Africa Mining: Angolan government awards more concessions for gold prospecting

angola-flagn_147388The Angolan government has awarded four new gold prospecting concessions, involving partnerships between Angola’s national iron company, Ferrangol and private companies, covering a total area of more than 5,000 square kilometres and an investment of 8 million euros, under orders signed by the Angolan Minister of Mineral Resources and Oil.

The first order signed by Diamantino Pedro Azevedo concerns a concession located in the municipality of Tchicala-Tcholoanga, in the province of Huambo, where mining rights are attributed to the joint venture of public company Ferrangol (25%), Solande (65%) and MJP (10%) involving gold prospecting in a total area of 3,212 square kilometres and an initial investment of US$796,000.

The second concession to prospect for gold refers to an area of 200 square kilometres located in the municipality of Chipindo, Huila province, involving Ferrangol (85%), together with private companies Zanvula, Cecadiam and Angosam, each with a 5% stake, with a total investment of US$823,000.

A third order signed by the minister authorises the concession to prospect for gold in an area of 1,738 square kilometres in Dembos municipality, Bengo province, involving Ferrangol (25%), Praxis (70%) and Lukestico (5%), in an initial investment valued at more than US$7.1 million.

The fourth concession is located in the municipality of Nambuangongo, also in the province of Bengo, involving Ferrangol (20%), Tandai Minas (72%) and Actus (8%), to prospect gold in an area of 5 square kilometres.

The prospecting rights granted under the four contracts are for a two-year term, which may be extended to a maximum of seven years, while the exploration phase may extend from three to 35 years, according to Portuguese news agency Lusa. (macauhub)

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