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
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...
The Ugandan government says it will not restrict Internet access during the January 2026 elections. Authorities emphasize regulation and content...
Morocco will ban frozen sardine exports starting Feb. 1 to protect domestic supply and prices. Sardine landings fell 46% between 2022 and 2024 due to...
Guinea recruited 59 Senegalese lecturers and researchers, prompting a review by Senegal’s higher education authorities. Senegal’s government cited...
Congo’s FONEA launched a free national program to train 3,000 youths in beadwork. The initiative targets young people aged 16 to 35 and combines...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...