Funding for the Rovuma Area 1 natural gas exploration project in northern Mozambique has been launched at the level of international commercial banks, the Minister of Mineral Resources and Energy announced on Wednesday.
Read MoreMozambique’s Deputy Minister of Mineral Resources and Energy, Augusto de Sousa Fernando, said that the country would earn US$160 billion over the next 20 years from the exploitation of natural resources.
Read MoreGreater economic growth this year will be driven by exploration of mineral resources, such as coal, which is expected to register a substantial increase due to increased prices, increased demand from Indian companies and the efforts of the companies themselves in 2015/2016 to improve efficiency, according to Economist Intelligence Unit (EIU).
Read MoreThe prime ministers of Mozambique, Alberto vaquina, and Russia Dimitry Medvedev met Saturday in Moscow to discuss the possibility of cooperation in managing Mozambican natural resources, such as oil and gas, according to the State news agency AIM.
Read MoreSpeaking at the Mozambican parliament during the presentation of the proposed Mining Law, the Mozambican Minister for the Mineral Resources Esperança Bias said that Mozambique’s mining sector currently had 1,212 mining companies were registered in Mozambique, 424 of which were at least part-owned by Mozambican citizens.
Read MoreMozambique Tax Authority CEO, Rosário Fernandes The contribution of mining resources to Mozambique’s total tax revenues has risen significantly over the last four years, from 2 percent in 2010 to 15 percent of all taxes collected in 2013, Mozambique’s Mining Minister said in the country’s parliament.
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