The restructuring of the mining sector in Angola will improve efficiency and increase its contribution to the national economy, said the Angolan Minister of Mineral Resources and Oil.

Diamantino Azevedo, who last Friday paid a visit to Soyo, the capital of Zaire province, said that ongoing restructuring will focus mainly on iron company Empresa Nacional de Ferro de Angola (Ferrangol) and diamond company Empresa Nacional de Prospecção, Exploração, Lapidação e Comercialização de Diamantes de Angola (Endiama).

The minister added that the process will end in the separation of the concessionaire function, “because it is understood that these companies will only become more efficient when they are actually dedicated to their core business avoiding dispersion.”

Azevedo, quoted by Angop, said prospecting, exploration and conditioning of mineral resources was the vocation of Endiama and Ferrangol, explaining that the measures are part of a change of direction decided by the current government.

“In line with the creation in August of the National Oil and Gas Agency (ANPG), there is also a process with an approved calendar and schedule, that began with the appointment of the Installation Commission and the Installation Monitoring Group of the new entity,” he said.(source: Macauhub)