Angola aims to attract investment in state ore firm Ferrangol

Angola has reconstituted state iron ore and manganese firm Empresa Nacional de Ferro de Angola (Ferrangol) in a move aimed at attracting new foreign mining investment and at restarting the southern African country’s iron ore and manganese exports after a 30-year hiatus.

But a ceasefire in 2002 has already seen a major inflow of foreign capital in Angola’s prolific oil and diamond resources and non-diamond mining is now becoming a priority for the Luanda government.

“The present statute [for Ferrangol] aims to give the firm a... framework that is compatible with new and better forms of management and functioning, adjusted to the current and future economic challenges,” the state-owned Angola Press Agency (Angop) reported.

Angola’s pre-war iron ore mining industry...

Published

December 06, 2005

14:32 GMT

Johannesburg