Archive

  • Alrosa Stake Catoca (Angola) For Sale

    05/05/2024 21:15

    According to Interfax, quoting Russia's Ministry of Finance Moiseyev, Alrosa will have to sell its stake in Angola's Catoca operation, as pressure from the West on the Angolans mounts to cut ties with Russian, sanctioned entities. According to Moiseyev negotiations to take over Alrosa's share, which originally stood at 41% of the mining operation, are ongoing with "friendly investors".

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    Mining and Exploration

  • Angola Increases Govt Stake in Catoca

    17/06/2022 06:14

    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.

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    Mining and Exploration