Hong Kong´s Sunshine Industry Gets Concession in Angola to Mine Rare Mineral

 

Mining company Niobonga is investing USD 100 million to launch, in the second half of 2020, the exploration of niobium, in the Angolan province of Huíla. According to Africa Monitor, the company is controlled by Hong Kong´s Sunshine Industry and businessman Wu Hongsai.

 

Speaking on Tuesday at the presentation of the project, the administrator of the municipality of Quilengues, Adriano Pedro, said the concession, covering 160 square kilometers, located in the Carbonatito complex in Bonga and Tchivira, will be explored by the Niobonga in partnership with Angola´s Ferrangol.

 

Niobium, a rare superconducting material used in the space industry, will be explored for the first time in that area of ​​the country, he added. It is considered one of the rarest minerals in the world, used for the manufacture of turbines, spaceships, airplanes, missiles, the electronics industry and power plants, as well as for the production of steel alloys or superconductors.

 

In the prospecting phase, the quality of the ore was confirmed, already certified by the authorities of the province of Huíla.

 

The official stressed that, when the project starts, the region will benefit from improvements, within the scope of the company’s social responsibility

 

According to Africa Monitor, angolan president João Lourenço signed on May 29, by presidential order, the concession for the exploration of niobium in the province of Huíla (municipality of Quilengues).

 

The concessionaire, Niobonga – Comércio Geral Limitada, is controlled by Sunshine Group Industry (55%), based in Hong Kong. The concessionaire’s capital also includes Ferrangol Prospecting and Production (15%), Doriouro Exploração Mineira (15%), Chinangol Limitada (10%) and Varejo Limitada (5%), according to the same source.

 

Chinangol is owned by the well-known Chinese businessman Wu Hongsai, in the past linked to the import of construction materials (cement, of which it became one of the largest importers in the country) and machinery. Later, he developed several real estate projects in the country.

 

It is also licensed by the National Ports Council as a shipping agent, according to Africa Monitor.

 

In the creation of Niobonga, in January 2019, Sunshine Group Industry and Chinangol Limitada were both officially represented by the same person – Chinese citizen He Yang, residing in Angola.

 

Photo: Niobium mine (Great Mining)

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