Trafigura has walked away from a proposed 2 000 MW transmission line that would have carried surplus hydropower from Angola to copper and cobalt mines in the Democratic Republic of Congo and Zambia, two sources with direct knowledge of the matter told Reuters.
The initiative is one of at least three privately backed transmission projects worth billions of dollars aimed at supplying electricity from Angola, which has a large surplus of stranded hydropower, to critical minerals operations facing power shortages in the two neighbouring countries.
Trafigura signed in July 2024 a non-binding agreement with engineering firm ProMarks and the Angolan government to conduct feasibility studies for the line.
"Trafigura has abandoned the project," said one industry source.
A second source in the Angolan government confirmed Trafigura's withdrawal, saying the project remains in the negotiation phase with "some changes having been made regarding the consortium members interested in implementing the contract".
