Mozambique Mining Industry: Country auctions off new coal mining licenses
The Mozambican government next week plans to put new coal mining licenses in Tete province up for auction, followed by oil and natural gas licenses, the country’s Mining Resources Minister said in Maputo.
Speaking to financial news agency Bloomberg, Minister Esperança Bias said that “between this week and next week we will start a new auction process and revoke some licenses for which holders did not respect their contractual obligations.”
The minister said that the government had been contacted by several companies interested in offshore blocks, “who we have asked to be patient,” but she gave no details about the number of licenses that will be put up for auction.
“We are waiting for approval from parliament of the new Mining Law, as these new licenses must be in line with that law,” Bias said.
One of the points included in the revised law, which is expected to be approved at the end of June, stipulates that future licenses may only be granted if a stake of between 5 percent and 25 percent is set aside for Mozambican citizens.
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