Portuguese-Angolan company starts gold mining in Manica, Mozambique

28 May 2007

Manica, Mozambique, 28 May – A Portuguese-Angolan company is to start gold mining after four years of prospecting and equipment installation work, Mozambican newspaper Notícias reported Friday.

The paper added that work already carried out by Agrupamento Mineiro, a consortium of Portuguese company Companhia Mineira do Gilé and Angola’s Metais de Moçambique, represented an investment of some US$15 million.

The director of Agrupamento Mineiro, Carlos Brás, said that the project would produce 60 kilograms of gold per month, with an approximate value of US$9.5 million.

Production will be exported preferably to a refinery in South Africa and, later to the European market and this operation will net the Mozambican state some US$100,000 per month, in taxes.

Brás also said that it was calculated that each ton of earth moved would account for half a gram of gold, with an expected 250,000 tons of earth expected to be moved each month, and over 15 million tons over ten years. (macauhub)