Africa > East Africa > Mozambique > Petroleum / Mining

Petroleum / Mining in Mozambique

  • Africa rejects Europe's 'dirty diesel'

    BOTSWANA, 2017/05/04 Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1. Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year. The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.
  • Mozambique closes in on huge gas deal after years of delays

    ITALY, 2016/07/27 Mozambique’s long-delayed offshore gas project with Italy’s Eni could be approved within months, sources close to the transaction said, sparking investments with the potential to transform one of the world’s poorest nations into a major energy player. Mozambique made one of the world’s biggest gas finds in a decade in 2010 but negotiations with operators Eni and U.S. firm Anadarko have dragged on for years due to disputes over terms and concerns about falling energy prices. But Eni has in recent weeks struck deals with contractors and Mozambique’s government which could help it to make a final investment decision (FID) on Oct. 31, industry sources said.
  • Mozambique reports unquantified diamond discovery

    MAPUTO CITY, 2016/07/26 In Mozambique, the National Director of Mines last week confirmed that diamonds had been discovered in the Massangena district of the Gaza province. Talking to the Maputo newspaper Notícias, he refused to say how a lot of diamonds had so far been found, but stated that exploration and prospecting activities by both local and international companies were continuing. “What I will say is that Mozambique is a country rich in almost all types of mineral resources, inclunding diamonds, but, unfortunately, we have not had the good fortune to make a thorough study and start exploration from presently on,” said National Director Elias Daude. “There are, however, companies doing research in Massangena and this has resulted in the discovery of diamonds.”
  • Mozambique seeks investors interested in graphite processing in Ancuabe

    MOZAMBIQUE, 2016/05/17 The graphite processing plant in Ancuabe, northern Mozambique, will be reactivated, and Mozambique is seeking an investor for the project, said Thursday in Balama the President of Mozambique.
  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • Puma Energy inaugurates fuel terminals in Mozambique

    SINGAPORE, 2015/11/22 Puma Energy inaugurated new bitumen and fuel terminals in Mozambique, increasing its storage capacity in the country to 275,500 cubic metres, the company said in a statement issued Tuesday. The new terminals in Matola, near Maputo, include 11 tanks that together added 115,000 cubic metres storage. The bitumen terminal is intended to help reduce Mozambique’s dependence on bitumen imports, whereas the fuel terminal was built to create a new supply line from the nations of the Southern African Development Community (SADC).
  • Mine in Mozambique has gem reserves of 432 million carats

    MOZAMBIQUE, 2015/07/25 An independent statement shows that the Montepuez Ruby Mining concession in northern Mozambique, could contain reserves of 432 million carats of rubies and corundum, announced British multinational Gemfields, which leads the concession’s consortium. Authored by British consultancy SRK Consulting, the statement as well said that the mine could be explored for a period of 21 years, anticipating that the project would be able to generate cash flow of US$2.7 billion over its lifetime. With a estimate of increasing annual production capacity from 3.3 million tons to 5.6 million tons in 2017, in this period the project may receive investment of US$64 million, the document said.
  • Natural gas from Mozambique will supply the Japanese market

    MOZAMBIQUE, 2015/06/28 US group Anadarko Petroleum is in talks with newly formed Japanese consortium Jera to sign a arrangement for long term supply of natural gas extracted in Mozambique. Jera is a consortium set up last April by Tokyo Electric Power Co (Tepco) and Chubu Electric, the biggest and third-biggest electricity suppliers in Japan, to try to lower the price paid for liquefied natural gas.
  • Consortium sends coal mined in Mozambique to India

    INDIA, 2015/01/01 Indian consortium International Coal Ventures Pvt Ltd (ICVL) to date has shipped to India 70,000 tons of coal mined in Mozambique, which was destined for the Steel Authority of India (SAIL), said a source from the consortium. Quoted by daily newspaper The Hindu, the source as well said two shipments had been made in three months and from January 2015 the company would start to make a shipment per month of coal mined in Benga, in Mozambique’s Tete province.
  • Auroch Minerals Defines Gold Deposit Mozambique

    AUSTRALIA, 2014/12/06 Australian mining company Auroch Minerals has announced that its equitable Bride deposit in the central province of Manica holds a million ounces of gold. Using the Australian code for reporting mineral resources, JORC, the company stated that the deposit has 923,200 ounces of gold, of which 291,600 ounces are measured, 263,300 ounces indicated and 368,300 ounces inferred. On 19 November the company announced that tests have shown that it can recover between 74 and 78 % of the gold. However, the company stated that the process is from presently on to be optimised and significant improvements in the extraction rate are expected.