Gold production in Angola’s Huíla Province to commence soon, gigantic turnover expected

Gold production is to start soon in the municipality of Chipindo, southern Huíla Province in Angola after successive postponements since the year 2017, a source linked to the mining project confirmed.

According to the source, a plant is already installed with the capacity for processing 500 tonnes of ore per day, and is operating experimentally at about 75 percent of its capacity. The goal of the project is to reach a recovery of 30 ounces per day. It currently has 70 employees, and prospecting activities are still ongoing.

The forecasts point to an annual turnover of USD 64 million, resulting from the sale of 53, 647 ounces of gold. An ounce of gold, equivalent to 28.34 grams is valued in the international market between USD 1,000 and USD 1,500. The experimental exploration is being carried out since last March in Tchicuaqueia, Cassanda, Canjanja, in an area of ​​67,000 hectares, corresponding to 674 square kilometres.

The project is under the responsibility of the mining consortium Deimang, a partnership between state-owned Ferrangol and Angolan companies Luvulo and Chipindo Mining. An estimated investment of USD 5 million was invested in the purchase of locally assembled equipment from South Africa.

With an area of ​​3,898 square kilometres, the municipality of Chipindo has a population estimated at 64,714 inhabitants. It is 456 kilometres north of the city of Lubango, the provincial headquarters of Huíla.

With inputs from agencies.

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