Equatorial Guinea, the richest country per capita income on the African continent, and third largest oil exporter, will officially launch the country’s first mining license bid round on April 1, the mines and oil minister has revealed.
Crude oil and LNG exports account for 80% of the government’s revenues and 95% of export income
Minister Gabriel Obiang Lima spoke at the sidelines of a mining conference in Cape Town where an online portal went live to provide potential investors with a database of exploration for minerals ranging from gold, bauxite and diamonds.
On this website, investing companies will also find the guidelines to submit applications for a Contract under the banner of the “Equatorial Guinea Ronda 2019 Mining Round”, Lima said in an interview with 1st Mining DRC-Zambia at the 2019 Africa Mining Indaba.
“We have good road networks, electricity and the port, hence the portal is a historic moment for us in attracting foreign investment” said Minister Lima. Equatorial Guinea is heavily invested in good infrastructure and this is a plus for the mining sector.
Equatorial Guinea said it expects to sign all the mining exploration contracts at the end of July.
Those who will accept our invitation and apply before the 30th of June 2019 will be able to negotiate exploration contracts on flexible terms specifically designed for this first licensing round, ” Lima concluded.