The inauguration was carried out by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and the governor of Cabinda, Mara Quiosa. "The project for gold exploration in Cabinda, with an estimated annual production of 3900 ounces per year in secondary deposits, was inaugurated this Monday, by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo and Governor Mara Quiosa" , informs the Ministry of Mineral Resources, Oil and Gas, in a statement to which VerAngola had access.
Speaking on the occasion, the holder of the Mineral Resources, Oil and Gas portfolio stated that, "with the beginning of this gold production activity, the mineral resources subsector makes its contribution to the increase in tax revenue collection, to the process of economic diversification, generate more jobs, stimulate direct foreign investment in the country, open the way for the transformation of gold as an instrument of monetary reserve and boost exports, allowing the collection of foreign exchange for the country", reads the note.
Diamantino Azevedo also mentioned that in the project "it is possible to observe compliance with safety and environmental protection standards", and also called on the promoters to establish "a commitment to local development", through the creation of jobs, especially for young people, as well as as "promotion of other economic activities".
"In this project, it is possible to observe compliance with safety and environmental protection standards. Therefore, we are convinced that this operation will become a reference in terms of good practices and respect for the environment, both for new projects that in the near future may emerge in this province, like others being implemented in other parts of the national territory. I appeal for the continued support of local and traditional authorities for the gold project so that we can all be proud to be writing a new story about our country's economy", he stated, cited in the note.
The project – which is located in the municipality of Belize, covering an area of 375.01 square kilometers – is under the responsibility of Sociedade Mineira de Lufo.
According to the authority, the project "has a total of 248 employees, of which 238 Angolans, 10 foreigners, and also 15 thousand tree seedlings, of 18 species for the reforestation of areas to be impacted, as well as monitoring parameters physico-chemical of the river waters surrounding the mine".
In terms of investment, the statement said, from 2015 to 2023 "15.2 million dollars have already been invested".
This venture is the second in the aforementioned province, after Sociedade Mineira de Buco Zau.