Currently, in Angola, 36 of the 51 minerals considered the most critical in the world are known, some of which are about to go into production.
The list will be revised, if necessary, every five years, in consultation with mining industry experts.
According to the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, at the opening of the Investment Forum, on the sidelines of Mining Indaba 2023, the country has an enormous mining potential for clean energy technologies that, among others, include chromium, cobalt, copper, graphite, iron ore, lead, lithium, manganese, neodymium, praseodymium, nickel, silver, titanium and zinc, all of them at different stages of the mineral development value chain.
Considering this fact, the official guaranteed that Angola is and will be a reliable source for the critical minerals needed for the energy transition, adding that “the Angolan Government will not only promote the extraction of these minerals, but will also demand that a significant part of the value chain of these minerals is developed in the country”.
Diamantino Azevedo also said that “given the urgent need to develop critical minerals in Angola, initial efforts are focused on minerals such as lithium, iron ore, nickel, lead, cobalt, copper and rare earth elements, targeting the entire chain of In this sense, according to the minister, the start of production of neodymium and praseodymium, used in the manufacture of batteries for electric cars, is expected to begin in the coming years, in addition to copper and niobium.
“This means that Angola can make a big leap forward in terms of exploring critical minerals in the next five years.
Today, critical minerals represent a generational opportunity for the Angolan Government, economy and future zero net emissions. They are the foundation on which modern technology is built”, highlighted Diamantino Azevedo.
Opportunities
During the Forum, which took place under the motto “Critical Minerals for the Energy Transition”, the minister informed that Angola has projections to significantly develop projects for the exploration of critical minerals for several of these minerals, surpassing current needs.
Opportunities exist in all provinces of the country where critical minerals occur.
For potential investors, Diamantino Azevedo also assured that the country has significant deposits of critical minerals, a stable investment environment, a strong regulatory model and good governance to attract reliable companies from many of the world’s main investor countries.
“To simplify, we can say that our potential investors need to trust someone. So, let’s make them trust us”, he underlined.
Companies guarantee investments in the sector
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, announced in South Africa, on the sidelines of the mining forum, that many foreign companies have guaranteed investment in the Angolan mining sector. Diamantino Azevedo’s statement was given at the end of the intergovernmental conference, held on the sidelines of Mining Indaba 2023.
The minister also referred that, at the conference, he presented the achievements of the sector, both in terms of legislative and institutional reforms, which resulted in the current Governance Model, and in terms of the increase in geological knowledge.
Diamantino Azevedo said that there was an increase in technical facilities with the construction of laboratories, as well as technical-professional schools and centers of excellence built over the last five years.
“We have, as a result of the previous mandate, attracted three large companies to Angola, namely AngloAmerican, Rio Tinto and De Beers and even others of small and medium capacity”, said the official.
From the various audiences held in South Africa, Diamantino Azevedo received assurances from many companies investing in Angola.
“We have already solved the problems that prevented some companies from making the final decision to go to the country”, highlighted the minister.
Diamantino Azevedo said that he left the message to the participants that the Angolan mining sector looks forward to improving environmental issues, greater involvement of communities close to the mining areas so that they can benefit from the mining activity.
“In this Mining Indaba 2023, we are certain that we have achieved our objectives. We have prepared well for our participation and, from this point of view, we are satisfied”, concluded the minister.
US backs rare earth projects
The Assistant Secretary of State for Economic Growth, Energy and Environment of the United States of America, José Fernandez, said that his country will provide assistance to the company that develops the Rare Earths Project in the country.
The confirmation was made during the meeting between José Fernandez and Diamantino Azevedo, in Cape Town, South Africa. The American official also said that the United States of America would support Angola in bringing investment in the prospecting and exploitation of other critical minerals.
At the meeting, subjects related to the US Government’s strategy for supporting African countries, including Angola, with regard to critical minerals for energy transition were also discussed. The two officials reviewed issues related to the partnership in terms of mineral security for energy transition, provision of technical assistance, training of Angolan staff and provision of geological information (through the US Geological Survey), whose letter of agreement will be signed shortly.
