New mining projects will begin in Angola

27 April 2017

Twenty-three new diamond, gold, phosphate, iron ore, copper and natural stone exploration projects are due to begin in Angola in the short and medium term, the Minister of Geology and Mining, Francisco Queiroz said on Wednesday in Luanda.

The minister, who was speaking at the opening session of the 6th Consultative Council of the Ministry of Geology and Mines, did not quantify the amounts related to each project but said five were for diamond exploration, four for gold, two for iron ore, two for phosphates, one for copper and nine for ornamental rocks.

Queiroz also said that these projects will contribute to overcoming the economic and financial crisis by diversifying the sources of tax revenues and increasing foreign exchange resources and noted a strategy was in place to change the economic base of the country within 15 years using mining as an alternative to oil.

The Geology and Mining Minister said it is necessary to ensure real ownership of the results of mineral resources exploration in Angola by the Angolans themselves, throughout the value chain, based on the “African Mining Vision”, adopted by the African Union in February 2009, which projects the development of the continent by 2063.

The 6th Consultative Council of the Ministry of Geology and Mines was entitled, “The implementation of the executive strategy for the geology and mining sector.” (macauhub)