Angola: Approval of new mining law expected in 2009

26 November 2008

Luanda, Angola, 26 Nov – The approval of Angola’s New Mining Law, which is currently under discussion, is expected in the first half of 2009, the coordinator of the Technical Commission for the Revision of Mining Legislation, Francisco Queiroz said Tuesday in Luanda.

According to Queiroz, who was speaking to Angolan news agency Angop on the sidelines of the 2nd seminar to discuss the Mining Code, the commission’s work was at its concluding stage, and the draft-project was due to be handed into the government at the end of December.

Queiroz noted that amongst the new aspects of the law was the fact that it favoured national and foreign private investment, as well as boosting the State’s interventionist role.

He also noted that the Angolan government’s new legal code established the responsibilities of the regulating bodies for mining and tax breaks for private investors.

Queiroz also said that the new law, preserved aspects such as environmental protection, safeguarded the lives of people in areas surrounding mines, reduced the levels of bureaucracy as well as seeking to harmonise the investments and the State’s interests.(macauhub)