26 November 2008
Luanda — The New Mining Code, expected to be approved in mid-2009 by the Cabinet Council, considered diamonds, gold and the radioactive minerals as strategic for the country, said Tuesday in Luanda, the coordinator of the Technical Commission for Revision of Mining Legislation, Francisco Queiroz.
Addressing Angop on the sidelines of the II Mining Code Enquiring Workshop, Francisco Queiroz, who is also jurist, said that factors such as the scarcity, the high demand at the international market and the relevant impact on the economic growth are required for the assortment of strategic minerals.
In the light of the current code, Francisco Queiroz also explained that the mining rights of prospect and exploration, processing and trading across national territory, including continental platform and the exclusive economic zone, belong to the State.
This right can be exercised in exclusivity by a specific public firm that will assume the role of national stakeholders, or by an autonomous public institution, acting as a regulator of mining activity.
"The national mining stakeholder firms on strategic mines are created by the Government.
However it is up to them to directly exercise the rights on the respective ores, or in association with private companies", he stressed.
Works aimed at creating the new mining law in Angola started two years ago, having already held, so far, some technical consulting workshops.
Also the current work is focussed on supervision and arrangement of some aspects related to draft law, after which it will be handed over to the Cabinet Council for its approval before being submitted to the National Assembly.
Be the first to Write a Comment!
Copyright © 2008 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
