Angola’s first gold refinery is expected to be inaugurated by the end of the year, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, announced today in London.
“Later this year, we expect to inaugurate Angola’s first gold refinery, a milestone in our strategy to promote local benefit and value creation,” he said during the opening.
The refinery, financed by Endiama and located in the Viana Industrial Park, will have a planned production capacity of up to 25 kilograms of refined gold per day.
The infrastructure was announced in 2022 and should have been completed earlier, but it suffered repeated delays according to officials speaking at the investment conference held today.
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“Our goal is not just extraction, it is transformation,” emphasized the minister, who also mentioned the expansion of diamond cutting and polishing capacity within the country recently. Azevedo also revealed that an industrial hub for ornamental stones is currently under development to further diversify the national mineral sector and its economic impact for the population.
“Our long-term ambition is clear: transform iron ore into steel, transform gas into fertilizers, expand diamond cutting and jewelry production, and develop intermediate mineral processing industries in Angola.”
The conference, held at a hotel in the British capital, is attended by investors, industry operators, and specialists focused on the evolving opportunities within the Southern African nation.
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Members of the Angolan Executive, leaders from Sonangol, Endiama, SODIAM, the National Mineral Resources Agency, and the National Oil, Gas and Biofuels Agency were present at the meeting. In addition to promoting opportunities in oil and gas exploration, the conference aims to enhance the area of mineral resources which are vital for the country’s future growth.
“In addition to being one of the world’s leading diamond producers, Angola already produces gold, manganese, quartz, ornamental stones and pig iron, having resumed copper production last year.” The minister also said there are “projects related to niobium and rare earth elements, whose production should start soon” as the government seeks to expand its global reach.
Lithium, phosphates and other strategic minerals “place Angola in the emerging global value chains of electric mobility, advanced manufacturing, renewable technologies and digital infrastructures,” the minister added today. During his stay in London, Diamantino Azevedo spoke at the Africa Energy Summit on Tuesday and met on Wednesday with leaders of the oil company BP regarding current operations.
BP has several investments underway, namely “Project Paz” for oil extraction in Block 31, valued at approximately five billion dollars, which remains a cornerstone of the energy partnership.
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These discussions aim to strengthen the relationship between international energy giants and the Angolan state to ensure sustainable development and technological transfer for the mining and oil sectors.
