Angola Invests 48.6 Mln USD In Gold Exploration Since 2019: Official

Angola has invested 48.6 million U.S. dollars in gold exploration since 2019, a national regulator of the mining sector said Tuesday

LUANDA, Oct. 27 (UrduPoint / Pakistan Point News - 27th Oct, 2021 ) :Angola has invested 48.6 million U.S. Dollars in gold exploration since 2019, a national regulator of the mining sector said Tuesday.

Joao Chimuco, executive administrator of Angola's National Agency of Mineral Resources, told a seminar that the amount is part of a 278.6-million-U.S.

-dollar package to be invested until 2022, and the country now has 24 prospecting projects.

The Geological Institute of Angola has sent technicians to visit mine sites to standardize mining procedures and develop a framework for gold commercialization, he said.

Chimuco also highlighted the need for restrictions on granting mining rights, as many companies have mining titles, but lack the financial, technical or operational capability.