Angolan Official Says Mining Industry Undergoing Deep Change
January 18, 04
The Angolan mining sector is undergoing profound restructuring, the deputy minister for Geology and Mining Samuel Tito Armando said on Thursday at celebrations to mark the 23rd anniversary of state-owned diamond company Endiama.
Among the objectives of the restructuring are efforts to discover the full extent of the country’s diamond potential, promoting a stable and simplified legal framework and promoting the development of the diamond industry.
This will aim to increase productivity and competitiveness, integration in the process of regional development and reducing damage to the environment.
Armando said it was possible there would be increased investment in research which would help the process of generating new mineral deposits and their economic benefits.
Armando said mining did not provide immediate benefits due to the lag time between discovery and the start of production.