Minister Diamantino Azevedo highlights the importance that the agreements have in bringing major players in the field of mining exploration to Angola. The presence of Anglo American and the return of De Beers Diamonds are highlighted as great examples
The Canadian international company Ivanhoe Group will invest approximately 6 billion US dollars in the exploration of copper and cobalt (ferromagnetic metal) by the end of this year, according to the institution’s head Marna Cloete. Speaking yesterday at the opening of the 2nd International Conference and Exhibition on the Mining Sector in Angola, he said that it was discovered that Angola has seismological elements similar to those of the Democratic Republic of Congo (DRC), being the third largest country in the world with cobalt reserves .
Marna Cloete said that they have been engaged in this exploration for three years and that there have been several encouraging discussions with the Angolan authorities to invest in this territory. After the geological studies carried out, Marna Cloete stated that offices will be opened in Angola to advance to the exploration area and the entire process linked to the investment program. Marna Cloete clarified that with the implementation of Ivanhoe Group, not only profits are expected for the company, but benefits for the surrounding communities and in the places where the projects will be implemented, to promote employment for local youth.
Angola and USA cooperation in the mining sector
At the same ceremony, there was also the signing of a second agreement between Angola and the United States of America (USA), between the geological institutes of the two countries. The US ambassador, Tulinabo Mushingi, said that this cooperation between Angolans and Americans is growing at a good pace, and that the signed memorandum aims to promote scientific cooperation between Angolans and Americans.
Tulinabo Mushingi highlighted that one of the objectives is to try to map Angola’s mineral resources using a map that illustrates all these resources and that, with this cooperation, the USA wants to make Angola a supplier of the mineral resources that the world needs for the transition energy. But, he continued, after achieving all these objectives, it is expected that the whole world will benefit from these resources, particularly to improve the living conditions of the Angolan people. The diplomat emphasized that this cooperation will help in the diversification of the Angolan economy, as many different companies are working in the oil and telecommunications sectors, but today we are talking about different minerals, such as copper, manganese and cobalt.
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said that his department needs to publicize what they do with Angolan society and beyond, especially what is done in the sector. “MIREMPET wants to publicize the mining sector, as well as listen to the expectations of all those who are interested in this sector”, he highlighted. Regarding the signed agreements, Diamantino Azevedo highlighted that the memorandum between the two geological institutes is important because all mining activity begins with geology, thus creating relations between the USA and Angola.
Thus, said the minister, the Angolan side will be able to benefit from the experience, capacity and networking that the Americans have. As for the Canadian company Ivanhoe Group, he said that the agreement is a mining investment contract that will have a prospecting phase, with two mining investment contracts for copper prospecting for the provinces of Moxico and Cuando Cubango.
“It is necessary to take into account that the mining activity of prospecting from scratch is long-term and it is not without reason that the Mining Code allows at least five years just for prospecting”, he highlighted. Diamantino de Azevedo clarified that these agreements aim to bring large prospects into the country, such as De Beers Diamonds, for the first time Anglo American and a series of small and medium-sized companies that are prospecting in the country.