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Angola Pleased with Diamond Roadshow

More than 230 companies have expressed interest in acquiring mining rights in the country.
Aug 29, 2019 5:12 AM   By Rapaport News
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RAPAPORT...
A roadshow launched to attract investors in Angolan mining surpassed expectations, with more than 230 companies expressing interest in acquiring a share of the five concessions on offer.

The Angolan government decided to privatize the deposits — including two diamond sites — in an effort to increase transparency, the Ministry of Mineral Resources and Oil said Wednesday.

“The fact that our country’s geology is very promising in terms of investing in the exploration and exploitation of mineral resources presents us with the challenge of transforming this potential wealth into actual wealth,” the ministry explained on its Facebook page. “This will only be possible if we are able to set the right policies and, above all, know how to implement them in a more open, efficient and beneficial way for all parties involved, namely governments, communities and investors.”

The presentation, the first of four global roadshows, took place in Luanda, Angola, on Tuesday. The five concessions that will go up for public tender include two phosphate projects and an iron project, as well as two diamond deposits located in the Angolan provinces of Lunda Norte and Lunda Sul.

The roadshow will continue with presentations scheduled in Dubai, Beijing and London through September 20, with the tender taking place between September 30 and October 2.

Image: Mineral Resources Minister Diamantino Azevedo speaks at the event in Luanda. (Ministry of Mineral Resources and Oil Angola/Facebook)
Tags: Angola, Angola roadshow, Ministry of Mineral Resources and Oil, Rapaport News
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