Rio Tinto group interested in mining in Angola

11 February 2011

Cape Town, South Africa, 11 Feb – Angola’s mining sector within 15 to 20 years may reach the level of development of its oil sector due to its current potential, the country’s Geology, Mining and Industry Minister said Thursday in Cape Town.

On leaving a meeting with officials from Anglo-Australian group Rio Tinto, Joaquim David said that, with correct legislation, peace and joint efforts with the private sector and the financial and technological capabilities of foreign partners, the mining sector would soon be equivalent to the oil sector.

In terms of entry visas to Angola for investors interested in carrying out projects in the country, the minister said that it was a difficult issue for Angola and common to almost all countries, as the migration situation was now a problem that states were dealing with cautiously.

David cleared up some aspects of current legislation with the Rio Tinto representatives, spoke about Angola’s diamond potential, investment opportunities and diversification of mining resources.

“The meeting was positive and soon we could have this group operating in Angola,” said the minister, noting that Rio Tinto was interested in the diamond sector, but had shown particular interest in diversifying of resources such as gold, copper and bronze. (macauhub)