Luanda, Oct. 27, 2025 (Lusa) - Angola will inaugurate on Wednesday the first modern copper mine since independence, a private investment of US$305 million (€262.4 million) in the north western province of Uíje, the government announced on Monday.
According to a note from the Ministry of Mineral Resources, Petroleum and Gas, the Tetelo Copper Mine project, located in the Maquela do Zombo region of Uíje, was developed by Shining Star Icarus (SSI), SU, Limitada, resulting from a partnership between China’s Shining Star International and Angola’s Copper Mining Company, the Sociedade Mineira de Cobre de Angola.
“It is the first modern copper mine in Angola since national independence, marking the revival of copper mining in the Maquela do Zombo region, where two complementary mines operated before Angola’s independence: Tetelo and Mavoio,” it said.
The ministry emphasises that, with a total investment of US$305 million, the venture has solid economic indicators, including a Net Present Value (NPV) of US$338 million (€290.8 million), an Internal Rate of Return (IRR) of 40.9% and a payback period of 4.1 years.
The mine, with an estimated useful life of 14 years, has a processing capacity of 4,000 tonnes of ore per day and a daily production of 300 tonnes of copper concentrate, with an average recovery rate of 92%, it adds.
The project employs 1,840 workers, 70% of whom are Angolan, with a forecast of exceeding 3,000 direct and indirect jobs, and has a policy of technical training, continuous capacity building and local integration.
“The inauguration of the Tetelo Copper Mine represents a historic milestone for Angola, consolidating the country as a competitive destination for mining investment, promoting the diversification of the domestic economy and reinforcing the Executive’s commitment to sustainable development and the sovereignty of natural resources," the ministry note emphasises.
The Ministry of Mineral Resources, Petroleum and Gas points out that the project region has a history of mining activity dating back to 1937, when the former Mavoio Mine operated until 1961, with a total production of 173,000 tonnes of ore, with an average grade of 12%.
Between 1947 and 1972, more than 150 exploration holes were drilled and technical studies were carried out, it adds, emphasising that “after decades of inactivity, the project was resumed with prospecting campaigns between 2008 and 2025, including more than 50,000 metres of drilling and geophysical studies that confirmed the mineral potential of the region” .
NME/AYLS // AYLS
Lusa
