Private company prospects for rare and precious metals in Angola

21 May 2015

The contract signed between iron compant Empresa Nacional de Ferro de Angola (Ferrangol) and private company Ozango Minerals for exploration of rare and precious metals in the Angolan provinces of Huambo and Bié, was approved by the Angolan minister of Geology and Mining.

The approval is included in an order from Minister Francisco Queiroz stipulating that prospecting activities by Ozango Minerals will be conducted in an area of ​​3,670 square kilometres, in the municipalities of Caala, Longonjo, Katabola and Ukama in the provinces of Huambo and Bié.

Once the prospecting and evaluation phase is concluded, which will take place over a period of five to seven years, if there is interest from the private group and state authorisation is given, the exploration phase will follow, the mining rights of which may allow activity for 35 years, the order said.

The execution of the Mining Industry Diversification Programme, according to the document cited by Portuguese news agency Lusa, is part of the priorities for governance in Angola until 2017, at a time when Angolan revenues remain focused on the oil sector. (macauhub/AO)