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Nigeria’S Walcot Group Secures 3 Oil Blocks In AngolaNigerian conglomerate Walcot Group has signed a production sharing contract with Angola’s national concessionaire the National Agency for Petroleum, Gas and Biofuels (ANPG) for three onshore oil blocks.
The agreement was formalized on April 7, granting Walcot full operatorship of Blocks CON 3 and CON 7 in the Lower Congo Basin. The blocks hold a combined prospective resource base of over 2 billion barrels of oil.
In addition, the company acquired a 10% stake in Block KON 13, located in the Kwanza Onshore Basin. The Block is operated by Nigerian oil and gas company Oando Energy Resources.
In January 2025, Walcot Group submitted nine proposals for five blocks in the Kwanza Onshore Basin, including KON 1, KON 3, KON 7, KON 10 and KON 14. The selection was based on evaluations of financial and technical capacity, as well as suitability.oil-gas
Apr 17, 2025
Energy Capital Power
Drc Advances Oil Rights For SonahydrocThe Democratic Republic of the Congo’s (DRC) Council of Ministers has approved a draft decree that grants state-owned oil company SONAHYDROC the rights to Blocks 1 and 2 in the Albertine Graben.
The decree was introduced on April 11 by Hydrocarbons Minister Aimé Sakombi Molendo during the Council’s 39th meeting. It allows for the direct allocation of the two blocks to SONAHYDROC under a service contract.
Located in eastern DRC, the Albertine Graben is seen as a high-potential zone for oil exploration. By awarding these blocks directly to SONAHYDROC, the government aims to fast-track exploration and production while strengthening national participation in the development of strategic resources.
The decree sets out the legal and fiscal terms for this allocation, ensuring it adheres to the existing regulatory framework. It also reflects the government’s broader strategy of leveraging state-owned enterprises to drive resource development.oil-gas
Apr 17, 2025
Energy Capital Power
Sun Africa Explores Energy, Mining Collaboration With EgyptRenewable energy firm Sun Africa met with Egypt’s Ministry of Petroleum and Mineral Resources to explore joint ventures in solar power, green energy and carbon capture and energy storage technologies.
A meeting between Adam Cortese, CEO of Sun Africa and Karim Badawi, Minister of Petroleum and Mineral Resources of Egypt on April 14 explored potential collaboration on projects spanning oil, natural gas, renewable energy, carbon reduction and mining activities.
During the meeting, Minister Badawi reaffirmed Egypt’s position as a regional energy hub and emphasized the country’s readiness to collaborate with African partners in ways that yield shared benefits.
Meanwhile, Cortese highlighted Sun Africa’s intent to leverage the strong U.S.-Egypt relations and its will to partner existing with Egyptian engineering firms ENPPI and PETROJET on future solar projects. He also noted the company’s goal to utilize Egypt’s expertise to support energy initiatives in other African nations, reinforcing Egypt’s role as a regional energy hub.oil-gas
Apr 17, 2025
Energy Capital Power
Congo Recommissions Turbine At Pointe-Noire Power PlantThe Republic of Congo has recommissioned the first turbine at the Centrale Électrique du Congo (CEC) after completing a two-month overhaul. The first turbine, which had reached the end of its operational cycle, resumed service on March 31, restoring 150 MW to the national grid.
The Congolese government holds an 80% stake holds an 80% stake in the CEC. The remaining 20% is held by Eni Congo, reflecting a public-private partnership aimed at strengthening the country’s energy infrastructure.
Looking ahead, the CEC plans to add a fourth turbine to its existing infrastructure. Currently, the CEC operates three turbines each with a capacity of 150 MW, totaling 484 MW. The addition of this fourth turbine aims to increase the plant’s production capacity to meet the country’s growing electricity demand.oil-gas
Apr 17, 2025
Energy Capital Power
Amw To Spotlight Investor Strategies Driving African MiningAfrican Mining Week (AMW) – taking place from October 1–3, 2025, in Cape Town – will connect global investors with high-impact opportunities across Africa’s mining sector, spotlighting the strategies fueling the continent’s mineral industrialization.
A key highlight of the event will be a high-level panel, The Investor Perspective: Financing Africa’s Mineral Industrialization. The session will explore the evolving investment landscape and examine diverse financing mechanisms – including bank loans, private equity, venture capital and impact investing – that are mobilizing capital into African mining.
