{"id":24668,"date":"2022-08-18T15:14:59","date_gmt":"2022-08-18T14:14:59","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=24668"},"modified":"2022-08-18T15:14:59","modified_gmt":"2022-08-18T14:14:59","slug":"how-angola-critical-minerals-benefit-uk","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/how-angola-critical-minerals-benefit-uk\/24668\/","title":{"rendered":"How can Angola\u2019s abundance of critical minerals benefit the UK?"},"content":{"rendered":"
Last month\u2019s groundbreaking ceremony for the Pensana processing plant at Saltend, near Hull in the north of England, marked a significant stage of the UK\u2019s critical minerals journey. The event was attended by the UK\u2019s Secretary of State for Business, Kwasi Kwarteng, and was well documented as the launch of the long-awaited UK Critical Minerals Strategy. However, the repercussions of this work will be felt far from the banks of the Humber.<\/p>\n
In the centre of Angola sits the Province of Huambo, and within it, the town of Longonjo. Once part of a chain of agricultural hubs connected to the coast by the Benguela Railway, Longonjo is now home to Pensana\u2019s rare earths mine, which has begun construction this year and is at the heart of Angola\u2019s plans for economic diversification.<\/p>\n
The objective of the Critical Minerals Strategy is to make the UK a world-leading processor of critical minerals, utilising its capacity for innovation and education to establish new global supply chains, and to work in collaboration with international partners for mutual benefit. For a country like Angola, this offers a fantastic opportunity.<\/p>\n
For many people, the mention of Angola will conjure up historical images of civil war, corruption scandals, and oil. However, the country is changing. While oil production still dominates the country\u2019s economy, and 95% of its exports, the economic shock of the COVID-19 pandemic highlighted Angola\u2019s need to diversify, and the vulnerability of being dependent on one resource.<\/p>\n
In landmass, Angola is twice the size of France, and, with a young and growing population, it holds significant potential in other sectors which have been underutilised in recent decades. Since President Jo\u00e3o Louren\u00e7o came to power in 2017, his government has promoted the image of a new Angola by fighting against corruption, easing the process of doing business, and encouraging foreign investment into the country.<\/p>\n
This work is beginning to bear fruit, and for British businesses in particular, the country\u2019s mining sector is emerging as one of the world\u2019s most appealing frontier markets.<\/p>\n
On 22 March 2022, a charter train travelled from Pensana\u2019s site at Longonjo along the Benguela Railway, to the port of Lobito on Angola\u2019s Atlantic coast. On board the train were the members of the UK\u2019s first ever mining trade mission, organised in collaboration with the British Embassy in Luanda and the UK Department for International Trade, which included representatives from ten companies. Among them were representatives of mining giants Anglo-American and Rio Tinto, along with UK supply chain firms, financial and legal groups, and both the British and Norwegian Ambassadors to Angola.<\/p>\n