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Five-fold rise in mining investment in Mozambique

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Five-fold rise in mining investment in Mozambique

The volume of investment in exploration and mining in neighbouring Mozambique increased nearly five-fold last year, the country’s Mines Minister Abdould Noormahomad reported during a ministerial panel discussion at the Mining Indaba in Cape Town.

Noormahomad said that investment value soared to $162-million last year compared to $33-million in 2004.

He said this was the result of the commodities boom, a streamlined regulatory environment and the fact that the efficiency of Mozambique’s mining cadastre had increased through the introduction of a computerised registry system for the granting of mining licences.

The cadastre, now online, had improved the granting of mining licences and enhanced communication of important information to resources investors in under explored Mozambique.

New legislation introduced in 2002 had simplified the regulatory environment.

Source: Mining Weekly.

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