The launch of three mining ventures, including a six-billion-dollar investment in copper prospecting, a scientific collaboration with the United States Geological Survey (USGS), and the imminent opening of the Luaxe diamond mine, marked the commencement of Angola’s 2nd International Conference and Exhibition on the Mining Sector in Luanda.
During the event, the executive president of Canada’s Ivanhoe Group, Marna Cloete, announced a substantial investment of six billion dollars in copper prospecting across Angolan provinces Moxico and Cuando Cubango.
Cloete expressed confidence in the venture’s success, citing Angola’s geological similarity to the Democratic Republic of Congo, where the company has a thriving presence.
Stating that Angola, Zambia, and the Democratic Republic of Congo share a common copper-rich geological formation crucial for the energy transition process, Cloete emphasized Ivanhoe Group’s specialization in copper belts.
She pledged to ensure profitability from the operations while enhancing local livelihoods and creating employment opportunities.
Another significant memorandum was inked between Angola’s Geological Institute and the US Geological Survey, establishing terms for a scientific partnership.
This collaboration was announced alongside Minister of Mineral Resources, Petroleum, and Gas’s declaration of the upcoming commencement of the Luaxe mine this year.
Minister Diamantino Azevedo’s revelation reiterated President João Lourenço’s prior mention of the mine’s launch during his State of the Nation address on October 16th.
Luaxe, situated in Lunda-Sul, is hailed as Angola’s largest diamond project and the world’s third-largest kimberlite, boasting reserves of approximately 350 million carats and an expected lifespan of 30 years.
In his address, Minister Azevedo advocated for an energy transition that prioritizes fossil fuel utilization without adverse environmental impacts, promoting the exploration of minerals like lithium, copper, and cobalt.
The United States Ambassador, Tulinabo Mushingi, lauded the IGEO and USGS partnership as a testament to growing bilateral relations, aiming for mutual prosperity between the two nations.
