Two new gold mines will help diversify Angola’s economy

Francisco_Queiroz_Ministro

According to news agency Bloomberg, Angola will see production from two gold mines being developed in the North of the country, starting 2017and helping diversify its economy. Quoting the Minister of Geology and Mines, Francisco Queiroz (photo), Bloomberg  reveals that about $600 million have been invested in exploration for the metal at Mpopo in the southern Huila province.

Following a statement made during an interviewby Minister Queiroz, the article also mentions that “Development is also taking place at Chipindo in the northern exclave of Cabinda and both projects are public-private partnerships”

“Given the uncertainty regarding financial resources, diversifying our economy is a must,” declared the Minister, adding that. “Investing in our mining industry will help us cope with such uncertainties.”(…) “We are starting up a licensing process so that miners can do it legally, according the mining code.”

Exploration for copper at the Mavoio project in the northern Uige province will start soon, and the country wants to make investments in bauxite, used to extract aluminum, in Guinea Bissau and in neighboring Namibia’s iron industry through state-owned Ferrangol EP..

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