Angola runs first mining roadshow

Luanda- Angola started on Tuesday running its first mining roadshow for the acquisition of rights for prospection and exploitation of diamond, iron and phosphate in the country in which Brazil and South Africa along with other 60 interested are taking part in the maiden event taking place in Luanda, an official source said.

The roadshow will run from August 27 to September 20 in Luanda, Dubai, Beijing and London, with aim to entice interest of investors.

The Ministry of Mineral Resources and Petroleum, said five mining concessions are expected to be tendered, namely of diamond in eastern Lunda Norte and north-eastern Lunda Sul, of iron in northern Cuanza Norte and of phosphate located in northern Cabinda and Zaire provinces.

London will be the final destination of roadshows designed by Angolan government to be a showcase for the projects it intends to advertise internationally to lure interest of investors.

Speaking to the press on the sidelines of the first event held in Luanda, the minister of Mineral Resources and Petroleum, Diamantino de Azevedo, explained that the date for the holding of international tender will be announced in October, with aim to give it major transparency in the management of the country’s economy.

The Mining Code (2011) establishes that concessions in which there is qualified technical information, should not be granted directly, but acquired through a tender, explained the official source.

Diamantino de Azevedo added that another roadshow for the auctioning of new oil blocks located in Namibe and Benguela basin are due to be held on September 3 in Luanda, further, in Houston, London and Dubai.

Source: Angola Press News Agency