Extractive industry accounts for 30 pct of Mozambique’s exports in 2nd quarter of 2014

20 April 2015

The extractive industry accounted for 30 percent of Mozambique’s exports in the second quarter of 2014, contributing 12.6 percent to the growth of the country’s gross domestic product (GDP) in that three-month period, according to an official report published in Maputo.

The sector’s contribution to GDP growth, mainly due to coal, natural gas and mineral sands, was registered despite global production continuing to record relatively low growth of around 2.0 percent.

The 5th report by Mozambique as part of the Extractive Industry Transparency Initiative (EITI) reports that state revenues from the sector in 2012 amounted to 11.717 billion meticais (US$333.8 million), which corresponds to 12 percent of total revenue, which amounted to 98.615 billion meticais.

The report, produced by Mozambican company Intellica, is the fifth such report and provides a comprehensive contextual analysis of the industry and the reconciliation of receipts confirmed by the Mozambican government, with payments declared by the industry that occurred during 2012.

Of the 56 companies that were included in this report are Cimentos de Mozambique, Kenmare Moma Mining, Ceta Construções e Serviços, Anadarko Moçambique, Rio Tinto Mining and Exploration, Vale Moçambique, Companhia Moçambicana de Hidrocarbonetos, Empresa Nacional de Hidrocarbonetos (ENH), Sasol and Nkondezi.

EITI is a voluntary global initiative launched in 2002 which aims to improve governance in countries rich in extractive resources through accountability, verification and publication of company payments and revenues collected by the government in the oil, gas and mining sectors. (macauhub/MZ)