7 August 2012

Angola: Phosphate Reserves in Lucunga Estimated At Over 100 Million Tons

Mbanza Kongo — The Lucunga basin, situated in Zaire Province, has phosphate reserves amounted at about 130 million tons, informed in this city, on Monday, the director of projects of Vale Fértil company, Ehud Levy.

While making the presentation of the project to the provincial government authorities, Ehud Levy said that the first phase will start on 2013 and includes mining operations, plants construction, improvement of granulation and installing of a warehouse facility.

In this phase at least USD 82 million will be invested in the project and it is expected to create 250 jobs.

According to Ehud Levy the second phase, which comes into operation in 2014, is valued at USD 950 million and includes the construction of a mining port, a complex of fertilizers, power plant and a warehouse facility.

This phase is expected to create 700 new jobs.

The director of Vale Fértil, associated to the Israeli group LR, said that all the stages of the project are scheduled to be operational in 2017.

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