International mining groups interested in Angolan project

6 June 2007

Windhoek, Namibia, 6 June – Over ten international mining groups have shown interest in a project to re-launch iron ore mining and steel production in Angola, the Angolan Geology and Mining Deputy Minister, Mankenda Ambroise said in Windhoek Tuesday.

The project aims to re-launch iron ore mining at the Cassinga mine, in southern Angola, which was abandoned during 27 years of civil war.

“It is an iron and steel project, it’s a very large project that incolves railroads and ports,” said Ambroise, adding that state company Ferrangol was currently searching for partners for the project.

“We have to make a decision about partners, as there are more than ten mining groups interested in the project, including BHP Billiton, the world’s largest mining group, and Bateman Engineering NV, from the Netherlands, and others from Brazil, the United States and India,” said the deputy minister.

Ambroise also said that two to three years would be needed to carry out economic feasibility studies and choose partners for the project.

“The exact cost of the project is still not clear, but a preliminary study projected an approximate cost of US$3 billion,” he said.

Ambroise was representing Angola at an international seminar on mining investment in southern Africa in Windhoek, Namibia. (macauhub)