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Wed, 05 Feb 2020 11:15 - Updated Wed, 05 Feb 2020 11:15

Minister calls for investment in mining sector

Luanda - Angola's minister of Mineral Resources and Petroleum, Diamantino Azevedo, on Tuesday in Cape Town called for more foreign investment in the Angolan mining sector.

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Diamond field

Photo: Henri Celso

The minister made the appeal  at the opening of Angola day at international mining fair (Indaba Mining).

Assessing Angolan diamond sector, the minister said that Angola is an “elephant” in terms of mining potential, so he called for investors present at the fair to invest in the country.

Azevedo explained that the Angolan government has outlined a programme to diversify the country’s economy, in addition to oil, being mining sector part of the economic diversification process through private investment.

The mining sector is looking for companies to help materialise this aim, that is why it invites all major international companies to invest in this sector in Angola, the minister said.

The Home Ministry and of Mineral and Petroleum Resources have created a post to grant visas to investors in the mineral resources sector, as part of Angola’s intention to boost investment in this field, the country’s official said.

He noted that the new private investment law provides investors with multiple facilities and Angolan institutions will provide all necessary support to investors.

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