Japanese companies invited to set themselves up in Mozambique to provide services to mining sector

20 February 2012

Maputo, Mozambique, 20 Feb – Mozambique’s minister for Mining resources has invited Japanese businesspeople to establish partnerships in Mozambique in order to provide services to mining companies operating in the country, according to an official statement issued Friday in Maputo.

Minister Esperança Bias, who is due Monday to end her five-day visit to Japan to boost ties in the mining sector, told an audience of Japanese businesspeople that in Mozambique there was potential for providing services to mining companies.

Bias also said that the Mozambican government planned to find a partner that could support an increase in Mozambican participation in the consortium involved in oil prospecting in Area 1 of the Rovuma basin, which would require investment of US$2 billion.

“Mozambique needs that amount to be part of the consortium that is working in Area 1 of the Rovuma Block, Japan has said it can support us in finding that funding and, that being the case, it may fund a part of Mozambique’s participation in that project,” she said.

The current concession-holders of Area 1 of the Rovuma sedimentary basin are Anadarko Mozambique – the operator of the block – with a 43 percent stake, state company ENH (15 percent), Japan’s Mitsui with 23.5 percent, BPRL Ventures Mozambique, Videocon Mozambique Rovuma 1 both with 11.75 percent and UK company Cove Energy with 10 percent. (macauhub)