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Angola is set to kickstart production at its first major copper mine, Tetelo, on October 29, marking a significant step in diversifying the nation’s resource-driven economy. The $250 million project, owned by China’s Shining Star International Group and Angola’s Sociedade Mineira de Cobre de Angola, is expected to produce 25,000 metric tons of copper concentrate annually during its first two years. Initially operating as an open-pit mine, Tetelo will transition to underground mining in mid-2026. This strategic initiative positions Angola to become a meaningful player in the global clean energy transition, as copper is a critical metal for renewable technologies and electric vehicles. The mine’s management has an offtake agreement with the commodities giant Glencore, which will handle distribution.
CNBC Africa