Ferrangol terminates its concessionaire role

Sumbe – Ferrangol-EP announced that it will exclusively focus on the production of iron metals, as part of restructuring and adjustment programme of Ministry of Mineral Resources and Petroleum (Mirempet).

Ferrangol-EP is currently a concessionaire for metallic mineral resources (Fe, Au, Pb) similar to Sonangol (Oil and gas) and Endiama (diamonds).

Under the restructuring programme, the three companies will no longer be a concessionaire in order to focus on their core business.

Speaking to the press on the sidelines of Scientific activity of Mirempet held in Cuanza Sula province, the minister Diamantino Azevedo said that the intention is to find solutions that contribute to the sustainability and growth of the iron production industry in Angola.

He said that the restructuring programme makes Ferrangol EP more competitive and profitable.

The move will ensure focus on the primary value chain, accordingly with international quality standards, after which the company will suspend the role of concessionaire and launch its regeneration programme focused on the main business, he said.

The restructuring of Ferrangol, according to Diamantino Azevedo, will contribute to the improvement of iron production performance.

It will also boost and enhance the activity in the country in the medium and long term and promote exploration, research and development of the sector.

The move is also intended to promote the increase of productive capacity and reduce dependence on imports.

Ferrangol is a public company tasked with managing and controlling the production of iron ore in Angola.

Ferrangol was created in 1981 to manage the Cassinga mines.

The company resumed its production in 2017 after it stopped its works due to the armed conflict.

The company runs three large iron ore concessions in Cassinga, Huila province, and manganese and gold in the Cassala-Quitungo region.

Source: Angola Press News Agency