Angola's Gold: A Guide To Buying Precious Metals

Angola is the third-largest country in Sub-Saharan Africa and is known for its war-torn history and poverty. However, it is also a significant producer of diamonds and gemstones, and there is plenty of gold to be found. With the country now enjoying a period of relative peace, there is a renewed interest in mining in Angola. Civil disruptions in the past have kept large corporations away, leaving vast areas of land unexplored by geologists. This makes Angola an attractive prospect for mining companies and prospectors alike. So, if you're looking to buy gold in Angola, where do you start?

Gold dealers in Luanda, Ingombota, Belas, and Lubango

Angola is known for its vast natural resources, including gold. If you're looking to buy gold in Angola, specifically in Luanda, Ingombota, Belas, or Lubango, there are several reputable gold dealers in these areas that can assist you.

Gold Dealers in Luanda

In the capital city of Luanda, you can find several reputable gold dealers. Here are a few options:

• Pedra Rubra: Located at Rua Kwame Nkrumah Nº11A – Distrito Urbano da, Luanda, Angola. You can contact them at +244 931 753 003.
• Império Das Joias Gamek: Found at nosso centro, Gamek Esquerda por trás do, Luanda, Angola. You can reach them at +244 942 995 614.
• Oro Fino – Xyami Shopping: This gold dealer is located in Luanda, Angola, but their specific address is not provided.
• Império Das Joias: You can find them at R. 8, Luanda, Angola, and contact them at +244 945 895 802.

Gold Dealers in Ingombota

Although specific information about gold dealers in Ingombota is limited, it is likely that some of the gold dealers in Luanda have branches or serve customers in Ingombota as well. You can contact the dealers in Luanda to inquire about their presence in Ingombota.

Gold Dealers in Belas

In Belas, there are a couple of notable gold dealers:

• OURIVESARIA PERFECT GOLD: They are located at Estrada Principal do, Belas, Angola, and can be contacted at +244 927 995 206.
• Glamour Ourivesaria: Found at Estrada Talatona/Camama, Belas, Angola. You can reach them at +244 994 627 206.

Gold Dealers in Lubango

While there may be gold dealers in Lubango, specific information about them is not readily available. It is recommended to search for updated directories or contact local businesses in Lubango for more current information.

Gold mining in Angola

Angola is a country rich in mineral resources, with sizeable deposits of gold, diamonds, iron ore, and rare earth minerals. The country has one of the largest and most diversified mining resources in Africa, and its diamond industry is one of the country's main sources of revenue.

The Angolan government has been working to increase transparency and attract foreign investment to the mining sector, which has historically been plagued by issues such as corruption, human rights violations, and diamond smuggling. The country is also trying to diversify its economy away from oil and gas dependence, with a focus on developing its mining sector.

Gold dealers can be found in several Angolan cities, including Belas, Ingombota, Luanda, and Lubango. These dealers offer gold bullion bars, coins, and other gold products for sale. Additionally, there are international companies, such as Village Local Miners, that supply gold to customers in Angola.

Gold buying tips

Gold buying has become an increasingly popular investment choice for many people, and for good reason. Gold is a precious metal that has been valued for centuries and can be a great way to secure wealth, especially in times of economic uncertainty or inflation.

When it comes to buying gold in Angola, there are a few things to keep in mind to ensure you get the best deal and avoid any potential risks or fraud. Firstly, it is important to buy from trusted sources, especially those that have been in the industry for a long time. This can help you avoid fake gold, as inexperienced buyers may struggle to differentiate between real and fake gold.

One of the benefits of buying gold in Angola is that the country is mineral-rich and has vast areas that are yet to be explored by geologists, meaning there are still significant gold deposits to be discovered. The country has recently loosened its mining regulations to attract more businesses, so there is potential for a thriving gold market.

If you are looking for specific places to buy gold in Angola, there are several gold dealers located in the cities of Luanda, Lubango, Ingombota, and Belas. These dealers can help you find gold bullion bars or coins, and they cater to both local and international buyers.

Additionally, when buying gold, it is essential to carefully examine the items you are purchasing. An experienced buyer will be able to assess the value of the gold and offer you a fair price. This is especially important if you are buying gold jewellery or other gold items, as you want to ensure you are getting the best value for your money.

Lastly, it is always good to stay informed about the current market price of gold. The price of gold fluctuates, and by keeping an eye on the market, you can make informed decisions about when to buy or sell to maximise your profits.

Gold as an investment

Gold is a unique investment vehicle that has been used to display wealth and store value for thousands of years. It is seen as a safe-haven asset that can protect savings in the event of a market crash or economic instability. For example, the price of gold increased by over 100% between 2008 and 2012, during the financial crisis.

Gold is also considered a hedge against inflation, as its value tends to increase when the purchasing power of the dollar decreases. During periods of high inflation, the dollar price of gold can rise, delivering higher returns to investors.

There are several ways to invest in gold. One option is to buy physical gold in the form of bullion, coins, or jewellery. However, owning physical gold can come with extra costs, such as transportation and insurance, and it may be safer to store it in a bank safety deposit box or a gold vault service. Alternatively, investors can buy shares in gold mining and refining companies, gold mutual funds, or exchange-traded funds (ETFs).

Gold stocks, ETFs, and mutual funds offer greater liquidity than physical gold, as they can be bought and sold immediately through a brokerage account. Additionally, a precious metal individual retirement account (IRA) allows investors to buy and store physical gold while receiving the same tax breaks as a regular IRA.

While gold can be a prudent way to diversify a portfolio, it is important to note that it does not generate income and has higher taxes on physical gold sales than other investments. Gold is also highly volatile, and there are risks associated with owning it, including price fluctuations, political events, and storage and insurance costs.

Overall, gold can be a good investment option during times of high inflation or economic uncertainty, but it typically underperforms the stock market during strong economic periods. Experts recommend keeping between 3% and 6% of your investment portfolio in gold, depending on your risk tolerance.

Gold brokers in Angola

Angola is known for its rich natural resources, including gold. The country has 28 licensed gold projects, with 20 in the prospecting stage and the remaining eight already holding exploration titles. However, only two of these projects have commenced production and marketing, and they are doing so on a small scale.

The Angolan government has been working to implement and promote gold projects, aiming to develop a significant and diversified gold production chain. Angola's geology is favourable for mining, and the country is seeking to establish itself as a notable gold producer in Africa.

The country's industrial gold production began in 2019, marking the start of a new era in the mining sector, with a focus on developing value chains. Angola's vast gold deposits are spread across several regions, with the majority of large-scale gold mining occurring in the Maiombe region, located within the Cabinda province. This region alone accounts for 90% of the country's gold mining activities. Other notable gold-rich areas include the provinces of Kwanza Norte, Huila, and Cunene.

The Cassinga mining project, located in the south-central or south-western areas of the country, also holds potential for gold extraction. The project could yield up to 10 million tons of minerals, including gold.

While there are currently only a few large corporations involved in mining operations within Angola, the country has relaxed its mining regulations to attract more businesses. Angola's mineral wealth, combined with its largely unexplored terrain, makes it an attractive prospect for future mining ventures and prospectors alike.

Frequently asked questions