Natural resources in Mozambique attract US$5 billion in investment

23 October 2013

Exploration of natural resources in Mozambique, in which US$5 billion has been invested, has created 15,000 jobs over the last five years, Mozambique’s Natural Resources Minister said.

During a public consultation meeting on policies and strategies for natural resources and social responsibility of mining companies, Minister Esperança Bias also said that mining natural resources had also led to over US$1 billion in tax revenues.

Bias added that investments were expected to continue to grow, with the execution of several projects already underway and new companies entering the mining and oil and gas sectors all the time.

Mozambique produces ad exports natural gas to the regional market, mainly to South Africa, as well as minerals extracted from heavy sands, coal and precious stones that are sold all over the world. Asia is the main market for coal mined in Tete province by groups Vale and Rio Tinto.

The documents discussed Tuesday are due to be submitted soon to the Council of Ministers for final appreciation and approval, Mozambican newspaper Notícias reported. (macauhub)