The start of gold mining in the Jamba municipality in the province of Huila, Angola needs an investment of US$100 million, Angolan daily newspaper O País reported citing Dinis Santos director of Empresa Nacional de Ferro de Angola (Ferrangol).
The gold mining project, called Mpopo, has been handed over to Angolan precious metals company Somepa, which between 2010 and 2013 conducted prospecting, research and evaluation work in an area of 1,700 square kilometres of which it selected 80 square kilometres as the most promising and are expected to provide annual production of 22,215 ounces of gold.
The prospecting work pointed to the existence of reserves of 5.8 million tonnes of gold-bearing ore that can be mined for 12 to 13 years.
Santos also said that work was underway to find investors interested in the Mpopo project.
According to the Ferrangol director as soon as investments for the start of commercial operation of the project have been secured, the mine can be up and running in a year and a half.
Huila province, with an area of 12,700 square kilometres and a population of 100,000 people has large reserves of iron and gold. (macauhub)