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Angolan Diamond Exchange kicks off on trial in 2022

The Minister of Mineral Resources, Oil and Gas announced that the Angolan Diamond Exchange should start experimentally in 2022, the conditions of which are being created so that it is "attractive and competitive".

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According to Diamantino Azevedo, the governing body hired a former president of the Antwerp Diamond Exchange, who already works with national staff to implement the exchange aiming at "reinforcing the role of Angola" in the commercialization of the diamonds it produces.

"For this purpose, a working group was created and we hired a consultant with a lot of experience, he was already president of the Antwerp Diamond Exchange and he helped to create the Dubai Diamond Exchange, and with these experiences and with our specialists we are working in the creation of this scholarship ", affirmed the government official.

The Minister of Mineral Resources, Oil and Gas was speaking in Luanda, within the scope of a "Forum on Business Opportunities in Angola in the Mining, Oil and Gas domains" addressed to the diplomatic corps in the country.

Diamantino Azevedo pointed out 2022 as the time horizon for the experimental start of the Angola Diamond Stock Exchange activities, "if conditions permit", referring that "the creation of a stock exchange is not only done by decree".

"We have to create all the conditions for it [exchange] to be competitive, because in the world there are several diamond exchanges and some with a very high organization and competitiveness factor", he noted.

"And then, if we want to create the scholarship, we have to look at all these factors and have all the necessary instruments for a scholarship with a high level of quality and efficiency", he stressed.

Companies and agencies in the mineral resources, oil and gas sector this Friday presented diplomats accredited in Angola with the investment potential, with the Angolan authorities guaranteeing "security" for investors.

More than 28 companies, small, medium and large, Angolan, foreign and in partnership, are prospecting for gold in Angola, namely in the provinces of Huambo and Huíla, with two exploration projects already in operation.

Diamantino Azevedo congratulates investors operating in the country, in the segment of solid mineral resources, noting that several national and foreign companies are already working on prospecting for copper, lithium and rare earths.

"But, the important thing is also to say that prospecting is an activity that needs time, high risk and high investments, so, little by little, we start to have results from these projects", he pointed out.

The official also announced that a manganese mine, located partially in the provinces of Malanje and Cuanza Norte, will be inaugurated in April, as a result of the first public tender for the granting of mining rights.

The ministerial body that directs, underlined, has already negotiated and granted a license for the phosphate project in Cacata, Cabinda province, is negotiating a phosphate project in Zaire province and an iron project in Cuanza Norte province.

"There are a number of projects underway and we have to be patient," asked Diamantino Azevedo.

At the ceremony that took place at the headquarters of the Geological Institute of Angola (Igeo), in Luanda, the Ministry of Mineral Resources and Petroleum and the administration of Igeo signed cooperation protocols with Japan Oil, Gas and Metals National Corporation (Jogmec).

Diamantino Azevedo, Canga Xiaquivuila, chairman of the board of directors of Igeo, and the Japanese ambassador to Angola, Jiro Maruhashi were the signatories to the memoranda.

"There were two instruments, one ministerial and the other with Igeo to further strengthen this cooperation, making this institution work with Igeo to improve geological knowledge in some areas already defined in the country to be more attractive to investment" concluded the minister.

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