Forestry company TCT-Indústrias Florestais plans to invest US$3 million in the exploration of limestone deposits in central Mozambique, manager James Whaite told Mozambican daily newspaper Diário de Moçambique, published in Beira, Sofala province.
The manager added that the exploration of these deposits is focused on the sale of limestone to agricultural producers, “thereby increasing production and productivity in the sector.”
The investment is planned for the district of Cheringoma, in the central province of Sofala, and Whaite noted the existence of a railway line and a road near the exploration site as important factors for the profitability of the enterprise.
TCT-Indústrias Florestais is controlled by Premier African Minerals Ltd, which in November 2016 acquired a controlling interest of 52% for US$2.1 million in two 26% stakes purchased from Transport Commodity Trading Mozambique Ltd (TCTM) and GAPI Sociedade de Investimentos.
The company has an operating license for a limestone deposit in an area of 27 square kilometres and a forest concession with 24,812 hectares located in the centre of Mozambique, which is associated with a sawmill and a factory for production of furniture and semi-finished products for export. (macauhub)