of State for Mineral Resources, stressed the international association of…Read the full article
Angola Holds Crude Oil Production Steady at Pre-OPEC Levels
Angola is holding steady with its crude oil production at 1.1 million barrels per day (bpd), matching levels seen before its exit from OPEC. This production rate is expected to be sustained until at least 2027. Since reaching a peak of 2 million bpd in 2008, crude oil output in Angola, the second-largest producer in Africa, has experienced a gradual decline. To offset this decline...Read the full article
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