Australian-South African company stripped of mining concession in Mozambique

6 December 2012

The licence granted to mining company Mamba Minerals, an Australian and South African owned company, to prospect for gold in the Nhancuarara region of Mozambique’s Manica province, has been revoked said the provincial director for Mining Resources and Energy.

Olavo Deniasse also told daily newspaper Notícias that the licence had been revoked due to serious infractions, which he did not specify.

Deniasse added that the company’s assets, specifically its ore processing equipment, would be sold by public auction in the next few days.

Mamba Minerals planned to invest just over 4 million rands, or around US$455,000, to acquire and install the equipment needed to process the gold.

The company, which had planned to extend its business to the Chua area, also in Manica, had installed capacity to process 10 tons of clay per hour, with estimates pointing to 10 grams of gold for each ton. (macauhub)