Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo speaks during the Investing in African Mining Indaba 2023 conference in Cape Town, South Africa, February 7, 2023
The Tetelo mine represents a major step for Angola in diversifying its mining industry. The project, valued at $250 million, is owned by China’s Shining Star Icarus. According to the Ministry of Mineral Resources, Oil and Gas, the mine is expected to produce about 25,000 metric tons of copper concentrate per year during the first two years of operation. Copper concentrate is a key raw material used in the production of refined copper, which plays an essential role in the global energy transition.
Azevedo stated: “I am honoured to announce the inauguration of the Tetelo mine, which will take place in a few days.” He added: “This event will mark the start of production at the first underground mine for this very important metal.” The mine will begin as an open-pit operation and transition to underground mining in the second half of 2026, marking a significant milestone for Angola’s mining development.
Angola’s move into copper production reflects a broader strategy to attract international investment and reduce reliance on oil exports, which have long dominated its economy. The development of copper and other energy-transition minerals supports Angola’s goal of becoming a key regional supplier for clean energy materials.
Several international mining companies are also exploring opportunities in Angola. Ivanhoe Mines (IVN.TO) and Anglo American (AAL.L) both have active copper exploration projects in the country, highlighting growing global interest in Angola’s mineral potential. These investments are expected to enhance the country’s mining infrastructure, boost exports, and create local employment opportunities.
Copper, alongside other battery metals such as lithium, cobalt, and nickel, is essential for renewable energy technologies including electric vehicles, solar panels, and wind turbines. As demand for these resources continues to rise, Angola’s entry into the copper market is seen as a timely and strategic move.
With the Tetelo mine nearing its official launch, Angola is positioning itself to become an emerging player in the global supply chain for clean energy materials. The government’s focus on resource diversification, supported by international partnerships, signals a long-term commitment to sustainable economic growth driven by the responsible development of its mineral resources.