DFIs Drive Infrastructure Investments
Attracted by strong returns and Africa’s long-term growth potential, development finance institutions (DFIs) are ramping up investments into the continent’s mining infrastructure. In March 2025, the African Development Bank approved a $150 million loan to Mauritania’s state-owned mining company SNIM and committed $500 million to the Lobito Corridor – a strategic railway project linking Angola, the DRC and Zambia to international markets. Meanwhile, the Africa Finance Corporation (AFC) is backing several critical mineral projects, including Nyanza Light Metals’ $780 million PGMs facility in South Africa, Gecamines’ expansion in the DRC, Giyani Metals’ manganese development in Botswana and FG Gold’s project in Sierra Leone. Between 2014 and 2024, AFC invested over $1 billion into Africa’s mining sector. The U.S. International Development Finance Corporation (DFC) is also deepening its commitment, providing more than $750 million toward the Lobito Corridor, $34 million for Pensana’s Longonjo rare earths project in Angola and $3.2 million to Chillerton’s green copper development in Zambia.
Geopolitics and African Prospects
Geopolitical shifts are intensifying the global race for Africa’s critical minerals, vital for the energy transition and digital economy. From 2019 to 2023, companies from the United Arab Emirates committed over $110 billion to African projects. In early 2025, UAE-based Ambrosia Investment Holding acquired a 50% stake in Allied Gold’s projects in Ethiopia and Mali, investing $375 million to scale up gold production. Canadian mining investment on the continent has now surpassed $37 billion, with companies like Ivanhoe Mines, Fortuna Silver, Pioneer Lithium and Trigon Metals leading expansion efforts. Similarly, Australia’s mining footprint in Africa reached $60 billion in asset value in 2024, supported by firms such as Sovereign Metals, Cazaly Resources and Atlantic Lithium.
Private Placements
Private placements are emerging as a preferred capital-raising vehicle for mining ventures across Africa. Companies including Zanaga Iron Ore, Moab Minerals, Global Atomic Corporation, Premier African Minerals and Trigon Metals are leveraging this mechanism to fast-track project development and attract investor interest. As ESG criteria take center stage in investment decision-making, AMW will serve as a platform for financiers and project developers to engage on sustainability metrics, transparency and responsible investing.oil-gas
Apr 16, 2025
Energy Capital Power
What A National Gas Master Plan Means For AngolaAngola is on the cusp of implementing its National Gas Master Plan (NGMP), following the completion of a public consultation process in late 2024. This comprehensive, 30-year strategy is designed to attract investment throughout the gas value chain, support economic diversification and bolster energy security. As Angola prepares to host the sixth edition of the Angola Oil & Gas (AOG) conference this September 3-4, 2025, the NGMP is expected to take center stage, highlighting the transformative potential of natural gas development for the national economy.Â
A Clear Investment Framework
The NGMP introduces a strong regulatory foundation to support gas-related investment in Angola. It provides a structured roadmap for investors, outlining opportunities in exploration, production and infrastructure development, while clearly defining fiscal terms, tax expectations and investment gaps. This transparency is expected to boost investor confidence and facilitate the efficient deployment of capital and resources. According to legal advisory firm Eversheds Sutherland, the NGMP could attract over $30 billion in investment and deliver more than $150 billion in economic benefits.
Non-Associated Gas Development
A central pillar of the NGMP is the promotion of non-associated gas projects. With the majority of Angola’s gas derived from associated gas projects, the country seeks to incentivize non-associated investment to increase supply and monetize underdeveloped resources. The country’s first non-associated gas project – developed by the New Gas Consortium – is progressing toward a late-2025 start. Offshore platforms for the project were completed in February 2025, and gas from the Quiluma and Maboqueiro fields will supply the Angola LNG plant and other domestic industries. Building on this momentum, the NGMP offers competitive fiscal terms to encourage further investment in gas-dedicated projects.
Enhancing Supply Security
Angola’s transition to a gas-powered economy depends on securing long-term supply. Recent efforts by operators to increase gas production aim to bring the Angola LNG facility to full operational capacity for the first time. Expansion plans for the plant include the addition of a new mini-train capable of producing three million tons per year. Supporting this effort, Chevron’s Sanha Lean Gas Connection project achieved first gas in December 2024, increasing feedstock to Angola LNG by 300 million cubic feet per day following full commissioning. The NGMP supports such developments by mapping out infrastructure needs for production and distribution, reinforcing energy security for Angola’s future.
A Competitive Domestic Market
The NGMP also aims to develop a competitive domestic gas market in Angola, primarily through the development of value-added industries such as petrochemicals, power generation and LPG. While the short-term objectives of the plan are to strengthen supply and increase production, Eversheds Sutherland explains that the long-term objectives (2036-2050) include expanded infrastructure, the conversion of diesel-fired power plants and the development of gas distribution projects. By establishing guidelines for the effective use of gas in the domestic market, the NGMP strives to enhance domestic gas utilization while driving sustainable economic development.
