Angola Has Huge Amounts of Mineral Wealth – Official

Angola is one of Africa’s fastest growing economies

Angola’s subsoil offers a wide variety of minerals, such as precious metals (gold and platinoid), basic (iron, copper, chromium, nickel), industrial (phosphates, limestone and industrial salts), heavy (zircon and titanium), and ornamental and building materials, said Wednesday in Luanda, the national director of mining, Kavungo Marlon.

Addressing a lecture on the mining sector in Angola, at the Luanda International Fair (FIMA), Kavungo Marlon said, due to the wide variety of metals, investment opportunities will go for the sub-sectors of diamonds, ornamental rocks, agro-minerals, iron and manganese, uranium, gold and others.

He added that Angola intends to develop a programme to support the mining sector that will focus on updating the geo-mining documentation, the redefinition of areas with strong mining recovery potential and exploitation of new deposits.

He stressed that the perspectives underway in the sector include maintaining current levels of production of diamonds and its progressive increase with the discovery of new deposits and commissioning of secondary diversification of mining production in support of the national manufacturing and construction, the regulations of the Mining Code.

The sector also aims to create a diamonds stocks market, in view of the appreciation of the national diamond, combating illegal trafficking and organisation of its markets, implement the programme of diversification of the mining industry, improve environmental management mechanisms, through monitoring of business activities and the creation of mining monitoring companies and mining heritage management in the state.