Gold exploration in Angola has seen significant progress, occupying 4.9 percent of the national territory and generating over $10 million in revenue from 2021 to 2023, according to data from the Department of Standardization and Good Practices of the Regulation and Markets Directorate of the National Mineral Resources Agency.
Jornal de Economia & Finances reported that 38 mining titles have been issued for gold prospecting in provinces including Huambo, Huíla, and Cabinda, with 11 mining titles currently active across several provinces.
In terms of production, data shared by the agency indicates a total of 7,672.51 fine ounces over the period from 2019 to 2024, with the most productive year being 2022.
Sales in 2021, 2022, and 2023 yielded $3.39 million and €6.43 million from sales to the United Arab Emirates and Portugal, respectively.
Looking ahead, gold production in Angola is expected to grow from 3.75 to 4.68 thousand fine ounces between 2023 and 2024, representing an annual growth rate of 24.80 percent, aligning with goals outlined in the National Development Plan 2023-2027.
During a “Workshop on Gold Production” in Huambo, Paulo Tanganha, the national director for Mineral Resources, reiterated these goals and strategies, emphasizing an expected growth of over 150 percent in gold production over four years.
Additionally, plans for a Gold Refinery in the municipality of Viana, Luanda, are progressing. The refinery, currently at 50 percent completion, is expected to commence operations by the end of this year and officially open in the first half of 2025.
With a refining capacity of around 25 kilograms of gold per day, the project signals a significant step forward for Angola’s gold industry.
Trained technicians, including those from Portugal, Tanzania, and Ghana, will play a crucial role in the refinery’s operation, leveraging expertise and technologies to ensure its success.
The project, with a budget valued at $7 million, underscores Angola’s commitment to enhancing its position in the global gold market while stimulating local economic growth through value-added processing.
