Breaking News
Turkish Companies Eye Investment in Angola's Lobito Corridor 21 International Transport and Logistics 

Turkish Companies Eye Investment in Angola’s Lobito Corridor

Constance
The Turkish ambassador to Angola, Ufuk Ekici, expressed keen interest in leveraging the vast mobility infrastructure along the Lobito Corridor for the prosperity of Turkish businesses during a meeting with Vicente Soares, President of the Chamber of Commerce and Industry of Angola (CCIA). Ekici announced plans to mobilize Turkish companies to establish themselves within the Lobito Corridor in the upcoming year, seeking partnerships between companies from both nations. He highlighted the corridor as a noteworthy area for potential investment, citing Turkey’s readiness to invest across various sectors of mutual interest.… Read More Here
COP28 ends with deal on Transition away from Fossil fuels 22 International Events & Expos 

COP28 ends with deal on Transition away from Fossil fuels

Constance
The COP28 climate talks in Dubai ended in a deal that saw a commitment to transition away from all fossil fuels for the first time. The president of this year’s UN-sponsored summit, the UAE’s Sultan Al Jaber, brokered an agreement that was strong enough for the US and European Union on the need to dramatically curb fossil fuel use while keeping Saudi Arabia and other oil producers on board. The agreement calls for countries to quickly shift energy systems away from fossil fuels in a just and orderly fashion, qualifications… Read More Here
DRC Strikes Carbon Credit Deal for Congo Basin Protection 23 Mining in DRC 

DRC Strikes Carbon Credit Deal for Congo Basin Protection

Constance
The Democratic Republic of Congo has inked a pivotal agreement with a US-based company, dClimate, aimed at preserving the Congo Basin rainforest and peatlands through a carbon credit deal. This agreement with dClimate is a proactive step toward curbing deforestation in the Congo Basin, targeting the preservation of over 100 million tonnes of carbon dioxide within the forest. Over recent years, concerns have escalated among environmentalists regarding extensive deforestation across thousands of acres within the Congo basin. dClimate’s role will extend to assisting DR Congo in establishing a carbon registry,… Read More Here
FQM requests end of blockades to Cobre Panamá Copper mine 24 Copper International 

FQM requests end of blockades to Cobre Panamá Copper mine

Constance
First Quantum Minerals’ (TSX: FM) subsidiary issued a media statement this weekend requesting proper access to the Cobre Panamá copper mine to maintain the environmental stability of the site located to the north of the Central American country, 20 kilometres from the Caribbean Sea. In the brief, Minera Panamá notes that, following an order by Panama’s Trade and Industry Ministry (MICI) to end operations, work at Cobre Panamá has ceased but the mine remains under care and maintenance. However, ongoing blockades of the access roads to both the mine and… Read More Here
Komatsu and General Motors to co-develop hydrogen fuel cell module for 930E mining truck 25 International Mining Equipment 

Komatsu and General Motors to co-develop hydrogen fuel cell module for 930E mining truck

Constance
General Motors and Komatsu have announced that they will co-develop a hydrogen fuel cell power module for Komatsu’s 930E electric drive mining truck, cited as the world’s best-selling ultra-class haul truck. GM, a leader in hydrogen fuel cell technology, and Komatsu, a global manufacturer of mining and construction equipment, will jointly design and validate the technology. The statement said: “Lightweight and quick to refuel, hydrogen fuel cells are ideal for electrifying applications traditionally powered by diesel engines. Hydrogen provides an effective method to package large quantities of energy onboard the… Read More Here
Rio Tinto green lights $110m spending on pre-feasibility study at Rhodes Ridge 26 International 

Rio Tinto green lights $110m spending on pre-feasibility study at Rhodes Ridge

Constance
Rio Tinto has given the green light to a $110 million pre-feasibility study to advance its massive Rhodes Ridge iron ore project in the east Pilbara. Rhodes Ridge — a 50:50 joint venture with Wright Prospecting — contains 6.8 billion tonnes at an average grade of 61.6 per cent iron, including 5.3 billion tonnes at 62.2 per cent and 600 million tonnes at 63.9 per cent. Rio is looking to a staged development of the project with an initial hub likely to be located in the northern part of the… Read More Here
Africa Global Logistic promise to invest 100 million dollars in the Port of Lobito 27 Transport and Logistics International 

Africa Global Logistic promise to invest 100 million dollars in the Port of Lobito

Constance
The Port of Lobito and Africa Global Logistics (AGL) signed, yesterday December 12th, a contract to operate the Multipurpose Terminal of the Angolan port company, a deal in which the international logistics company receives exploration rights for 20 years, in exchange for the payment of 150 million dollars. The president of the Board of Directors of the Port of Lobito, Celso Rosas, and the executive president of AGL, Olivier Noray, signed the contract that gives rise to the immediate payment of 80 million dollars to the Angolan State, in addition… Read More Here
Ivanhoe Mines Announces C$500 Million Private Placement 28 Mining in DRC Copper 

Ivanhoe Mines Announces C$500 Million Private Placement

Constance
Ivanhoe Mines Ltd. announced yesterday December 12 that it has engaged BMO Capital Markets as sole agent in connection with a proposed offering of 41,667,000 Class A common shares (the “Common Shares”), on a private placement basis (the “Offering”) at a price of C$12.00 per Common Share (the “Offering Price”) for aggregate gross proceeds of C$500 million (approximately US$370 million). The Company expects to grant BMO Capital Markets an option, exercisable at the Offering Price up until 48 hours prior to the closing of the Offering, to place up to… Read More Here
Railway project to Link Luanda and DRC 29 Mining in DRC Transport and Logistics 

Railway project to Link Luanda and DRC

Constance
The All-American Rail Group (AARG) signed on Sunday December 10th, in Luanda, a Memorandum of Understanding with the Ministry of Transport with the aim of supporting the railway expansion plan in the North of the country, in an investment estimated at 4.5 billion dollars. Luanda’s connection to the Democratic Republic of Congo (DRC), which aims to strengthen food security in Angola, will boost agricultural expansion in the regions of Uíge, Kwanza-Norte, Bengo, Malanje and Zaire, in close synergy with the logistics platforms of the Soyo, Malanje, Luvo and Lombe.    It will  also enable… Read More Here
European Union satisfied with the Lobito Corridor 30 Transport and Logistics International 

European Union satisfied with the Lobito Corridor

Constance
A delegation representing the European Union (EU) conducted a visit to the Port of Lobito on Saturday, the 9th, aimed at reinforcing its collaborative efforts with Angola concerning the Lobito Corridor. EU Ambassador to Angola, Rosária Bento Pais, highlighted the organization’s commitment to catalyzing the operationalization of the Lobito Atlantic Railway consortium to effectively address outlined challenges. Emphasizing a tangible step in Huambo towards establishing a logistics platform for tropical fruits, Pais underscored the need to witness firsthand the Port of Lobito’s potential. Within the framework of the EU’s “Global… Read More Here

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