In a recent meeting held in Luanda, the European Union (EU) reiterated its dedication to financing ongoing feasibility studies and professional training initiatives aimed at enhancing productivity and profitability within the Lobito Corridor. The assurance came during discussions between European Commissioner Jutta Urpilainen and Angolan Minister of Transport, Ricardo Viegas D’Abreu. The primary focus of this meeting was to underscore the EU’s unwavering support for the development of the Lobito
Category: Shipping News
Ivanhoe Mines Commits to Long-Term Mineral Transport via Lobito Corridor
According to a February 7, 2024, press release from Trafigura, Ivanhoe’s (JV partner is Zijin Mining) Kamoa-Kakula mine in the DRC has agreed to use the Lobito Corridor’s railway to transport mined copper for a minimum of six years. This marks the first long-term commercial commitment to the Lobito Atlantic Railway since Trafigura’s and JV partners won the concession from the government of Angola. Jeremy Weir, CEO of Trafigura had
USD 956 MILLION NEEDED FOR THE MODERNIZATION OF THE MATADI-KINSHASA RAILWAY
The Matadi-Kinshasa railway modernization project necessitates a budget of $956 million, as revealed by Adel Kayinda, Minister of State and Minister of Portfolio, during the recent Council of Ministers meeting held on February 16, 2024. Kayinda outlined the essential steps required for the successful execution of this transformative railway project in the Democratic Republic of Congo (DRC), emphasizing positive assessments from the Analysis Commission regarding technical, financial, and legal aspects.
U.S. and China Back Competing Rail Corridors to Zambia’s Copper Belt
The U.S government has given new commitments in the development of the Lobito Corridor, which is proposed as a critical trade route to facilitate movement of green energy resources in the Southern Africa region. At a forum last week in Lusaka convened by the G7’s Partnership for Global Infrastructure and Investment (PGI), the U.S. International Development Finance Corporation (DFC) announced new financing support for the corridor, which extends across Angola,