Archive

  • The Financial Times reports that the Angolan Government has blocked and taken over the 18% stake of the Chinese company LLI (part of Sonangol) in Catoca. The Government now holds 59% of shares in Angola’s largest mine through IGAPE, the state body managing govt shareholding in companies active in the country. The move is considered another step in President Lourenço’s reform policy, reducing the interdependence with China that was established under the Dos Santos regime, when deals between Angola and China, especially in the oil business, were booming.

  • Iconic diamond miner De Beers this week now officially returns to Angola, as the Anglo American diamond mining division signed two mineral investment deals with the State's mining entity Endiama, giving the miner exploration rights for 35 years in the Northeast of the country. Each exploration concession will have a separate joint venture, with the majority of shares held by De Beers, with an option for Endiama to increase it's share.