Odebrecht group, via its subsidiary Odebrecht Mining Service Investments GmbH, accepted to sell its 16.4% interest in Catoca mining company (SMC) for $140 million.
SMC operates the Catoca project, the fourth largest open pit diamond mine in the world, in Lunda Sul province, Angola.
According to details reported by Macauhub, the interest of concern will first be sold to Wargan Holdings, fully owned by Alrosa, partner on the project. It will then be shared into two 8.2% stakes that will go to Alrosa and Endima, Angola’s public diamond company.
The transaction, which has been approved by President João Lourenço will be concluded in February or March.
Once it is, both companies (Alrosa and Endiama) will each hold 41% interest in SMC. The 18% that remains will be owned by LL International Holding BV.
Louis-Nino Kansoun
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...
Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...
Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...
UK unveils £50M plan to secure critical minerals supply by 2035 Strategy includes partnerships abroad, with focus on Africa's mineral potential UK...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing without IMF-recommended debt restructuring Eligible...
Guinea-Bissau holds presidential, legislative elections amid political fragility President Embaló seeks second term; 65% voter turnout reported IMF...
U.S. Exim to unlock $100B for critical minerals, gas, nuclear projects Egypt gets $4B credit guarantee to secure U.S. gas amid output...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...