Swakop Uranium, Sonangol Sign Development Pact to Expand Critical Minerals Cooperation
Namibia-based mining company Swakop Uranium has signed a Project Development Agreement (PDA) with Angola’s national oil company Sonangol, marking a new step in Sonangol’s strategy to expand beyond hydrocarbons and establish a foothold in Africa’s growing critical minerals sector.
While financial details were not disclosed, the partnership is expected to focus on exploration, project development and technical cooperation related to critical minerals that support the global energy transition.
The deal comes as Sonangol accelerates diversification efforts amid shifting global energy markets. Earlier this year, the Angolan state company announced plans to expand into minerals including uranium, lithium and quartz and said it already holds seven exploration concessions as part of its broader mining strategy.
For Swakop Uranium, the agreement leverages expertise developed at the Husab mine in Namibia. The mine commenced production in 2016 and features five potential mineralized zones, two of which are currently being mined. The operation has a mine life extending to 2044 and is supported by a large-scale exploration program valued at N$1.4 billion, including 680,000 m of drilling over seven years.
