Africa Mining: Angola holds large deposits of copper and cobalt

The region rich in copper and cobalt in Zambia and the Democratic Republic of Congo extends to the Angolan territory by at least 116,000 square kilometres, according to the geophysical survey carried out as part of Angola’s National Geology Plan (Planageo) the Minister for Geology and Mining said on Wednesday in Luanda.Francisco Queiroz said Planageo had discovered the Cunene ornamental rock complex with an area of 45,000 square kilometres, covering the provinces of Huila and Cunene and extending into Namibia.

“The magnetic anomalies detected by Planageo show favourable signs for exploration of metallic and non-metal minerals such as iron, diamonds, copper, manganese, titanium, zinc, lead, bauxite and even radioactive minerals and phosphates,” he said.

The minister, who was speaking at the proclamation ceremony of the Angolan Association of Geosciences and Support for the Oil Sector (AEAGSAP), said that, taking into account the results of Planageo, the government had launched a campaign to attract world-scale investors.

“We are hopeful that in the medium term, these investors will have a positive impact on changing the economic base of the country,” said the Minister of Geology and Mining.

Queiroz said mining investment funds should also be set up for the active participation of Angolan businessmen in mining investment, involving partnerships with foreign investors.

The implementation of Planageo cost the Angolan state 40.5 billion kwanzas (225.8 million euros), and its implementation was awarded to the consortium made up of Impulso Industrial Alternativo, Spain’s Geological and Mining Institute and Portugal’s National Energy and Geology Laboratory. (source: macauhub)