According to Leoncio Amada Nze, President for CEMAC at the African Energy Chamber said Equatorial Guinea is Doing well When it Comes to Our Mining Industry
African countries such as Equatorial Guinea are harnessing opportunities to create a local industry around the exploration and production of minerals, which could help meet the growing demand for clean energies.
Breaking down the EG Ronda 2019 reveals a wide range of mineral exploration projects in the offing, as well as the newcomer status of the companies that will be doing the exploring.
Of the 15 mining blocks awarded, seven were won by Blue Magnolia, in the north-west and east of Rio Muni, which will explore for copper, nickel, platinum group elements, rare earth elements and gold. Oro Sac Corp was awarded four blocks in the centre of Rio Muni, where it will look for gold, silver, copper, zinc and lead, while Manhattan Mining Investment will explore for gold in the one block it won in the same area.
In signing first contracts, Equatorial Guinea aims to exploit resources in the highly prospective Rio Muni region, which contains gold, diamonds, base metals, iron ore and bauxite, among other minerals.
“Equatorial Guinea is getting serious about developing its mining industry, and we applaud that move,” stated Leoncio Amada Nze, President for CEMAC at the African Energy Chamber. “The country has tremendous minerals potential, and the development of a value-chain for mining, from services to processing, could generate thousands of jobs for Equatoguineans, create new associated local businesses, and new economic centres bringing business activities closer to rural areas along with other ripple effects in the economy.”
Read also : Mineral Mining Potential In Equatorial Guinea
