Angola to Launch First Gold Refinery in Viana to Diversify Economy Beyond Oil and Diamonds

Angola launches its first gold refinery in Viana to process 20kg daily, marking a strategic move to diversify its economy away from oil and diamonds.

By: AXL Media

Published: Apr 8, 2026, 8:04 AM EDT

Source: Information for this report was sourced from Business Insider Africa

Strategic Pivot Toward Mineral Value Addition

Angola is set to join the ranks of African nations prioritizing domestic mineral processing with the launch of its first gold refinery. Africa’s second-largest oil producer has confirmed that the facility, located in Viana near the capital city of Luanda, will commence operations within the first six months of the year. This development represents a mechanical shift in the nation's economic strategy, moving away from the simple extraction and export of raw materials toward a model that captures more value within its own borders to boost foreign exchange earnings.

Operational Readiness and Technical Specifications

According to Paulo Tanganha, the national director of mineral resources, construction and equipment installation at the refinery are complete. The facility is currently in the commissioning phase, with final technical adjustments being made to ensure operational stability. The refinery is designed with a processing capacity of approximately 20 kilograms per day. Authorities expect that a rising domestic gold output will provide a steady supply to the refinery, supporting the broader government agenda of extracting maximum value from the country's diverse mineral wealth.

Mitigating Volatility in the Oil and Diamond Sectors

The timing of the refinery’s launch is critical, as Angola faces significant pressure in its traditional revenue sectors. Global diamond prices remain under strain due to softened demand in the United States and China, coupled with the rising market share of lab-grown stones. While Angola produced 15 million carats of diamonds in 2025—surpassing its national targets—the government recognizes that total dependence on diamonds and crude oil leaves the economy vulnerable to international market volatility and the long-term risks associated with the global energy transition.