Diversifying Angola’s Energy Industry
By increasing the share of natural gas in Angola’s energy mix to 25% by 2025, the NGMP will reduce dependence on oil, mitigate exposure to price volatility and reinforce the country’s energy security. Projects such as the Sanha Lean Gas Connection, the New Gas Consortium development and future initiatives are expected to deliver stable gas supplies for both domestic use and export.oil-gas
Apr 16, 2025
Energy Capital Power
Minerals Commission Of Ghana To Participate At Mining In Motion 2025Martin Kwaku Ayisi, CEO of the Minerals Commission of Ghana, will speak at the upcoming Mining in Motion 2025 Summit. As the head of the government agency responsible for developing, coordinating and monitoring mineral sector policies, Ayisi’s participation will be instrumental in presenting Ghana’s vision for sustainable mining sector growth.
He will join the panel discussion, Case Studies in Artisanal and Small-Scale Mining (ASGM) Formalization: Learning from Successes and Addressing Challenges, highlighting Ghana’s progress in supporting small-scale miners. Under Ayisi’s leadership, the Commission has introduced key initiatives including the Cooperative Mining Policy, the Ghana Landscape Restoration and Small-Scale Mining Project and the establishment of District Mining Committees – all aimed at improving and formalizing the ASGM sector.
The Commission is also advancing gender inclusivity and economic empowerment through its Financial Independence, Skills Development and Women Empowerment Initiative, which promotes the active participation of women in the mining industry. These efforts have contributed to the continued expansion of the ASGM sector, which in 2024 generated $5 billion in export revenue and employed over one million people, reinforcing Ghana’s position as Africa’s leading gold producer and the sixth largest globally.
With more than two decades of experience in Ghana’s extractive sector, Ayisi brings valuable insight to the Summit. A seasoned mining and petroleum lawyer, he has served on the Board of Directors of the Ghana Integrated Iron and Steel Development Corporation and previously held the role of Senior Legal Officer at the Minerals Commission.
Organized by the Ashanti Green Initiative in partnership with the World Bank, the World Gold Council,and other global stakeholders, the Mining in Motion 2025 Summit will be held under the theme, Sustainable Mining & Local Growth – Leveraging Resources for Global Impact. The event will convene public and private sector leaders including H.E. John Dramani Mahama, President of Ghana, along with high-level representatives from the African Union and the United Nations.oil-gas
Apr 16, 2025
Energy Capital Power
Anglogold Ashanti To Champion Collaborative Mining At Mining In Motion SummitStewart Bailey, Chief Corporate Affairs & Sustainability Officer at Anglogold Ashanti, will speak at the upcoming Mining in Motion Summit, joining a high-level panel discussion on Fostering Synergies Between Artisanal and Small-Scale Miners and Large-Scale Miners: Maximizing Gold Value through Collaboration. He will be joined by representatives from the World Gold Council, Newmont Africa, the Ghana National Association of Small-Scale Miners and the ECOWAS Chamber of Mines.
The panel will explore strategies for fostering collaboration between small-scale and large-scale miners to unlock greater value and growth in Ghana’s gold sector. The discussion comes at a pivotal moment as Ghana works to realize the full potential of its gold industry by promoting infrastructure development and knowledge transfer across mining tiers.
Bailey’s participation is particularly noteworthy given AngloGold Ashanti’s longstanding contributions to Ghana’s mining sector and its global experience in gold project development. The company is currently undertaking a multi-phase, $500 million reinvestment strategy to fully restart and optimize production at the Obuasi mine, which holds an estimated 5.8 million ounces of untapped gold reserves. The revitalized project is expected to support a mine life of over 20 years.
In western Ghana, AngloGold Ashanti operates the Iduapriem gold mine, a $142 million asset producing approximately 268,000 ounces annually, with a target of unlocking over 2 million ounces in reserves. The company has also proposed a strategic merger of Iduapriem with Gold Fields’ Tarkwa Mine to extend mine life, boost production, reduce costs and enhance economic value for Ghana.
As Ghana accelerates efforts to expand its gold mining industry, AngloGold Ashanti’s presence at the Mining in Motion Summit highlights its commitment to sustainable development, cross-sector collaboration and long-term value creation for both local communities and the national economy. The company’s active engagement in high-level dialogue reflects its belief that inclusive partnerships and shared expertise are essential to building a more resilient and responsible mining sector.oil-gas
Apr 15, 2025
Energy Capital Power
Where Policy Meets Investment: African Ministers To Showcase Mineral Refining Opportunities At Amw 2025African Mining Week (AMW) – Africa’s premier gathering for mining stakeholders, taking place from October 1-3 in Cape Town – will feature a high-level Ministerial Forum dedicated to advancing local mineral beneficiation across the continent.
The session – From Extraction to Transformation: African Governments Driving Beneficiation and Value Addition – will spotlight national strategies and regulatory reforms aimed at boosting midstream and downstream infrastructure, enhancing local content, supporting community development and maximizing national value capture from resource exploitation.
