Angola Plans to Diversify Mining Investment to Include Manganese

Bloomberg reported that Angola is pursuing manganese investments in order to reduce their dependence on exports of oil and diamonds.

As quoted in the market report:

The projects include the $900 million Cassinga iron-ore mine, planned fertilizer output of 400,000 metric tons a year and a $400 million manganese development, Queiroz said in an interview last week in Luanda, the capital. A mining law enacted in November that cut tax to 25 percent from 35 percent was followed by investment from companies including diamond producer De Beers and Sumitomo Corp. (8053), which is developing an ammonia and urea plant, he said.

To view the whole Bloomberg report, click here.