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Luanda — Angola and Zimbabwe signed last Monday, in Luanda, a memorandum of economic co-operation in the mining sector, aiming for research, prospecting, exploration, technical and technological support from the former to the latter. The agreement was signed by the Angolan Minister of Geology and Mining, Francisco Queiroz, and Mines and Mining Development Minister Walter Chidhakwa, in the presence of senior cadres from both countries.
Under this protocol, henceforth Angolan firms will be able to invest in Zimbabwe and the mineral resources can be taken to Angolan laboratories for chemical and geochemical tests.
Francisco Queiroz explained that Zimbabwe has a great potential in the diamonds sector, so Angola would like to explore this natural resource in that country.
Minister Chidhakwa said Angola has experience and potential in the minerals exploration sector which could help Zimbabwe to grow and become a regional reference.
This has come at a time when Zimbabwe is aggressively seeking to attract investors in the mining industry.
Angola’s Catoca, one of the world’s largest diamond producers, is expecting to start exploring two fields in Zimbabwe next year following a mining agreement signed between the two countries on Monday.
Angola is the world’s fourth-largest diamond producer by value, and sixth by volume, but the government is keen to boost exploration activity both at home and overseas.
Angola’s diamond industry, which began 100 years ago under Portuguese colonial rule, is dominated by the Catoca mine, the world’s fourth-largest.
Russia’s Alrosa and Angola’s state-owned Endiama each own 32,8 percent of the mine, which is responsible for about three-quarters of the diamonds extracted in Angola. —Angola Press.
Online Reporter