Angola: Iron and phosphate, new investment channels

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It is now on the iron ore and phosphate that Angola counts to attract new investors. With this in mind, Luanda is preparing a strategy to attract investors from Europe, the Middle East and Asia "quickly". Angola wants to divest itself of its classic diamond, to better highlight the iron ore and phosphate, little explored.

Angola looks forward to receiving greater interest from investors in the near future. This is the new mining goal of President Joao Lourenço. Thus, the Government of Angola is preparing the launching of public tenders for the granting of mining rights to prospecting and exploration companies in its territory. Tenders for an iron ore mine and two phosphate mines are expected to be launched next October, said Diamantino de Azevedo, Angolan Minister of Mineral Resources and Petroleum.

"According to the Mining Code, when there is enough relevant information on a given concession, the State can launch a call for tenders, considering that we have another modality, direct negotiation", he explains.

A country rich in oil and diamonds, Angola is also known for its deposits of iron and phosphates, but also for bauxite and uranium, among others. But these generally benefit from a low interest from investors and companies explorers.

From this month of September, Luanda plans to organize a tour in three economic capitals of Europe, the Middle East and Asia including London, Dubai and Beijing.



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