The Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, delivered a speech on Tuesday at the opening of the “Mining Business Forum in Angola,” taking place in Cape Town, South Africa, as part of the “Angola Day” within the framework of the 30th International Mining INDABA conference, which started yesterday and will continue until Thursday.
The forum, themed “Angola: Mining Potential and Business Opportunities for Investors,” kicked off with the signing of a memorandum of understanding between the Angolan Diamond Company, Endiama E.P., and De Beers, as well as a partnership between the Geological Institute of Angola (IGEO) and the South African Council for Geological Sciences (SAGC).
Speaking to the press, Diamantino Azevedo expressed optimism about the outcomes of the event, considering the presence of new exploration areas in the country and the improvement of the business environment to attract investors. He highlighted the National Agency for Mineral Resources, which has a stand providing necessary information about the geological map and legal foundations of the sector.
The head of the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET), leading a delegation of high-ranking officials, stated that the objective is to present new intentions, promoting new areas for attracting investments, while also addressing companies seeking partnerships and opportunities to showcase their projects.
“We came here with the institutional part, that is, the IGEO, to promote the country and new areas for exploration, as well as the National Agency for Mineral Resources (ANRM), which explains how the licensing process for mining activities works in Angola. Companies like Endiama, Sodiam, among others, are promoting their investment intentions,” he said.
These areas, as part of the National Geological Plan survey, provide a better understanding of the country, disclosing anomalies of various mineral groups that are crucial for global awareness. This event is one of the most significant worldwide and the largest in Africa.
Sustainable Projects
The opening message of the conference emphasized creating mechanisms for the abundant mineral resources in Africa to benefit its populations more, involving their local transformation and encouraging the private sector to undertake sustainable projects.
The INDABA opening featured a speech by South African President Cyril Ramaphosa, preceded by a tribute to the late President of Namibia, Hege Geingob, focusing on the need for African countries to unite synergies to overcome obstacles hindering energy and input production costs, preventing sector development and continent-wide economic growth.
Opportunities
Economist Paulo Santos
“Angola seeks to integrate into the global market for rare minerals”
What does Angola’s participation in the 30th edition of the International Mining Conference in Cape Town represent?
As a country in the Southern African region rich in minerals, Angola is seeking to integrate with its neighbors and the global market for rare minerals, aiming to find solutions together to boost the economy.
Has Angola been able to leverage its mining potential effectively?
It seems not, and I believe Angola should possess as many minerals as the Democratic Republic of Congo, Zambia, or Botswana. However, it explores few of them. It is necessary to look at all those that can contribute to state revenues.
Is there a correlation between the International Mining Conference and the Lobito Corridor?
Certainly, because the Lobito Corridor needs funding, and Angola needs to showcase the potential of this project to investors. On the other hand, transportation ease is essential to attract new investors to explore minerals.
Will Angola’s affiliation with the Extractive Industries Transparency Initiative have any impact on achieving goals?
Yes, because we do not want presumed investors or many financial intermediaries, as it would make the business more expensive and less viable. This membership also mitigates the illicit circulation of metals.
What can we expect from the banking sector for the development of the mining industry?
Angolan banks and the financial sector have a great opportunity to form alliances with major international institutions to attract the required investments necessary for the country.
