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Home Business Equatorial Guinea Approves Country's First-Ever Mining Of Gold, Iron, Bauxite, Uranium

Equatorial Guinea Approves Country’s First-Ever Mining Of Gold, Iron, Bauxite, Uranium

Five Mining contracts were signed with three different companies and follow the conclusion of the country’s first mining bidding round last year, EG Ronda 2019

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has signed the very first mining contracts in the country’s history.

The contracts include one gold exploration contract in Block (I) with Manhattan Mining Investment Co; three prospecting contracts with Blue Magnolia Ltd in Block (B) for bauxite and precious metals, Block (K) for gold, and Block (H) for gold, uranium, iron, bauxite, basic metals and rare earth minerals; and finally one prospecting contract with Shefagold in Blocks (N) and (O) for platinum, palladium, silver, chrome, copper, magnesium, phosphorus, iron ore and related minerals.

“Mining is a key contributor to economic growth and jobs creation across West and Southern Africa, and we truly believe that it is time that Equatorial Guinea enters the race and starts developing its potential in minerals,” declared H.E. Gabriel Mbaga Obiang Lima, minister of Mines and Hydrocarbons. “The development of this industry is central to the government’s economic diversification agenda and is expected to create thousands of jobs in the future,” he added.

Image Source: Africa Energy Chamber

The newly appointed contractors are expected to start exploration activities at the earliest in the Rio Muni area, which is highly prospective in minerals such as gold, diamonds, base metals, iron ore and bauxite.

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Image: Africa Energy Chamber Logo
Source: APO
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