Mining 2026

ANGOLA Law and Practice Contributed by: João Afonso Fialho and Marizeth Vicente, VdA

5.6 Security Over Mining Tenements and Related Assets Mineral rights may only be pledged to secure credits contracted by the holder of mineral rights to finance mineral activities covered by a mineral investment contract or exploration/mining title. For this reason, the pledgee must be provided with an authentic copy of the title and the mineral investment contract. In pledging its mineral rights, the holder of mineral rights shall forfeit neither the possession nor the exercise of the mineral rights pledged, being likewise bound to comply with all legal and contractual obliga - tions. The mineral rights pledged shall not be trans - ferred by the relevant holder, nor encumbered again, without the prior express authorisation of the pledgee. Enforcement of the pledge (transfer of the mineral rights in the event of default) is subject to govern - ment approval. 6. Mining: Outlook and Trends 6.1 Two-Year Forecast for the Mining Sector Angola is committed to implementing a diversification strategy aimed at reducing the country’s dependence on oil, while developing gas and renewable energy, building on its current strength in diamond produc - tion and exploring the country’s rare earth and other energy transition minerals’ potential. As an example, a new foreign exchange regime applicable to the min - ing sector was enacted in 2023, inter alia allowing external investing entities – in which Angolan SPVs are included – to open and operate bank accounts abroad, including escrow accounts, without previous authorisation from the Angolan National Bank. The creation of a Diamond Burse is also expected to take place soon, leading to significant changes to the cur - rent diamond marketing regime. The political stability resulting from the re-election of the President in August 2022, the increasing demand for minerals in the international market for energy tran - sition, and recent investments in the country by De Beers, Anglo American, Rio Tinto and Pensana Rare Earth Metals are all expected to continue to attract a variety of other companies, which may finally look to Angola as a reliable and transparent jurisdiction for investment.

harmonisation of mining policies, technical informa - tion exchange, common standards, and environmen - tal and occupational safety protections. In June 2025, Angola became a full member of the SADC Free Trade Area (FTA), following the formal rati - fication by the SADC Council of Ministers and Heads of State, thereby enabling the elimination of tariffs on 90% of its tariff lines and facilitating trade and invest - ment flows in the mining sector. New strategic partnerships were signed, including a co-operation agreement with Canada to attract mining investments, paving the way for a Bilateral Investment Promotion and Protection Agreement (APPRI) sched - uled for 2026. Angola has also entered into technical and scientific co-operation agreements with international companies (such as Ivanhoe Mines) for sustainable exploration projects, with investments exceeding USD20 million. The country is positioning itself as a global supplier of critical minerals (including lithium, copper and rare earths), supported by major projects such as Longon - jo (Pensana) and Mavoio-Tetelo, as well as initiatives for local processing and beneficiation. 5.4 Sources of Finance for Exploration, Development and Mining Holders of mineral rights (or relevant shareholders) generally fund their mining activities in Angola with private equity, shareholders’ loans or direct loans from foreign banks. The implementation of alternative fund - ing mechanisms (streaming and royalty agreements) is still significantly impaired by the existing foreign exchange and marketing regulations. 5.5 Role of Domestic and International Securities Markets in the Financing of Exploration, Development and Mining Angola’s securities market is finally ramping up, with significant operations being successfully completed in 2023. Nevertheless, investors usually raise funds overseas through private equity or in international security markets to invest in mineral exploration and mining projects.

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