The project, called “Moxico Concession”, is located in the province of Moxico and covers 9,959 square kilometers.
According to a recent survey by the Geological Institute of Angola (IGEO), all national provinces have mining potential. Base metals are abundant in nature and easier to extract than precious metals and include, among others, iron, copper, nickel and zinc.
This is the second contract that the multinational has signed with the Government, after having entered the country in 2021, through the Ministry of Mineral Resources, Oil and Gas in President João Lourenço's first term.
At that time, Rio Tinto signed an investment agreement with the state-owned diamond company Endiama regarding the Chiri diamond concession, located in the Province of Lunda-Norte, with production expected within a period of five years.
The exploration area that was the subject of the understandings reached in the various negotiating rounds carried out with Rio Tinto, since April 2019, has an extension of 108 square kilometers, with an exploration period of 35 years, with 25 percent of the capital falling to Endiama and the remaining 75 percent to Rio Tinto.
Rio Tinto has headquarters in London (United Kingdom) and Melbourne (Australia), and is represented in more than 20 countries.