Across the continent, mineral-rich countries are enacting policies and investment incentives – including export restrictions on raw minerals – to spur industrialization and local processing. In the Democratic Republic of Congo, the world’s top cobalt producer, authorities imposed a four-month suspension on cobalt and copper exports in February 2025 to prevent market oversupply and stabilize prices. The decision came in response to a steep price drop from $82,000 per metric ton in April 2022 to just $21,550 in February 2025, aiming to resume exports once more favorable market conditions return. These proactive measures are expected to enhance the long-term sustainability of the sector and attract new investments in processing and refining infrastructure.
In Zimbabwe, a 2023 ban on raw lithium exports has attracted billions in downstream investment and created new jobs. In August 2024, Zimbabwe secured $310 million from Chinese and British investors to construct a three-million-ton-per-annum lithium processing facility at Sandawana Mine. Guinea-Conakry, which holds 23% of global bauxite reserves and is the second-largest producer worldwide, is reducing its reliance on raw exports by advancing several alumina refinery projects. Key developments include partnerships with Emirates Global Aluminium and Alteo Refinery to strengthen local industrial capacity. These strategic moves are positioning both countries as key players in the global mineral refining market, with significant potential for long-term economic growth and job creation.
Meanwhile, South Africa, the world’s leading producer of platinum group metals (PGMs), is making major strides in beneficiation. Projects include the $4.5 billion KwaZulu-Natal Titanium Beneficiation Complex by Nyanza Light Metals; a titanium pigment plant at the Richards Bay Industrial Development Zone; a PGM treatment facility at the Steelpoortdrift Vanadium Project by Vanadium Resources Limited; and a new treatment plant at Ivanhoe Mines’ Platreef PGM Nickel Project. These initiatives are expected to significantly boost South Africa’s beneficiation capacity, create thousands of jobs and further cement the country’s position as a global leader in mineral processing and industrialization.
The Ministerial Forum at AMW will provide a strategic platform for African leaders to showcase progress, present investment-ready opportunities and foster collaboration across the mining value chain. It will also serve to align policy priorities and attract long-term capital for the development of sustainable, value-driven mineral economies.
African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.oil-gas
Apr 15, 2025
Energy Capital Power
How Ai Is Powering Innovation, Efficiency In Africa’S Mining SectorAfrican mining projects are increasingly incorporating artificial intelligence (AI) to streamline operations and meet ambitious production targets set by governments across the continent. ​​As the mining industry undergoes a digital transformation, the upcoming African Mining Week (AMW) will highlight the pivotal role of AI and other digital tools in optimizing exploration and production processes, with a view to unlocking new mineral reserves, reducing costs and enhancing worker safety.
Botswana Diversifies Mineral Portfolio
In Botswana, Botswana Diamonds is expanding its mineral portfolio beyond diamonds with an AI-based nationwide exploration campaign launched in August 2024. By March 2025, the company identified potential deposits of besshi, greenstone, Mississippi Valley-type lead and zinc, SEDEX and platinum group metals (PGMs). To capitalize on these discoveries, Botswana Diamonds has applied for 11 new prospecting licenses. John Teeling, Chairman of Botswana Diamonds, stated: “During the initial analysis of the big database, it became clear that the AI technology could be used to identify other unknown minerals opportunities… Our analysis so far has identified a series of targets in copper cobalt, zinc and gold.”
KoBold Advances Zambia’s Critical Mineral Market
U.S.-based startup KoBold Metals is applying AI to enhance critical mineral exploration and mine development in Zambia. In January 2025, KoBold raised $537 million in new capital, bringing its total funding to $1 billion. The company is developing one of the world’s largest untapped copper basins in Zambia, with plans to produce 300,000 tons annually by 2030 from its $2 billion Mingomba Project. Additionally, KoBold Metals is exploring the Dumbwa Mine and Konkola West Project, contributing to Zambia’s goal of reaching 3 million tons of annual copper production by 2031.
Kilken Platinum Drives Mine Expansion
In South Africa, Kilken Platinum is utilizing AI to optimize operations at its Thabazimbi processing plant in Limpopo as part of an expansion plan to double PGM production to 83kgs per month. The project has already increased output to 40kgs in its initial phase. Dondo Mogajane, CEO of Kilken Platinum’s parent company Moti Group, emphasized that AI enables real-time tracking of production metrics and ensures strict adherence to safety protocols.
Beyond these projects, Rio Tinto subsidiary Richards Bay Minerals is employing AI for ore body modeling, equipment dispatch management and blast control at its mines in KwaZulu-Natal, South Africa. In the Democratic Republic of Congo, Glencore is leveraging digital technology to streamline critical mineral exploration as part of its Phase 2 expansion at the KTO copper and cobalt project. AMW 2025 will feature high-level discussions focused on AI’s impact on industry growth, investment opportunities for technology providers and the broader economic benefits of digital transformation in mining.oil-gas
Apr 14, 2025