Angola: Mineral Resource Exports, Excluding Diamonds and Oil, Total Only $83 Million

Commercial exploration of five minerals generated a revenue of $2.0 billion in 2022. Diamonds account for the majority, representing about 96% of the production. Ornamental rocks, pig iron, gold, and manganese make up the remaining 4%.

Export numbers for mineral resources in 2022, excluding diamonds, oil, and gas, were relatively low. According to data from the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET), the total gross revenue from mineral exports, for the year, amounted to just $83 million.

MIREMPET estimates that there are at least 35 of the world’s approximately 45 most important minerals beneath Angola’s soil. Notable among them are diamonds, phosphates, bituminous substances, iron, copper, magnesium, manganese, lithium, gold, and ornamental rocks.

In the previous year, in addition to diamonds, oil, and gas – the most traded minerals, Angola commercially explored ornamental rocks, gold, pig iron, and manganese, with other mining projects underway for rare earths, lithium, and phosphate. The country is only exploiting four out of the 35 globally marketable strategic minerals, representing just 11% of its potential.

Experts suggest that the focus on oil and diamond exploration has hindered the development of other strategic minerals. However, Jacinto Rocha, the CEO of the National Agency for Mineral Resources, stated in an interview with Expansão that the restructuring of the mining sector is attracting more investors to minerals beyond oil and diamonds.

Rocha assured that companies like AngloAmerican and Rio Tinto are investing in prospecting dense areas and phosphate production in the provinces of Cuando Cubango and Moxico. This is seen as a new perspective for a sector that can generate substantial revenue for the state.

Ornamental Rocks

According to the ministry’s data, in 2022, ornamental rock production increased by 82.0% to 156.8 thousand cubic meters compared to the same period in 2021. During the analysis period, black and brown granite were the most produced products, accounting for approximately 85.67% and 9.56%, respectively. In the past year alone, the country produced 134.3 thousand cubic meters of black granite, compared to 74.3 thousand cubic meters recorded in the same period the previous year, representing an 80.5% increase over the total produced in 2021. Therefore, the average annual production growth rate for ornamental rocks was approximately 30.0%, indicating large-scale exploitation, positioning the country among the major producers of this resource.

In terms of geography, the majority of ornamental rock production was concentrated in the Huila province, which held 96% of national production. According to the document, the province produced approximately 150.5 thousand cubic meters of various rock types in 2022, a 99.5% increase compared to 2021.

In 2022, 167.3 thousand cubic meters of ornamental rocks were exported, with a total value of 32.5 billion Kwanza (approximately $71.3 million USD), at an average weighted price of 193.9 thousand Kwanza per cubic meter.

The companies Hipermáquinas Granitos, with about 52.04% of production, and Angostone, with 8.61%, were the top producers of ornamental rocks last year. Hipermáquinas, which holds mining concessions in the provinces of Cuanza Sul, Huila, and Namibe, produced 81.5 thousand cubic meters in 2022, a 196.3% increase compared to the 27.5 thousand cubic meters from the previous year. Angostone, with two mines, one in Huila and another in Namibe, managed to extract approximately 13.5 thousand cubic meters of various rocks, compared to the 1.5 thousand cubic meters in 2021, according to the MIREMPET’s report.