The Mozambican government has decided to close the Mining Promotion Fund and replace it with the Geology and Mining Institute, deputy Justice Minister and spokesman for the Council of Ministers, Alberto Nkutumula said Tuesday in Maputo.
The Mining Promotion Fund was set up in 1988 with the mission of providing technical and financial support to small-scale and artisanal mines whilst the Geology and Mining Institute is intended to boost and expand capacity to research, analyse, treat, process and interpret geological and mining data and to certify mining products.
“The main responsibilities of the new institution are, firstly, development of prospecting activities, research and identification of mining resources in Angola and secondly to research and disseminate technologies that add value to mining resources in a sustainable way,” said Nkutumula.
The new institution, which will have its headquarters in Maputo and be the responsibility of the Mining Resources Ministry, will inherit all the material, human and financial resources of the Mining Promotion Fund. (macauhub)