Mozambique Mining: Gold reserve discovered in Cabo Delgado

The Mozambican mining company Mwiriti has confirmed that it has found gold in its concession in Nairoto, in Montepuez district in the northern province of Cabo Delgado.

According to the newspaper “O Pais”, gold mining could begin in April next year. The company is quantifying the gold reserves and plans to raise 100,000 US dollars to purchase a processing unit.

As part of its corporate social responsibility Mwiriti has purchased two vehicles and donated one to the local administrator in Nairoto and the other to the Quirimbas National Park.

The report adds the company is continuing with its geological survey and has indications that several minerals are present.

Mwiriti also has a 25 per cent stake in Montepuez Ruby Mining (MRM) which holds a 34,000 square kilometre concession in Cabo Delgado. The concession is the largest known ruby deposit in the world.

The rubies are sold at auction by Mwiriti’s partner, Gemfields and so far ten auctions have generated 407 million dollars.

MRM has been the largest taxpayer in Cabo Delgado over the last three years.Source: AIM