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
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...
Rwanda, partners break ground on $2 billion Kigali Innovation City Smart city targets ...
MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
Zimbabwe expanded cooperation with UNESCO on artificial intelligence, digital transformation, and digital governance. The government positioned...
Morocco signed eight memorandums of understanding to launch Idarati X.0 as a unified digital entry point for public services. The government...
Authorities presented a national 5G implementation strategy on February 11, 2026. The government will start deployment with a 5G Non-Standalone...
Authorities will open tobacco auctions on March 4, 2026, with contract sales starting March 5. Initial projections target a 360,000-ton harvest,...
had relaunched the International Festival of Saharan Cultures (FICSA) in Amdjarass after a seven-year hiatus. Niger participates as guest of honor,...
Porlahla Festival ends third edition in Kouto, promoting Senufo culture Event draws regional and international participants, boosting cultural...