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Most of Angola sits on minerals, Chinese-led survey finds

A Chinese-led geological survey has found that 70 percent of Angolan territory contains mineral resources, Angop reports.

The Angolan state-run news agency quotes Angolan Geological Institute President Canga Xiaquivuila as saying the survey, now two-thirds complete, found 42 sorts of mineral, among them diamonds, copper, iron, silver, manganese, gold, limestone, marble and granite.

Mr Xiaquivuila said the survey confirmed that Angola had potential which could attract big mining companies and so spur economic development.

Some of the US$405 million the survey costs is paying for new laboratories for Mr Xiaquivuila’s institute in Luanda, Lunda Sul and Huíla, Angop says.

Last month Angop reported that the company in charge, CITIC Construction Co. Ltd of China, should finish the survey this year.

The Chinese firm was also the builder of the facilities used by the Angolan Geological Institute.