Angola’s Ministry of Geology and Mines has approved the mining and investment contract of Australian company Rift Valley Resources for a project to mine several metals in Ozango, the company said in a statement.
The approval of the mining and investment contract allows the company to explore non-ferrous metals, rare earth elements, rare metals and precious metals in the 3,670 square-kilometre concession area.
The contract has an initial duration of five years with two extensions of one year each, and, in the event of discovery of metals with commercial value, Rift Valley Resources may request a valid mining license for a period of 35 years.
The concession is located 520 kilometres southeast of Luanda, the capital city and is located only 70 kilometres from the city of Huambo,which has quality road and rail links. (macauhub/AO)