The Chinese-owned company Sociedade Niobonga – Comércio Geral is set to start to exploit the reserves of Niobium, a rare mineral used in manufacture of turbines, spaceships, planes, missiles, power plants and superconducting steel alloys.

According to José Grande, deputy director of Niobonga, the company holds the exploration rights and has invested around US$ 100 million since two years ago to start exploration work in Huíla province. The project is expected to generate around 500 jobs.

The niobium reserve, which is spread over an area of 443.53 square kilometres, is estimated at around 19 million tonnes. At current prices, niobium sells for USD 45,000 per tonne. The area has other mineral resources such as diamonds, quartz and gold, among others, already identified in geological maps of Angola.

(Source: Estamos Juntos)