Angolan state iron company Ferrangol will no longer be the concessionaire for the sector and will now focus exclusively on production of ferrous metals, Angola’s Minister of Mineral Resources and Oil said.
Ferrangol is currently the concessionaire for metallic mineral resources (iron, gold and lead) similar to Sonangol for oil and gas and Endiama for diamonds.
Under the restructuring and adjustment programme of the Ministry of Mineral Resources and Oil, these three state-owned companies will no longer be concessionaires and from now on will focus on their core businesses.
Minister Diamantino Azevedo, speaking on the sidelines of the Ministry’s scientific meetings in Sumbe, Kwanza Sul province, said that the intention is to find solutions capable of contributing to the sustainability and growth of the iron production industry in Angola, according to Angolan state news agency Angop.
Ferrangol is a public company that manages and controls the production of iron ore in Angola. It was created in 1981 to manage the Cassinga mines, where it operates three major concessions. (macauhub)