Mining Projects Reach to U.S $ 1.580 Million

Luanda — The identified mining projects and ready to start in Angola will require an investment of 1,580 million US dollars, announced the minister of Geology and Mining, Francisco Queiroz, in an interview to the newspaper "Expansão". 

 In the interview, published in the last Friday edition, April 22, the official also revealed that, in general, the projects will create 6,600 jobs.

It is, firstly, the iron exploration project in Cutato-Cuchi, Cuando Cubango province, with an initial investment of USD 250 million, which will generate 3,500 jobs.

The phosphate mining project in Lucunga, Zaire province, to start later this year, will involve a financial outlay of USD 250 million and will generate 300 jobs.

Mining Projects Reach to U.S $ 1.580 Million

As for gold exploration in Mpompo, Huila province, the project is well advanced and will involve an investment of USD 280 million and will create 300 new jobs.

There is, finally, the projects linked to diamond mining, with Luaxi in Lunda Sul, the head, which, according to the minister Francisco Queiroz, will be the largest of Angola diamond mine and one of the world's largest, with planned investments of USD 800 million and 2,500 new jobs.