Mozambican government authorizes Canadian company to buy more land

6 September 2007

Toronto, Canada, 6 Sept – Canadian company Energem Resources said Wednesday in Toronto it had been given the go-ahead by the Mozambican government to buy a further 60,000 hectares of agricultural land to expand its business in Mozambique.

Last August, the company said it had acquired a 70 percent stake in a jatropha biodiesel production business, with a commitment to invest up to US$5.5 million in the project.

At the time, Energem said that the investment would be needed to sow 1,000 hectares and clear and beginning planting on a further 5,000 hectares and buy an additional area of 60,000 hectares, which has now been authorized.

Included in the figure is production of a first harvest of jatropha seed oil in order to confirm the yield and oil quality. (macauhub)