Angola stops prospecting and exploration of mineral resources abroad

4 July 2018

Angolan national diamond mining company Endiama has suspended or is evaluating prospecting and exploration of mineral resources in the Central African Republic (CAR) and in Venezuela to focus on the diamond mining in Angola and attracting new investors to the sector, the president of the state-owned company said in Saurimo on Tuesday.

Ganga Júnior, who was speaking on the sidelines of the visit to the Sociedade Mineira de Catoca by Minister of Mineral Resources and Oil, Diamantino de Azevedo, said that the contract with the CAR government for prospecting and exploration of diamonds and other mineral resources was suspended “as we believe we cannot develop a number of projects, particularly outside the country.”

In relation to the contract with Venezuela, for gold and diamond mining, Ganga Júnior said it was being re-evaluated.

The president of Endiama said that most Angolan mining companies are having trouble and facing problems of profitability and organisation, which is the reason for the state’s decision to concentrate efforts in Angola, given that the country has ample resources yet to be explored.

Sociedade Mineira de Catoca is the largest diamond exploration and production company in Angola, with a kimberlite whose exploration began on 11 February, 1997 with a projected life cycle of 40 years.

The Minister of Mineral Resources and Petroleum said that the National Plan of Geology (Planageo), expected to be concluded this year, will only end in 2020 due to the financial difficulties that led to the conclusion of the geological survey in the country since 2014.

At the end of a visit to the construction works of the future regional building of the Angola Geological Institute, in Saurimo, Diamantino Azevedo reported that the buildings erected in the provinces of Luanda, Lunda Sul and Huíla, under the Planageo project, will come into operation after conclusion of geological surveys. (macauhub)