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Angola Will Open Rare Earth Mine

The date of: 2019-04-30
viewed: 4

Source:Prensa Latina

Luanda, Apr 29 (Prensa Latina) Angola will put into operation a rare earth mine next year in the town of Longonjo, in the central province of Huambo, news reports said on Monday.

The studies between the state company Ferrangol and the Australian company Pesana determined the presence of about 23 billion tons of valuable metals known as rare earths, very useful in the production of mobile phones and other high-tech media.

Considered the gold of the 21st century, these minerals have physical-chemical properties that allow them with other alloys to conduct heat, electricity and magnetization capacity, useful in high-tech devices.

The exploitation of the land will last from 10 to 20 years after 200 wells were opened at 35 meters depth, said Timothy George, managing director at Ozango Minerais S.A., the company created by Ferrangol and Pesana.

However, George did not mention numbers on the investment nor the value of the metals discovered, which will be extracted as raw material.

Although Angola has no capacity for marketing the rare earth internationally, the company will do the concentrates and create conditions for buyers to acquire it in the local market, at an approximate value of 60 dollars per kilogram, he remarked.

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