Luanda - Sonangol and the Turkish group Tosyali have reached an agreement for the Angolan oil company to become part of the “Tosyali Iron & Steel Angola S.A”, with the aim of boosting this strategic mining and steel project.
The Turkish group Tosyali operates the Kassinga mining project located in Angola’s central Huila province.
According to a note from the Angolan Embassy in Turkey, the understanding is the result of a working visit by the Minister of Mineral Resources, Oil and Gas, Diamantino de Azevedo, to the Tosyali steel complex in Hatay (Turkey), which has state-of-the-art automation technology and a port for exporting the finished product to supply the international market.
The minister, who was accompanied by the chairman of Sonangol's CEO, Gaspar Martins, and Angola's ambassador to Turkey, José Patrício, learnt about the potential of the Tosyali group.
Quoted in the note, the chairman of the Turkish holding company Fuat Tosyali said that “with Sonangol's entry into the new corporate structure, the Kassinga iron and steel project will have a new dynamic”.
Fuat Tosyali said the agreement is a clear demonstration of the Angolan state's commitment to see the project accomplished.
The “Tosyali Angola” project, which could start production in mid-2027, will be a significant milestone in the Angolan government’s strategy to diversify the economy, since this important commodity will not only supply the domestic market, but also be exported, increasing the volume of revenue and generating jobs.
The starting point for the Kassinga mining project will be the reactivation of the Jamba mine in Huíla, along with the transformation of iron into steel at the steelworks to be set up at the Sacomar Mineral Terminal in southern Namibe province.
Steel is a commodity of great importance to the energy, construction, manufacturing and production, transportation and other sectors, and is an essential product for the growth and development of any country.
Tosyali Iron & Steel Angola, S.A. is a company incorporated under Angolan law in the mining sector, with the aim of implementing the Kassinga Mining-Steel Project (PMSK). VC/TED/AMP
