Coal – expected to be
Mozambique’s highest-
earning mine project
 
Maputo, Mozambique — MININGREVIEW.COM — 13 January 2009 – The Mozambican ministry of Natural Resources has threatened to cancel, during the course of this year, all the mining licences held by operators who are not mining the areas granted to them to carry out their business.

Reporting from the Mozambique capital, Macauhub.com – a news service which supplies economic information from Southern China and the Portuguese-speaking countries elsewhere – quoted the newspaper Correio da Manha as revealing this decision. “A ministerial document,” the paper said, “does not name or quantify the concessions concerned, but it has been made public that 115 Mozambican and foreign companies with 296 licenses are authorised operators.”

The agency also quoted a document stating that the companies in question had been authorised to mine gold, copper, nickel, zinc and lead. “Some operators will be penalised for delaying the start of exploration work at the mines,” the document added.

“The measure will also affect mining companies operating outside Mozambican legislation,” the Mining Resources Ministry statement noted.

Meanwhile, estimates from the ministry showed that exports of natural gas, coal and heavy minerals from Moma, in Nampula, would likely net the Mozambican state US$1.2 billion (nearly R12 billion) by 2012.

Coal from Moatize is expected to be the highest earning project with US700 million (R6.9 billion), followed by natural gas  with US$400 million (R3.9 billion) and heavy minerals from Moma earning US$100 million (R990 million).