Maputo, Mozambique — 28 November 2012 – The Mozambican government’s stake in mining projects in the country is expected to remain at between 5 and 20% in order to attract investment, and there are no plans for a disproportionate increase.
Unlike what is happening in some African countries “’ where there are calls for nationalisation of mining projects or for taking controlling positions in them “’ Empresa Moçambicana de Exploração Mineira (EMEM) chairman António Manhiça explained that the Mozambican government aimed to balance the interests of the Mozambican state with those of investors.
“In each project we have a stake of between 5 and 20%, and we do not expect to see great changes to that.” Manhiça told Macauhub News Agency.
The chairman of EMEM noted that the government was aware of the huge investments needed to replace the infrastructure to support the coal sector, namely railroads and ports that were destroyed during the civil war that ended in 1992.
“We continue to call for creation of a business climate that attracts as much investment as possible,” he said, noting that a lot of effort was being put into convincing foreign companies that their investment would one day see a positive outcome, unlike many other countries in both Africa and other continents.
Source: Macauhub News Agency. For more information, click here.