A contract has been signed between the Angola National Agency for Mineral Resources (ANRM) and the Canadian company Ivanhoe to prospect for copper minerals in the provinces of Cuando Cubango and Moxico.
The agreement was signed on Thursday at the second edition of the Angola Mining Conference in Luanda, with ANRM chief executive Jacinto Rocha representing the organisation and Ivanhoe president Marna Cloete representing the mining company.
Initial funding for the investment totals $6 billion.
According to Cloete, Ivanhoe will open offices in Angola soon after which there will be geological exploration and research.
She said that her company's operational framework in each country was predicated on community service.
“As for the company our motive is mining; the biggest purpose is not just about making profits; it is also about impacting communities,” said Cloete.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
