Gisela Faria Martins - Tax Benefits and the New Boom in Mining in Angola

For decades, Angola structured its economy around oil. This cornerstone, although decisive, highlighted the vulnerability of dependence on a single resource and spurred a new phase of development based on diversification and the appreciation of mineral resources.
In this context, the mining sector takes on a strategic dimension. The state has been creating a more competitive legal and fiscal framework based on legal security and transparency, which are essential conditions for investor confidence. The Mining Code and the Tax Benefits Law express this modern vision by providing for temporary exemptions, fast-track deductions and contractual stability, reconciling the promotion of the public interest with incentives for private initiative.
Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, has reiterated that responsible and transparent management is essential to transform geological potential into economic development. This approach is in line with the understanding of Professor Carlos Feijó, for whom the state must perform the dual roles of regulator and investment promoter while ensuring fiscal predictability and institutional balance. Professor Marcelo Rebelo de Sousa also stresses that good governance is based on a combination of authority and dialogue, ensuring justice and sustainability.
Specific examples demonstrate the effectiveness of this policy: Lulo, which in 2022 uncovered the largest diamond in Angola’s recent history, weighing 170 carats; Kassinga, which is reviving iron production; the Longonjo Rare Earth Project, dedicated to minerals critical to energy transition; and the Tetelo copper mine, with an investment of more than USD 250 million.
With legal exactitude, administrative transparency and economic vision, Angola is firmly establishing itself as one of the most promising mining destinations on the continent. The real challenge lies in ensuring that every contract, every concession and every tax benefit results in human development, environmental responsibility and shared prosperity.
From this perspective, the economic future of Angola depends on its ability to transform subsurface resources into shared value. Regulatory stability and good fiscal governance are the true masterstrokes for solid, competitive and lasting growth. 

Gisela Faria Martins
Lawyer and CEO of GFM &Advogados