The contribution to Mozambique state coffers of mega-projects operating in the extractive industry sector amounted to 14,440 million meticais last year, corresponding to 6.8% of the total revenue collected by the State in 2018 (211.9 billion meticais), and a fall of 62.4% compared to the 2017 figure.
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The Economic and Environmental Commission of the Mozambican parliament travelled to the province of Cabo Delgado to assess the socio-economic impact on local communities of the exploitation of mineral resources, said the delegation’s spokesman.
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In an exclusive Critical Resource Q&A, leading resource financier Rick Rule discusses investment opportunities, downplays current levels of geopolitical risk and urges the industry to harness the benefits of a more diverse workforce.
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Across the globe and across industries, companies increasingly face public scrutiny of their business activities. But also without public activism, companies acknowledge corporate responsibility makes good business sense.
Read MoreThe Judicial Council of the Administrative Court says it considers that failure to conduct regular audits of extractive industry companies has led to a lack of knowledge of the actual costs of companies’ activities and other operating expenses.
Read MoreMozambique’s parliament plans to approve a law that obliges the extractive industry to provide more benefits to the country, the chairman of the Commission on Constitutional Affairs, Human Rights and Legality said recently.
Read MoreMozambique is experiencing a growth in the extractive industry’s contributions to the national gross domestic product (GDP). Updated figures indicate that, in taxation alone, this sector currently contributes 4.1 percent. In the past, the contribution was 0.4 percent.
Read MoreThe Mozambican parliament, the Assembly of the Republic, on Thursday passed unanimously two government bill changing the tax regime for mining and petroleum activities.
Read MoreThe Angolan government is preparing a set of legal and economic measures on local content to ensure greater participation by domestic companies in providing services to the oil sector, the country’s Oil Minister said on Wednesday in Luanda.
Read MoreAs Mozambique sits on the precipice of a rapidly growing gas, mining, infrastructure and energy economy, investors, business, unions, government and social stakeholders are walking an unchartered road in delivering the skills, labour market and human capacity that will support this economic growth, while improving the living conditions and poverty levels of its just over 24 million citizens.
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