Luanda: Traceability, transparency, and best socio-environmental practices across the value chain of Angolan minerals are set to be further strengthened through a technology platform based on a set of digital data grouped into a chain known as 'blockchain'. The initiative is being led by the Angola Chamber of Commerce and Industry of Gas, Oil and Minerals (CCIGPMA) and Belgian company iTraceit, which signed a memorandum of understanding in Luanda on Wednesday aimed at providing the country's mineral resources with a 'digital passport' identifying their origin and destination.
According to Angola Press News Agency, the terms of the memorandum seek to enhance the competitiveness of Angolan products in international markets by ensuring strict compliance with global standards on compliance, governance, and social responsibility. CCIGPMA President Isabel Fonseca said the adoption of the technology adds value to Angola's natural wealth and brings the extractive sector into line with the requirements of major global buyers. "The country must continue to strengthen and add value to its minerals and align itself with international best practices. This technology therefore enables the recording of operations and the tracking of assets across business networks, ensuring data integrity and transaction security," she stressed.
Speaking to the press, Fonseca highlighted that traceability makes it possible to demonstrate that diamonds and other minerals come from transparent and responsible projects that respect local communities and generate a positive social impact. She also noted that approximately 95 percent of Angola's diamond production already uses iTraceit's traceability technology, covering around eight major mining companies.
For her part, iTraceit's Director of Development and Business, Jeniffer Moriconi, emphasized that software-based tracking serves as an essential market tool for attracting investors and buyers. "Our technology ensures the connection of information from the mine and manufacturing stage through to the final brands in international markets," she said. She explained that the objective is to enable Angolan companies, from small to large enterprises, to demonstrate their commitment to global standards and be rewarded for their efforts towards transparency.
Regarding the new agreement, Moriconi mentioned that CCIGPMA and iTraceit intend to extend the use of the digital ecosystem to other strategic and critical minerals, including gold, lithium, copper, cobalt, and manganese, while also promoting training and technical support for member companies in the coming months.
Main Commitments under the Memorandum
Under the agreement, the Angola Chamber of Commerce and Industry of Gas, Oil and Minerals (CCIGPMA) will lead the mapping of international investors, including Sovereign Wealth Funds, private equity firms, and other institutions, structure financial models based on traceability data, and manage global negotiations. iTraceit, meanwhile, will be responsible for identifying eligible projects on the ground, conducting mandatory compliance and traceability audits, and implementing the blockchain technology platform for real-time data validation. The parties will also promote joint initiatives, establish a shared project management platform, and organize international investment missions to major global financial centers, including London, Dubai, and New York.
