Angola Roundup: Diamond deposits, $421.3 million road project, natural gas

Angola as a diamond exploration target

Lucapa's newly appointed chairperson, Stuart Brown, hails Angola as the foremost diamond exploration target. He highlights the country's potential for major new diamond deposits and its favourable environment for foreign investment. According to Mining Weekly, the company's focus also extends to Australia and Lesotho, with divestment efforts for the Mothae diamond mine underway. Lucapa remains committed to discovering primary kimberlite sources in Angola. Brown emphasises the company's dedication to its kimberlite exploration program and the potential for significant discoveries.

$421.3 million road project

Angola is investing $421.3 million in a road development programme with funding from Africa Finance Corporation, Standard Chartered Bank, Export-Import Bank of the US, and US Private Export Funding Corporation. Conduril will serve as the primary EPC contractor, with Acrow providing the bridges. In addition to new road construction, the project will include maintenance and resurfacing works. This initiative aims to bolster Angola's economy. According to World Highways, although the capital city, Luanda, is well-developed, much of Angola struggles with inadequate transport connectivity.

Natural gas industry

Angola is driving its natural gas industry forward, with plans to develop gas fields and increase LNG production. President João Lourenço is committed to strengthening Angola's oil and gas sector and expanding its LNG exports. The country is also improving its natural gas projects, and aiming to diversify its stake in the industry. Angola's progress in the LNG sector offers a pathway toward a just energy transition and a boost to local economies across the continent. According to Social News XYZ, the African Energy Chamber has been particularly pleased to see Angola driving its natural gas industry forward.

Solo Creed found in Angola

The tugboat 'Solo Creed' resurfaced in Angola after being involved in a $23 million oil spill in Tobago on February 7, 2024. The tugboat was detained by the Angolan Navy for violating the security perimeter of oil extraction blocks 17 and 18. The government of Trinidad and Tobago is attempting to verify the location of the tugboat, which has not been seen since turning off its location transponder in February. In a report filed by Bellingcat, the tugboat's claimed current owner denies that it was seized and states that the barge has no insurance to help with the oil spill. The cleanup cost of the oil spill is estimated at $23.5 million, and no insurer has been identified for the tugboat and barge.

Road to a polio-free nation

Angola aims to vaccinate over 5 million children to ensure a polio-free nation, with a focus on vulnerable populations such as refugees. The vaccination campaign, supported by the Ministry of Health and partners, is crucial in protecting children from the threat of polio, which has resurfaced in environmental samples and susceptible children in the country. WHO suggests the initiative demonstrates Angola's commitment to promoting child health and resilience in vulnerable communities.