Mozambique government targets in the year 2010, 15% earnings of economics Mozambique stems from mining exploration and development sectorl. Therefore government mozambique gives full backing at activity of exploration and invesment at mine sector.

Following is growth report of exploration of mine in Mozambique during 2008,

The national director of Mining Resources, Fatima Momade, reported :

July 2008, Momade was upbeat on the prospects for the Moma and Chibuto minerals projects, along with the Moatize coal project.

Some US$217mn was invested in the country’s mining sector in 2007, up from US$169mn in 2005.

Momade also said that the main challenge for the government was to ensure the correct reform of current legislation. In this regard, it is expected that new laws on diamond mining are to be passed by the end of the year. The government is also taking steps to speed up the awarding of mining licences, by putting maps detailing existing licence holders online. At present, prospective miners have to apply for mineral licences from local directorates, which then have to go physically through paper records to check whether the area has already been sold off. The government is prioritising the provinces with the most mining activity (such as Manica, Tete, Zambezia and Nampula) but hopes to have the entire country mapped at a future date. There are several high-profile mining projects underway in the African nation, including Vale’s US$1.3bn Moatize coal project, Kenmare Resources’ US$450mn Moma titanium project and Corridor Sands’ Chibuto heavy mineral sands project.

Capital inflows have surged and a number of companies from countries such as South Africa, Russia, Brazil and India are buying stakes in mines throughout the country, signifying the emerging importance of Mozambique’s mining industry in its economy.

The diverse geology of Mozambique offers a range of minerals and metals including gold, uranium, titanium, coal and bauxite. The Manica belt spanning western Mozambique is the primary source for the country’s gold, copper, iron ore and lead resources. High-grade bauxite is also found here. In spite of the myriad natural resources that Mozambique hosts, the country suffers from certain infrastructural and systemic flaws.

Mozambique also needs to intensify its efforts to build good infrastructural facilities that will support industrial growth. On the positive side, the government of Mozambique has taken several steps to enhance the prospects of its mining industry. The state has embarked on a mineral export promotion programme to boost its depleted foreign exchange reserves.

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