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Wed, 20 Nov 2019 18:15 - Updated Wed, 20 Nov 2019 18:15

New contracts boost mining sector

Luanda - Investment contracts, in a total of five, in diamond-cutting, diamond prospecting and iron exposition were signed on Wednesday by international investors, a step that could contribute to Angola's economy.

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New contracts boost mining sector.

Photo: Francisco Miudo

The contracts were signed at the 1st International Conference and Exhibition on the Mining Sector, an event held by the President of the Republic, João Lourenço.

This is the Memorandum of Understanding signed between Sodiam E.P and Blue Glaier agreeing to invest in the installation of a polishing mill at the Saurimo Development Pole (Lunda Sul), where it plans to invest USD 36 million over the first three years.

Another agreement was made between Sodiam in partnership with Endiama E.P and Tosyali Holding, which will also bet on a diamond-cutting factory at the Saurimo Pole.

Tosyali Holding signed another mining investment contract for the Kassinga steel project in Huíla province, inoperative since the 1970s.

Russian company Alrosa is another multinational company that has signed another agreement with Endiama E.P in the field of diamond prospecting.

AngloAmerican will also invest in the mining sector in Angola.

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