Multinational Rio Tinto to explore base metals in Angola
The Angolan Government and the Anglo-Australian multinational Rio Tinto Explotation LTD will sign, next Wednesday, January 17th, a mining investment contract, for the prospecting and exploration of base metals.
According to a source from the Ministry of Mineral Resources, Oil and Gas, the project called “Moxico Concession” is located in the province of Moxico, and has an extension of 9,959 square kilometers.
Operations in Angola
Last year, the Australian multinational Rio Tinto, the second largest minerals company in the world, began prospecting operations for kimberlites and diamonds in the commune of Chiri, Lunda-Norte province.
The four-year prospecting phase takes place in a 75 hectare or 108 square kilometer mine, under the terms of a mining investment contract in the Chiri kimberlite signed between the Ministry of Mineral Resources, Oil and Gas, Endiama and Rio Tinto .
Prospecting consists of evaluating the land and its resources, which can be extended for another four years, upon renewal of the investment contract established for a period of 35 years, with shares of 75 percent for the multinational and 25 percent for the Angolan state diamond company, Endiama.
NEW READ: ANGOLA: GOVERNMENT AND RIO TINTO SIGN INVESTMENT CONTRACT TODAY
