Angola aims to become a major exporter of critical minerals in 10 to 15 years, focusing on the critical mineral value chain for economic diversification. The upcoming African Mining Week (AMW) will spotlight these developments. Significant projects include Pensana’s Longonjo Rare Earth Project, Shining Star’s Mavoio-Tetelo copper project, and various lithium initiatives. AMW 2025 will connect stakeholders and investors to foster industry growth.
Angola is on a strategic path to become a significant exporter of value-added critical minerals within the next 10 to 15 years. The forthcoming African Mining Week (AMW), recognized as Africa’s foremost mining event, will highlight Angola’s potential in the global critical minerals market. The government’s focus on investment across the critical mineral value chain aims to promote economic diversification and enhance revenue generation from the mining sector.
The country has identified 34 out of the 54 critical minerals listed by the European Union within its mineral-rich basins. As a result, Angola is intensifying exploration, production, and downstream projects to harness its industry potential. The AMW will be convened in conjunction with the African Energy Week: Invest in African Energy 2025 conference from October 1-3 in Cape Town, providing opportunities for sponsors, exhibitors, and delegates to delve deeper into mining opportunities.
Several noteworthy mining developments are emerging across Angola. The United Kingdom’s Pensana has secured funding from Absa Bank to advance the Longonjo Rare Earth Project, a $325 million initiative anticipated to produce 5% of the global high-grade rare earth carbonate. This project is projected to generate $6 billion in export revenue and contribute $1 billion in taxes to regional treasuries, aiding in Angola’s revenue diversification efforts.
Additionally, Shining Star, a Chinese mining firm, is set to initiate operations at the Mavoio-Tetelo copper project. This endeavor aims to yield 300,000 tons of copper annually, substantially enhancing the nation’s mining revenues. Meanwhile, Tyranna Resources, alongside China’s Sinomine, is progressing with multiple lithium projects, including Namibe and Muvero, conducting drilling to identify further reserves.
Efforts are also underway to enhance value addition in the manganese sector, with a $250 million manganese-to-silica processing facility being developed in partnership with ST New Materials, expected to become operational by 2025. Moreover, initiatives to produce steel from iron sourced from the Kasinga region are being spearheaded.
As Angola aims to attract new investments in the critical mineral value chain, AMW 2025 will provide a platform for local stakeholders and global investors to discuss collaboration and growth opportunities in the industry. The event will feature panel discussions, project showcases, and networking opportunities, effectively connecting international investors with Angola’s burgeoning critical minerals market.
In summary, Angola is poised to become a significant player in the global critical minerals market over the forthcoming decade or two. With the identification of a broad array of critical minerals, promising mining projects, and events like the African Mining Week facilitating investor engagement, Angola is positioning itself for successful economic diversification through its thriving mining sector. The collaboration between local stakeholders and international investors will be instrumental in advancing these efforts.
Original Source: www.zawya.com
