The construction of the Gold Refinery in Luanda, spearheaded by GeoAngol, a subsidiary of Endiama, received significant attention on Thursday, highlighted as a priority action by the Angolan Executive for the Mining Sector, as declared by Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo.
Speaking at the opening of a seminar on “Mineral Resources and the Gold Mineral Value Chain in Angola” in Huambo, Azevedo emphasized the importance of refining gold locally to add value to the commodity, enabling its use in jewelry manufacturing and bolstering international liquidity reserves.
Azevedo also outlined various ongoing projects in the Mineral Resources, Oil, and Gas Sector, urging private investment and financing from banking institutions while assuring institutional support for the sector’s growth.
On the sidelines of the seminar, Domingos Baptista, the general director of Geoangol, announced that the Luanda Gold Refinery, Angola’s first, is set to commence operations in 2025 following a $9 million investment.
The project encompasses staff training, factory construction, and equipping with state-of-the-art equipment to promote economic development and gold certification in the country.
Designed to process 25 kilograms of gold per day, the refinery’s construction has reached approximately 50% physical completion.
In attendance at the seminar, Huambo Governor Lotti Nolika highlighted the prevalence of illegal mining activities despite ongoing mining prospecting projects in the province.
He emphasized the adverse financial, human, and environmental effects of illegal mining and stressed the need for collaborative efforts with defense and security forces to combat these activities.
The seminar, held in commemoration of Mining Workers’ Day on April 27th, featured discussions on geological knowledge and mining, including topics such as “Prospecting and Exploration of Gold and Noble Metals in Angola.”
International perspectives were also provided, with presentations from Mauro de Sousa, director of the Brazilian National Mining Agency, and Tiny Mathibeng, chief inspector of the South African Diamond and Metals Authority Precious, shedding light on the global vision of the gold industry and regulatory frameworks.
