A Brazilian-Angolan national, Valdomiro Minoru Dondo, is set to invest $500 million to help jump-start gold mining in northern Angola.
This comes three years after Luanda started issuing new licenses to explore precious metals.
“The first step was to prove that there’s gold and that it exists,” Valdomiro Minoru Dondo was quoted as saying by Bloomberg.
Significant quantities of gold were found in Angola after the government approved new gold mining concessions in 2018.
The government of President Joao Lourenco had been pushing for the diversification of the economy from oil and diamonds.
Dondo has also invested in Angola’s oil and diamond sectors.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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