The contract, which was approved by order of the Ministry of Mineral Resources, Oil and Gas, establishes the attribution of mining concession rights to Manico Henda Group. According to the document, the company will have to pay a deposit of about one percent of the total value of the investment, set for this phase at 281 million kwanzas.
According to the dispatch of the guardianship, cited by Expansão, the contract is valid for two years, but can be renewed several times successively. The contract also foresees that, while the prospection period lasts, the holder of the rights will have to pay an area fee.
If the prospecting has positive results, the company may proceed to a second phase that integrates the opening of mines and the granting of exploration rights by the ministry.
The Huambo concession is composed of an extension of 2326 square kilometers and extends through the municipalities of Catchiungo and Tchicala-Tcholohanga.
Manico Henda was created in 2008 with a capital stock of 90 thousand kwanzas. Besides the mining sector, the group also works in the area of education, being the owner of the Kangnjo Polytechnic Higher Institute (ISKA).
Along with Manico Henda Group, the ministry, in another dispatch, also approved the delivery of the mining rights of recognition, prospecting, research and evaluation of copper in Namibe to the Indian company Kamakhya Mining and the rights of gypsum exploration in Barra do Dande, Bengo, to Lutet Group.
The Ministry of Mineral Resources, Oil and Gas considered that these contracts "reflect the strong government support for national and foreign investments that help diversify the economy and bring direct social and economic benefits to the communities in which the companies operate.