Angola could become a mining powerhouse in Africa

APRIL 13TH, 2015    NEWS

The government of Angola wants the country to become a mining powerhouse in Africa in order to attract more private investments that contribute to the diversification of the economy, said Friday in Luanda the minister of Geology and Mining.

Francisco Queiroz, who was speaking during a debate on the impact of investment in the mining sector on the diversification of the Angolan economy, an initiative of the US-Angola Chamber of Commerce (USACC) used Mozambique as an example to support his statement.

“Mozambique is currently on the route of development due to a national geological plan, which although it lacks the size and ambition of our own, has managed to attract very high investments for exploration of aluminium, gas, coal and other mineral resources,” he said.

The minister of Geology and Mining went on to say that the results achieved by Mozambique “give us the certainty that in Angola we can make important discoveries of each of the 38 existing minerals in the country,” according to Angolan news agency Angop.

The Executive Director of the US-Angola Chamber of Commerce, Pedro Godinho, said in turn that the event entitled “First Friday Club” held in a hotel, aimed to promote among its members, projects with the greatest potential to boost the diversification of the national economy.

The First Friday Club started in March 2012 and has covered topics such as “The Capital Market in Angola,” “Strategy of the Ministry of Commerce, Distribution Networks and Logistics Centre,” “BP’s Local Content Strategy,” “How to Invest in Angola,” “Trade Relations between the United States and Angola,” “New Consumption Tax for the Oil Sector” and the “Importance of the English language.”

The US-AngolaChamber of Commerce (USACC), which has a 25-year history, is the oldest and the only organisation dedicated exclusively to promoting trade and investment by the United States in Angola and promoting Angolan economic development. (macauhub/AO)