A nickel reserve has been found in the northern Mozambican province of Cabo Delgado estimated to contain over 20 million tons of nickel, the head of non-listed company Rovuma Resources, Mark Henrigt said Wednesday.
The nickel prospecting work in the south of the province has been underway for about the last five years and Rovuma Resources has so far invested around US$28 million, or 808 million meticals at the current exchange rate.
Henrigt also told Mozambican news agency AIM that the nickel that had been found was currently being tested to determine its quality.
The nickel prospecting activities, which also resulted in the discovery of several types of precious stones and iron ore, continue and the company plans to invest US$7 million in the process this year.
Rovuma Resources is 75.65 percent owned by non-listed private group Rockover Resources, which has its headquarters in the British Virgin Islands, which in 2004 started prospecting for minerals in Mozambique. (macauhub)