Canadian mining company, Ivanhoe Mines, formalized a mining investment contract (MIC) with Angola’s National Agency of Mineral Resources last Thursday in Luanda, securing greenfield prospecting rights for exploration in Angola.
The contract covers 22,195 km2 of greenfield acreage for copper exploration within Angola’s Moxico and Cuando Cubango provinces. Ivanhoe Mines will kick-start activities in the first quarter of 2024 for an initial period of five years.
“Our goal is to make Angola a globally significant producer of strategic minerals that our planet so desperately needs, for many generations to come,” said Ivanhoe Mines Founder and Executive Co-Chairman, Robert Friedland.
The MIC is one of several recent examples of Angola’s growing collaboration with foreign partners across its critical minerals value chain. Last week, the Geological Institute of Angola and the United States Geological Survey signed a Memorandum of Understanding to jointly map Angola’s copper, lithium, cobalt, manganese and other critical mineral reserves.