Angola ramps up mining diversification as first gold refinery begins operations

The refinery, located in Viana near Luanda, has a processing capacity of about 20 kilograms per day.

Construction and equipment installation have been completed, with commissioning and final technical adjustments now underway, according to Paulo Tanganha, the national director of mineral resources.

The project reflects a broader shift across resource-rich African economies to process minerals locally rather than export raw materials, in a bid to boost foreign exchange earnings, create jobs and reduce dependence on commodity price swings.

Angola has historically relied on crude oil and diamonds for revenue, leaving it exposed to global market volatility.

Recent reforms have focused on expanding the mining sector, particularly as oil output faces long-term decline risks and energy transition pressures.

Tanganha said rising gold output would be key to supplying the refinery and supporting the government’s diversification agenda.

The development comes at a difficult moment for the global diamond industry. Prices have weakened due to softer demand in major markets, including the United States and China, as well as increasing competition from lab-grown stones.

“Despite the low price of diamonds on the international market, the country continues to produce on a large scale,” Tanganha said.

At the same time, authorities are accelerating exploration of other minerals, including iron ore, copper, manganese and niobium.

Production of phosphate and rare earth elements, critical for agriculture and clean energy technologies, is expected to begin by 2027.

The mining subsector currently contributes around 2 per cent of gross domestic product, though the wider extractive industries, including oil and gas, account for more than 30 per cent. Officials say the sector’s indirect impact is larger due to its links with other parts of the economy.

The sector employs more than 50,000 people and has issued about 60 licences covering prospecting and exploration activities.

The launch of the gold refinery is expected to strengthen Angola’s position in Africa’s mining industry, as governments across the continent compete to attract investment and move up the value chain in global commodities markets.