The Chipindo gold deposit exploration project in Huíla province is expected to make US$64 million a year from the sale of 53,600 troy ounces, an official from Empresa Nacional de Ferro de Angola (Ferrangol) said in Luanda on Monday.
Covering an area of 664.30 square kilometres, the Chipindo mine has an expected life of seven years and will create 70 direct jobs, with test operations already starting in March.
Kayaya Kahala, who gave a speech ahead of Angolan Mining Workers’ Day, which is scheduled for 27 April, added that other similar projects were at an advanced stage and are expected to begin work in the second half of the year.
The director said the projects were Buco-Zau and Lufo, located in Buco-Zau and Belize in the province of Cabinda, both with an estimated annual production of 3,858 ounces, as well as that of Tiandai Mining, located in Nambuangongo, Bengo province.
The Buco-Zau project covers an area of 322.80 square kilometres, with an estimated useful life of 57 years, taking into account the slow production rate in the first stage of exploration.
The Lufo project is slightly behind schedule but is due to start operating in the second half of the year, with the mine having an expected life cycle of 33 years, with Tiandai Mining starting in October. - Macauhub