Mozambique needs to carry out thorough survey of its mining resources, World Bank vice president says

6 December 2012

Thorough knowledge of existing mining resources in Mozambique and in the region in general is still a challenge that needs to be met, the vice president of the World Bank, Otaviano Canuto said Tuesday in Maputo.

Canuto, who is responsible at the World Bank for economic management and reducing poverty, also said that African countries should join forces in order to increase knowledge about existing resources and, thus improve their management.

Cited by daily newspaper Notícias, Canuto gave assurances that the World Bank was available to provide the support needed to ensure that this became a reality, as greater knowledge of the continent’s mining resources could drive development in Africa.

“African countries, including Mozambique, should evaluate the wealth they have underground and incorporate them into their accounting systems,” said Canuto, for whom, “if a State does not have the capacity to find out about its resources, its cannot expect private companies to help it do that.”

Re-stating that the World Bank has an optimistic view of the future of Mozambique, Canuto also said that it was important for the wealth generated by exploration of natural resources to be transformed into strategic assets for the country.

Otaviano Canuto arrived in Mozambique Monday and is due to leave Thursday, and during his visit met with members of the government and representatives of countries who provide financial aid to Mozambique. (macauhub)