The first stone of Lucunga’s Integrated Phosphate Exploration and Transformation Project (PIETFL), in Tomboco municipality, Zaire province, was launched on Friday, marking the beginning of an overall investment of US$132 million by Angolan company Vale Fértil.
The concession area of this project is 504 square kilometres, with an estimated 215 million tonnes of phosphate rocks and approximately 71 million tonnes of phosphate rock deposits, with a phosphate content of around 10%.
The aim of this project is the exploration and transformation of phosphate rock deposits and their processing for the production of fertilizers for the domestic market and for export. The mining rights were granted to Vale Fértil by an order of the Minister of Geology and Mines dated 1 June, in compliance with the Presidential Decree of 8 June, 2015.
The investment will be splits 50% for the first two years and the other 50% for the third year, with fertilizer production expected to start in 2019 with 330,000 tonnes and a market value of US$76 million. Production is expected to reach 550,000 tonnes in 2022 and a value of US$126 million.
The mine is located in Lucunga and the mineral processing units (calcination and granulation) at the Soyo Industrial Complex. The location was chosen with a view to gradually building up the Lucunga Mining Development Hub (PDML).
The Ministry of Geology and Mines said in a statement that this project, as it is a significant investment in a geographical area outside urban areas, will boost the creation of the Lucunga Mining Development Hub and stimulate the creation of new companies capable of responding to the development needs of the integrated phosphate exploration and conversion project itself. (macauhub)