Angola wants financial system committed to mining sector

  • Lavaria de diamantes de Kaixepa
Luanda - The director for Studies and Statistical Planning of the Ministry for Mineral Resources, Alexandre Garrett, said Wednesday that development of the mining sector requires the "robust" commitment of the national and international financial system.

Angola has vast mineral potential, which if fully exploited, he said, would make a significant contribution to the economic development of families and the country in general.

According to the official, who was speaking at the Banking and Mining Forum, such dynamic exploration of minerals depends on bank funding because an efficient financial system is essential for the growth of any economy, especially an emerging one such as Angola.

"As the mineral resources sector is of capital intensive (prospecting, exploration and marketing), there is a need for active players to explore the value chain, with a robust and interested local and international financial sector," he said.

He also said that Angola's geological and mineral resources were a strategic asset, which had yet to be prospected and explored in the country's extensive national territory, and thus, in order to improve knowledge of that potential, the government was implementing a new management system for the country's mineral resources.

 

Angola has vast mineral potential, which if fully exploited, he said, would make a significant contribution to the economic development of families and the country in general.

According to the official, who was speaking at the Banking and Mining Forum, such dynamic exploration of minerals depends on bank funding because an efficient financial system is essential for the growth of any economy, especially an emerging one such as Angola.

"As the mineral resources sector is of capital intensive (prospecting, exploration and marketing), there is a need for active players to explore the value chain, with a robust and interested local and international financial sector," he said.

He also said that Angola's geological and mineral resources were a strategic asset, which had yet to be prospected and explored in the country's extensive national territory, and thus, in order to improve knowledge of that potential, the government was implementing a new management system for the country's mineral resources.