Angola state oil firm Sonangol targets critical minerals after profit dip
Angola's state oil firm Sonangol is diversifying into critical minerals like lithium and uranium. The shift follows a reported net profit of $750 million in 2025.
Insights:
Sonangol, the state-owned oil company of Angola 
AO, announced on February 25, 2026, its intention to diversify its operations into the critical minerals sector. The company plans to expand its reach into the exploration and production of uranium, lithium, and quartz, marking a strategic shift from its traditional focus on hydrocarbons. This announcement was made alongside the release of the company’s annual results, which showed a lower net profit for the prior year compared to previous periods.
AO, announced on February 25, 2026, its intention to diversify its operations into the critical minerals sector. The company plans to expand its reach into the exploration and production of uranium, lithium, and quartz, marking a strategic shift from its traditional focus on hydrocarbons. This announcement was made alongside the release of the company’s annual results, which showed a lower net profit for the prior year compared to previous periods.
