HomeBase MetalsAngola seeks more tax revenues

Angola seeks more tax revenues

The Catoca kimberlite
pipe in Lunda Sul in
Angola is the fourth-largest
diamond-rich rock formation
on earth in terms of surface
area. The giant 250m deep
pit measures 1,200 by 1,500m
Luanda, Angola — 08 October 2012 – The mining sector in Angola needs to provide more tax revenues in order to contribute more to financing State Budget expenditure, says the country’s new geology and mining minister, Francisco Queirós.

In a presentation to sector technicians here, the minister expressed the hope that his ministry would be able to achieve this through more intensive exploration of the natural mining resources available in the country, Macauhub News Agency reports.

Queirós said that it would be necessary to diversify mining production, which had thus far been very focused on diamonds.

Cited by Angolan news agency Angop, the minister noted the need to complete the geological survey of the country as soon as possible in order to get a more exact knowledge of resources, where they are located, and how to plan their rational use.

Source: Macauhub News Agency. For more information, click here.