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Vale concludes sale of assets in Mozambique to Japan’s Mitsui

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Brazilian group Vale completed the sale of its stakes in assets in Mozambique to Japanese group Mitsui & Co, receiving an initial payment of US$733 million, the mining group said in a statement on Monday.

The statement added that the Vale group will receive an additional US$37 million when the financing for the coal project at Moatize, in Tete province, is concluded, with More

Obtala group prepares to expand forestry business in Mozambique

The Obtala Limited group plans to make use of the closed forestry season in Mozambique to lay the foundations to expand its business and increase productivity of the ongoing operations in the country, the group said in a statement issued on Monday.

The closed season on forest resource exploration imposed by the government of Mozambique from 1 January to 31 March of each year is More

Rising prices in Angola must be contained, says head of IMF mission

Price rises in Angola are among the highest in the world, reaching levels that are “not acceptable”, said on Tuesday in Luanda the head of a mission of the International Monetary Fund (IMF), which is in the country for technical consultations.

Ricardo Velloso said that the leaders of the National Bank of Angola are fully aware that the price increase is too high, having More

IMF positive about restructuring of Angola’s BPC bank

The restructuring and recapitalisation plan of Angolan bank Banco de Poupança e Crédito (BPC) has received a positive assessment by the International Monetary Fund (IMF), according to statements by the Head of Mission Ricardo Velloso, on Tuesday in Luanda.

Velloso noted at the end of a meeting with members of the 5th Commission of Economy and Finance of the National Assembly, the More

Angola wants marine resources to help diversify the economy

Angola plans to work with the University of Aveiro, in Portugal, to promote the so-called Blue Economy to assist in the economic diversification process, the minister of Fisheries, Victoria de Barros Neto said in Luanda.

The minister said that later this year Angola may sign a cooperation protocol with the University of Aveiro, which has extensive experience in the sector, for scientific More

Diamonds from Lucapa’s mine in Angola worth more than expected

The 54% increase in the average value of diamonds to US$1,246 per carat will offer a significant increase in the financial results of the Lulo concession in Angola, Australia’s Lucapa Diamond Company said in a statement on Monday.

An initial study estimated that the average price per carat would be around US$800 and the discrepancy is the result of the Australian company finding More