The final version of the proposal to revise the Mining Law in Mozambique is due to be submitted to the country’s Council of Ministers in August, the national director for mines, Eduardo Alexandre said in Maputo Tuesday.
On the sidelines of the Third Annual International Coal Conference, which began Tuesday in Maputo, Alexandre said that the future Mining Law, “will not have many changes,” but would reduce the validity of the start of mining from “10 to seven years,” which the government considers is enough time for companies to carry out surveys and make decisions based on them.”
Future mining legislation is intended to improve some standards included in the current Mining Law, thus becoming more appropriate for the current state of surveying and exploration of mining resources, specifically taxation of the transfer of licenses between national and foreign companies carried out abroad.
Speaking at the opening of the meeting, the deputy Mining Resources minister, Abdul Razak, said that, “one of the policies for the current legislation review for the mining sector is a process of fair sharing between investors and the State of the benefits resulting from mining activities.”
The legal standard should maintain, “attractive terms for foreign investment that are competitive when compared to those offered by other countries,” said the deputy minister.
The Third International Coal Conference is organised by International Mining Events & Metal and is intended to discuss the potential of coal in the north of the country and the impact of its exploration on the Mozambican economy. (macauhub)