Ver Angola

Raw Materials

Diamantino Azevedo: critical minerals guarantee foreign investment and must be developed in Angola

The critical minerals known in the country will guarantee greater foreign investment in the sector. The consideration was made by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who also underlined that they want “a significant part of their value chain to be developed” in the country, aiming at the development of the economy and “job creation”.


In the exploration of the mentioned minerals "the Executive requires that a significant part of its value chain be developed in Angola, to allow the growth of the economy and the creation of jobs", said the official, when speaking this Monday at the workshop on "Environmental Sustainability in Oil Activity Towards Energy Transition", carried out by the Government through the Ministry of Mineral Resources, Oil and Gas and by the Catholic University of Angola.

The holder of the Mineral Resources, Oil and Gas portfolio also referred that minerals play an essential role in the manufacture of batteries for electric cars, mobile phones, planes, solar panels, spacecraft and building wind turbines, which is why the Government is dedicated to attracting investors to these resources, considering the challenge of not depending on the oil domain, writes Angop.

Oil and natural gas remain the main bases of the country's economy, with a contribution of 24 percent to the Gross Domestic Product and around 96 percent of exports, said the minister, who added that this is a scenario that if you want to modify.

On the occasion, Diamantino Azevedo also defended that "the promotion of all initiatives should start with the holding of national conferences, involving universities to discuss and frame matters such as renewable energies and energy transition in their academic programs".

"In the new paradigm of societies, nobody should be left behind, least of all the academy, since we have to be daring, insightful and proactive", explained the official, quoted in a statement from the ministry to which VerAngola had access.

In addition, the minister said that he would be satisfied "if the Angolan academy, in general, and the Catholic University of Angola, in particular, took initiatives aimed at training staff in the areas of renewable energies and, perhaps, forming partnerships with national companies and international institutions for the development of scientific and technological innovation projects", reads the note.

Among other matters, Diamantino Azevedo took the opportunity to inform that the Government, through the ministry he supervises, is implementing measures that lead to the mitigation of climate change and the reduction of the carbon footprint, complying with the conditions of the Paris Agreement, whose country is a subscriber. In this sense, he added that the strategy has inscribed the strengthening of environmental protection, as well as a governance that guarantees the environmental and social sustainability of oil exploration in the country for several years, writes Angop.

Minister suggests mechanisms to stop oil production decline

Diamantino Azevedo suggested some mechanisms to stop the decline in oil production, such as reforms in the regulatory framework and the exploration strategy, as well as prospecting.

The official considered that if the President of the Republic had not adopted measures from 2017, possibly the country's current oil production would be below one million barrels a day, writes Angop.

"Interventions in the business environment in this sector, the bidding of blocks and the strategy of exploring and prospecting for more oil on offer aim to mitigate the decline and maintain stable production levels for the coming years," said the official, quoted by Angop. , when he was speaking within the framework of the 'roadshow' session for the award of the 12 oil blocks in the Kwanza and Congo Onshore Basins.


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