The Blue Mining company is partnering Angolan state-owned diamond company Endiama to explore niobium deposits in Huíla province, southern Angola, under a government authorization.
The authorisation signed by the Minister of Geology and Mines, Francisco Queiroz, approves the mining investment contract and the rights granted for the Quilengues concession to the two companies in the form of a new company to be set up to explore the niobium deposits, “taking into account the mineral’s strategic interest.”
The initial investment planned for this mining project, which covers an area of 160 square kilometers, amounts to US$20 million, according to official information quoted by Portuguese news agency Lusa.
Brazil has the largest – and virtually only – world reserves of niobium, estimated to total 842 million tonnes, spread across the states of Minas Gerais, Amazonas and Goiás.
Niobium is one of the world’s rarest minerals and is used to manufacture turbines, spacecraft, aircraft, missiles, electronics and power plants, but also to produce steel alloys and superconductors. (Source: macauhub)
You must log in to post a comment.