MINING
The World Bank has been a key partner to Angola in its Covid-19 response, and its assistance has included financing support, technical assistance and fiduciary guidance. The country is committed to building its capacity to remain vigilant and responsive to the challenges of Covid-19, even as it expands its economy.
Angola's effective airport Covid-19 screening program is helping to provide safety and security for travelers.
Unearthing Opportunity
Underneath Angola’s stepped mountains, green hills and central Bie Plateau lies one of the largest and most diversified mining resources in the whole of Africa. Long known for being a major producer of diamonds, what is less known is that Angola has largely untouched reserves of iron ore, copper and gypsum.
The country also contains mineral resources that play a major role in the production of everything from smartphones and wind turbines to electric vehicles and batteries, all of which are growing in importance in the 21st century. It’s early days, but Angola has huge potential in the “green mineral” economy.
ADVANTAGE ANGOLA
“Angola has discovered a considerable amount of rare-earth minerals, and this represents a great opportunity”
Minister of State Economic Coordination, Government of Angola
Jose Nunes Junior
Pensana Rare Earths, one company exploring the green mineral economy, has been mining neodymium and praseodymium in Longonjo. These rare-earth minerals are used to make ultra-strong, malleable magnets that are mainly used in the production of electric vehicles and wind turbines. In September 2020, Angola’s sovereign wealth fund agreed to invest $8.6 million in the company to further develop the Longonjo project into a major rare-earth mine, a move that will create jobs, provide training, support local businesses as well as improving the social infrastructure within the Huambo region.
“The world is changing its consciousness regarding the consumption of energy,” says Geraldine Chimbali, Geologist, Pensana Rare Earths. “Neodymium and praseodymium are both crucial in developing key elements that make this new vehicle and energy technology possible. It’s a huge project."
The project will bring major social and economic benefits to Angola and will help accelerate the diversification of the economy. The mine looks set to become a major supplier of the magnet metals critical to the clean energy future. "We intend to use hydroelectric power to lower the emissions for electric power and we’re going to be using the railway instead of trucks to lower carbon emissions," says Chimbali. "Whatever we do, we have the environment and community well-being in mind.”
Geraldine Chimbali
Geologist, Pensana Rare Earth
“Longonjo is living proof that we do have a lot to offer. ”
In July 2020, Pensana Rare Earths listed its Longonjo project on the London Stock Exchange, representing the U.K.’s first resources-focused IPO since Covid-19. Located approximately 300km from Lobito, the Longonjo project is expecting its first production of NdPr in 2022. Production capacity is estimated at 60,000 tons per year, with the first three years producing 4,600 tons per year, reports Africa Oil & Power.
As global public policy continues to orient itself toward green and sustainable energy practices, the outlook for NdPr minerals is considered strong. “Longonjo is living proof that we do have a lot to offer. So, I would encourage universities, I would encourage geological societies, I would encourage investors, just to keep on looking harder and investing in other complexes,” says Chimbali.
The Angolan government forecasts that 2021 will see positive growth in the non-oil sector of 2.1%, helping to partially offset falls of 6.2% in the oil sector. It follows reforms in the foreign exchange market since 2017 that allow investors easy access and exit into the market without any restrictions.
LONGONJO PROJECT
Located only 4 Kilometers from the modern rail line, leading directly into an Atlantic Port.
PORT
LONGONJO
LONGONJO
RAIL LINE
COVID RESPONSE
Pensana Rare Earths
COO Dave Hammond and Geologist Gilson Victorino - Longonjo November 2019
AGRICULTURE
MANUFACTURING
WATCH ALSO
Already Africa’s third largest producer of diamonds, Angola is rich in both kimberlite deposits and alluvial diamonds, with an expected output of 10 million carats in 2020.
DIAMONDS
Yet, less than half of the suitable land in Angola has been fully explored, despite diamonds being first discovered in Lunda Norte province more than 100 years ago. Angola has 14 diamond mining projects, the largest of which are Catoca, Chitotolo, Cuango, Camutwé, Somiluana and Lulo, according to Mining Review, June 2020.
It is estimated that less than half of Angola’s kimberlite have been discovered, with Mining Review recognizing “high potential” for finding more. The political instability of the late 20th century meant companies have been somewhat reluctant to invest, but the sector is open to foreign investment and exploration work.
Australia-based Lucapa Diamond Company is among the growing global producers, with its Lulo mine. Lulo produces large and high-value diamonds, including Angola’s biggest recorded, weighing 404 carats, sold in 2016 for a staggering $16 million.
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Uncut Potential
“The Angolan Presidential approval of the Longonjo Mining Investment Contract reflects the Government’s strong support for foreign investments which help diversify the economy and bring direct social and economic benefits to the communities in which they operate.” – Diamantino Azevedo, Minister of Mineral Resources and Petroleum.
MINING
A Land Full of Rich and Varied Natural Resources
For more information about investment opportunities in Angola visit AIPEX , a one-stop-shop created just for you.
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MANUFACTURING
AGRICULTURE
A Land Full of Rich and Varied Natural Resources
AGRICULTURE
MINING
MANUFACTURING
Infrastructure
For more information about investment opportunities in Angola visit AIPEX , a one-stop-shop created just for you.
LEARN MORE
A Land Full of Rich and Varied Natural Resources
MINING
MINING
AGRICULTURE
A Fertile Land With a Favorable Climate
AGRICULTURE
Whether Roasted or Brewed, Catering To All
Manufacturing
Manufacturing
Linking Southern Africa to the Rest of the World
Infrastructure
Infrastructure
WATCH ALSO
AGRICULTURE
MINING
MANUFACTURING
Infrastructure
ENERGY
AGRICULTURE
MINING
MANUFACTURING
Infrastructure
ENERGY
A Land Full of Rich and Varied Natural Resources
MINING
MINING
AGRICULTURE
A Fertile Land With a Favorable Climate
AGRICULTURE
Whether Roasted or Brewed, Catering To All
Manufacturing
Manufacturing
Linking Southern Africa to the Rest of the World
Infrastructure
Infrastructure
Leaving Fossil Fuels Behind
Energy
Energy
MINING
AGRICULTURE
MANUFACTURING
Infrastructure
ENERGY
Tourism
& CULTURE
MINING
AGRICULTURE
MANUFACTURING
Infrastructure
ENERGY
Tourism
& CULTURE
Exploring a Unique Culture in an Unspoiled Landscape
TOURISM
TOURISM
Exploring a Unique Culture in an Unspoiled Landscape
TOURISM
TOURISM