In a press release, Capital Mining, Lda, holder of the prospecting license, and Omega Mining Limited, part of the IRH group in the United Arab Emirates, say that the reserves of this ore are being reassessed, for the start of exploration.
Speaking to the Lusa news agency, Hélder Milagre, from Capital Mining, Lda, said that national and foreign geologists are on the ground surveying data on the mine's deposits, located in Lucala, Cuanza Norte province.
Hélder Milagre underlined that, as of 2021, research and prospecting work had already been carried out, which makes it possible to speed up the reassessment, which could take around a year.
According to the official, "it is still early" to advance in financial terms the investment necessary for the operation of the mine.
"Because there is still work to be done before the technical and economic feasibility study to know exactly the amounts to be involved", he said.
The partner highlighted the importance of joining Omega Mining, Limited, which "brings a lot of added value, the first being the 'know-how'".
"The chief geologist is what the industry calls a competent geologist, that is, his signature is sufficient to be accepted in all international markets, the exchanges even accept the signature of the chief geologist because he is a competent person in terms of geology," he said.
Hélder Milagre noted that in addition to technical capacity, the company brings its financial capacity.
The businessman pointed out that this is the third iron exploration project in the country, which joins those existing in the provinces of Huíla and Cuando Cubango.