Swakop Uranium, Sonangol partner to advance critical minerals development
The agreement supports Angola’s ambitions to expand its mining sector and strengthen its role in the global energy transition
Namibian uranium producer Swakop Uranium has signed a Project Development Agreement (PDA) with Angola’s state-owned energy company, Sonangol, marking a new step in the companies’ efforts to explore opportunities in the critical minerals sector.
The agreement forms part of Sonangol’s broader strategy to diversify its operations beyond oil and gas and increase its presence in the mining industry, particularly in the exploration and development of minerals that are essential to the global energy transition.
Critical minerals such as rare earth elements, lithium, cobalt and other strategic resources are increasingly in demand as countries accelerate the deployment of renewable energy technologies, electric vehicles and battery storage systems.
Under the partnership, Swakop Uranium and Sonangol will work together to identify and develop opportunities within the critical minerals value chain. The collaboration is expected to support Angola’s long-term economic development objectives while positioning the country to benefit from growing global demand for minerals required in low-carbon technologies.
The agreement also reflects increasing interest among African resource companies and governments in leveraging the continent’s vast mineral wealth to drive industrialisation, economic diversification and energy transition initiatives.
Swakop Uranium said it looks forward to collaborating with Sonangol to unlock new opportunities in the sector and contribute to the sustainable development of critical mineral resources.
The Project Development Agreement was signed by Swakop Uranium Vice-President Irvinne Simataa and members of Sonangol’s Executive Board.
