ASX-listed Tyranna Resources has taken a significant step in its Angolan expansion strategy, signing agreements to acquire a 70% interest in the historic Maongo copper-gold project.
Located just 25 km northeast of Namibe's port infrastructure, the 269 km² concession is poised for imminent approval by Angolan authorities.
The project area reveals Angola's rich mining heritage, featuring extensive pre-independence workings including three major underground mining complexes, ore treatment sites, and numerous secondary mines.
Situated in accessible flat terrain near the Namibe-Lubango transport corridor, the site benefits from proximity to the Caraculo solar power station, offering potential renewable energy solutions for future operations.
Tyranna Managing Director David Crook emphasised the project's alignment with the company's focus on demand-driven metals in Angola.
“The Maongo project is the first to meet our criteria, where prospectivity for copper and gold is evident in an area with good access, in an uncomplicated operating environment,” he said.
“The sites of mining and treatment artefacts were confirmed by company field staff during our due diligence period and concession approval documentation is currently being advanced with the Agência Nacional dos Recursos Minerais (ANRM), Tyranna’s 30% partner OCJAF and the company’s 70% Angolan subsidiary Maongo.”
Concession approval is expected in the third quarter of 2025.
The Maongo district's mineral potential was first recognised in the early 20th century, with documented mining activities dating to the 1920s.
The three principal mining clusters—Vimpongos, Maongo, and Cacimba—feature extensive underground development, including an 85-meter shaft, colonial-era processing infrastructure, and numerous exploration trenches. While historical records remain fragmentary, these workings confirm the area's mineral endowment.
Tyranna's acquisition follows an extensive 2024 review of Angolan opportunities, incorporating government geological data and advanced remote sensing analysis. The company has established its operational base in Namibe, positioning itself for efficient project advancement.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
