Angola does not plan to pursue punitive measures against mining companies such as export quotas or bans in order to bolster its domestic mining industry, a senior minerals minister said.
Speaking to reporters in London, Diamantino Pedro Azevedo said Luanda would instead “prepare conditions to attract investment … so the private companies can come and set up factories.” The approach contrasts with that pursued by African countries such as DR Congo and Zimbabwe: They have implemented quotas on foreign sales of cobalt and an all-out ban on the export of lithium, respectively, to build up refining capacity and capture more of the value of their natural resources.
Azevedo — the minister for mineral resources, petroleum, and gas — also said his country was pursuing a minority stake in De Beers that is sizable enough to win a seat at “the table, because we want to have [input on] the strategy.” Angola and Botswana have separately sought to acquire Anglo American’s shares in the diamond giant, though Botswana said in November it was taking “concrete steps” to acquire a majority stake.
