Angola’s first gold refinery to start operations by June this year

The refinery, located in Viana near Luanda, has a processing capacity of about 20 kilograms per day. Construction and equipment installation are complete; commissioning and final technical adjustments are now underway, according to Paulo Tanganha, the national director of mineral resources.

The project reflects a broader shift across resource-rich African economies to process minerals locally rather than export raw materials. This aims to boost foreign exchange earnings, create jobs and reduce dependence on commodity price swings.

Angola has historically relied on crude oil and diamonds for revenue, leaving it exposed to global market volatility. Recent reforms have focused on expanding the mining sector, particularly as oil output faces long-term decline risks and energy transition pressures.

Tanganha said rising gold output would be key to supplying the refinery and supporting the government’s diversification agenda. The development comes at a difficult moment for the global diamond industry. Prices have weakened due to softer demand in major markets, including the United States and China, as well as increasing competition from lab-grown stones.