Angola Opens First Major Copper Mine in $250 Million Push Beyond Oil

Angola has taken a major step toward reducing its dependence on oil with the launch of its first large-scale copper mine, the Tetelo project, valued at $250 million. The mine, owned by China’s Shining Star Icarus, will begin production soon and is expected to yield 25,000 metric tons of copper concentrate annually during its first two years.

The open-pit operation will transition to underground mining in the second half of 2026, according to government officials. Angola’s Mines Minister, Diamantino Azevedo, announced the start of production on Wednesday, describing the project as a turning point in Angola’s strategy to diversify its economy and attract foreign investment into clean energy minerals.

Copper — along with lithium, cobalt, and nickel — plays a vital role in renewable energy technologies, including electric vehicles and solar power systems. The development of Tetelo signals Angola’s intention to position itself within the global energy transition value chain, as international investors like Ivanhoe Mines and Anglo American also explore new copper opportunities across the country.

While Angola remains Africa’s third-largest oil producer, declining output and revenue have pushed the government to fast-track diversification projects. Its Cabinda refinery, the first built since independence nearly five decades ago, is expected to start producing fuel before the end of 2025, reducing reliance on imports and stabilizing domestic fuel prices.

Tetelo’s launch highlights Angola’s evolution from an oil-dependent economy to a multisector resource hub focused on sustainability, industrialization, and regional competitiveness. As copper demand surges globally, this milestone could help Angola emerge as one of Africa’s key suppliers in the global clean energy economy.