Angola sees no further Opec cuts and is looking to become a gold producer
Angola sees no further oil cartel Opec cuts in 2018 and Africa’s number two crude exporter hopes to join the ranks of gold producers next year as it strives to diversify an economy long based on oil and diamonds, its minerals and petroleum minister said on Tuesday. Angola, where oil wealth has failed to translate into wider prosperity, has a reputation for graft on a grand scale, but President João Lourenço, who took power in September, is looking to win credibility with international investors. Speaking to Reuters at the annual Africa Mining Indaba in Cape Town, minerals and oil minister Diamantino Azevedo said the country was serious about widening its commodities mix. "We are just producing diamonds, and stuff like marble and granite at the moment. We are expecting to start gold production soon, we expect to have two or three gold mines operating next year, but at a small scale," he said. Speaking after presentations on mining opportunities in Angola, Azevedo said there were 10 e...
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