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June 24, 2024
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Angola celebrates 37th anniversary of Mining Labor Day

Angola has marked the 37th anniversary of Mining Labor Day. H.E Diamantino Pedro Azevedo, the country’s Minister for Mineral Resources, Oil and Gas celebrated the day by highlighting developments achieved within the mining industry under the leadership of H.E João Lourenço, President of Angola.

The Minister emphasized the resilience of the industry in driving Angola’s economic growth and in ensuring a better life for the population despite the impacts of the COVID-19 pandemic which disrupted worker mobility and productivity.

The Minister also highlighted the country’s success in implementing a new governance model for the mining sector to improve industry efficiency by reducing the government’s direct participation in a bid to boost foreign and private sector investments.

Exploration activities

The inauguration of the Saurimo Mining Development Center in the eastern Lunda Sul province, a Training Center for Diamond Evaluators and Pencillers, and the Technical Training Center for technicians needed for mining and industrial activities has shown the resilience of the industry and the government’s willingness to improve the economy through boosting the country’s mineral production while pushing for local content.

In addition, the Minister revealed that Angola has increased its exploration activities for minerals including copper, nickel, cobalt, rare earth elements, niobium and phosphates which the country plans to utilize to drive the energy transition at domestic, regional and international levels. With the demand for such minerals expanding owing to an increase in the deployment of energy systems such as solar, battery storage and electric vehicles, mineral-rich countries like Angola are expected to benefit massively from monetizing their resources.

“As a result of the confidence in our work, the result of the reforms initiated and implemented in our sector, under the leadership of H.E. João Lourenço, President of the Republic, and the consequential improvement of the business environment, we were able to bring to the country multinationals such as Anglo American, Rio Tinto, Tosyali and Pensana that come to add value to our flourishing mining industry,” stated the Minister.

Angola’s mining sector accounted for 1.6% of GDP as of the third quarter of 2021, according to research firm Statista, however, with the world’s sixth-largest diamond producer having only exploited 40% of its reserves and production of minerals anticipated to increase in years to come, the sector is expected to expand its contribution to GDP growth.

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