Luanda: Angola's first gold refinery, capable of processing around 20 kilograms daily, is slated to commence operations in the first half of this year. This was announced by Paulo Tanganha, the National Director of Mineral Resources, during the technical and scientific conferences marking Mining Workers' Day.

According to Angola Press News Agency, the announcement highlighted ongoing commissioning work and technical adjustments aimed at increasing gold production to adequately supply the refinery. This development is part of a broader strategy to bolster the country's economic diversification. Paulo Tanganha emphasized the significant strides made by the mining sector in achieving and surpassing the targets outlined in the National Development Plan (2023-2027). Notably, Angola has surpassed Botswana, Africa's largest diamond producer, by achieving 15 million carats of diamond production by 2025.

Despite the prevailing low diamond prices on the international market, Angola continues large-scale production, implementing internal strategies to secure the mining sector's sustainability. Tanganha pointed out Angola's substantial geological mining potential for future discoveries of large kimberlite pipes, which promise continued diamond production.

The mining subsector in Angola currently contributes over 2% to the national Gross Domestic Product (GDP), with a broader impact of more than 30% when factoring in mineral resources, oil, and gas. Tanganha clarified that the calculation of the sector's GDP contribution is complex, as it also impacts other economic sectors.

The growth of Angola's mining segment is attributed to the diversification of production, including the exploration of iron, copper, niobium, and manganese, alongside traditional diamond and ornamental rock mining. The production of phosphate and rare earths is anticipated to start in 2027. Currently, the mining subsector employs over 50,000 workers and has issued 60 mining licenses for prospecting and exploration.