Africa-Press – Angola. The multinational Rio Tinto invested five million 668 thousand and 400 dollars (one dollar is worth kz 828,348) in the project for the production of basic metals, including zinc, copper, titanium and aluminum, in the province of Moxico.
The information was provided Wednesday, by the representative of the Negotiation Committee of the Ministry of Mineral Resources, Oil and Gas (MIREMPET), Mara de Oliveira, when she gave a brief review of the negotiation with RioTinto, at the time of signing the contract.
The official made it known that the production of basic metals will be carried out in the municipalities of Alto Zambeze and Bundas, in Mexico, over an area of 9 thousand 887, 661 square kilometers.
He explained that the State’s participation in the project is 0.1% of the product in kind, under the Mining Code, with tax incentives valued at 20 percent, as an investment premium, and a three-year grace period.
For his part, the general director of Rio Tinto Angola, Canga Xiaquivuila, considered the contract as a new cycle for the multinational in Angola, as it will operate in one of the fundamental mineral resources for the energy transition, in the province of Moxico.
The project, he pointed out, will have an impact on the socio-economic development of Angola, with the collection of revenue, as well as the generation of new local jobs.
He made it known that base metals are necessary for the production of clean and renewable technologies, contributing to the diversification of mining activity in Angola.
“Rio Tinto intends to be a strategic partner of the Angolan State for the development of the Mineral Resources sector, with the exploration and transformation of materials that the world needs to grow and decarbonize economies, find mutual gains and new opportunities”, he highlighted.
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, was satisfied, mainly with the local recruitment that the project will provide for youth.
The government official also praised the fact that the project implies the diversification of the sector and, consequently, the country’s economy.
According to the minister, the agreement is a relevant act, due to the agreement with one of the largest global mining companies, working with commodities that allow for the continued development of the planet, as well as improving the quality of life of the populations, which will also facilitate the energy transition.
The Rio Tinto Group is an Anglo-Australian conglomerate, with its head office in London, United Kingdom. It produces iron ore, copper, aluminum, coal, titanium dioxide, uranium and diamonds.
The group has operations in more than 20 countries on five continents: North America, Oceania, South America, Africa, and Europe.
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