Global economic growth is inseparable from the development and utilization of mineral resources, Angola seeks to increase investment and attract more companies to explore the country's rich mineral resources. It is reported that the organizing committee of the African Mining Congress has announced that Angolan President Joao Lorenzo will participate in the 2024 annual meeting, when Lorenzo will deliver a keynote speech at the conference. His presence marks a major step in Angola's mining sector as it seeks to increase investment and attract more companies to explore the country's rich mineral resources.

Despite the low level of exploration, Angola is the fourth largest diamond producer in the world. In recent years, Angola has implemented regulatory reforms that have attracted foreign investors. For example, in 2022, diamond giant De Beers signed two contracts for diamond exploration and development. Other mining giants such as Anglo American, Rio Tinto and Ivanhoe have recently invested in Angolan mining.

Importantly, Angola wants to diversify its mining industry and expand the exploration and development of key minerals and gold deposits on the basis of diamonds, which will bring great changes to the country's mining industry. Asx-listed junior exploration company Telana Resources is preparing to develop the country's first lithium project in Angola in 2025. Separately, London Stock Exchange-listed junior exploration company Pensana is also preparing to develop the country's first rare earth project in 2025. By then, the company will become the largest producer of praseodymium and neodymium in Africa, with an annual output of 46,000 tons.

The Angolan Government is committed to creating a favourable investment climate to fully tap the potential of the country's mineral resources and achieve sustained economic growth. President Lorenzo's participation in the 2024 Indaba reflects this, as well as his desire to promote cooperation among business leaders who are investing profitably in the country's mining industry.

The theme of the 2024 Indaba Mining Conference is: Organic in Crisis, a new future for African mining. Angola's efforts to encourage mining investment support this argument, taking positive steps towards the African country earning more from its vast mineral wealth.

The Indaba Mining Congress provides a platform for delegates from around the world to promote the development of modern mining, including financing, technology and sustainable development, and energy development. President Lorenzo's presence will provide valuable input on how the industry can work together to achieve common goals and sustainable development on the continent. Editor/Xu Shengpeng