London, May 14, 2026 (Lusa) – Angola's first gold refinery should open by the end of the year, Minister of Mineral Resources, Oil and Gas Diamantino Azevedo announced in London on Thursday.
"We expect to inaugurate Angola's first gold refinery later this year, a milestone in our strategy to promote local benefit and value creation," he said during the opening of the Angola Oil, Gas and Mining Investment Conference in London.
The refinery, funded by Endiama and located in the Viana Industrial Hub, is expected to have a production capacity of up to 25 kilograms a day.
Authorities first announced the infrastructure in 2022, but repeated delays hampered its completion.
"Our goal is not just extraction, it is transformation," he said, noting the expansion of diamond cutting and polishing capacity in the country, which grew from one factory in 2017 to 10 today.
He also said that an industrial hub for ornamental stones is under development.
"Our long-term ambition is clear. We intend to transform iron ore into steel, transform gas into fertilisers, expand diamond cutting and jewellery production, develop intermediate mineral processing industries, and build fully integrated industrial value chains in Angola," he said.
Investors, industry operators, and specialists are attending the conference at a hotel in the British capital.
Members of the Angolan government and leaders from Sonangol, Endiama, SODIAM, the National Mineral Resources Agency (ANRM), the National Oil, Gas and Biofuels Agency (ANPG), and the Geological Institute of Angola (IGEO) are also present.
As well as promoting opportunities in oil and gas exploration, the conference aims to highlight the importance of the mineral resources sector. Angola produces gold, manganese, quartz, ornamental stones, and pig iron, in addition to being one of the world's leading diamond producers, he said. The country resumed copper production last year.
"Projects related to niobium and rare earth elements should start production soon," he said.
Lithium, phosphates, and other strategic minerals place Angola within emerging global value chains for electric mobility, advanced manufacturing, renewable technologies, and digital infrastructure, he said.
During his stay in London, Azevedo addressed the Africa Energies Summit on Tuesday. He met on Wednesday with BP executives, which operates in Angola through the Azule Energy joint venture. BP has several ongoing investments, including the "Paz Project" for oil extraction in Block 31, valued at approximately $5 billion (€4.3 billion).
BM/RYOL // ADB.
Lusa
