Petroleum / Mining in Mozambique
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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.
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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.”
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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).
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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.
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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.
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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.
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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.
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MOZAMBIQUE, 2014/07/10
Mining company Kenmare Resources, which explores heavy sands deposits in Moma, northern Mozambique, produced 445,600 tons of ilmenite in the first half of 2014, the Irish company said in a statement issued Tuesday.
According to the statement, which reported production for the second quarter of the year, ilmenite production in the first half of 2014 rose 47 percent against the same period of 2013.
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MAPUTO CITY, 2014/05/31
The worst ever derailment on the Sena railroad in Mozambique resulted in two derailed locomotives, 26 rail cars destroyed, 150 metres of damaged rail line, 50 metres of platform removed and loss of 1,638 tons of coal.
Derailment of the train with two engines and 42 rail cars loaded with coal mined in Moatize by Vale Moçambique, subsidiary of Brazilian group Vale, as well injured train’s drivers.
The director of the Sean Line Reconstruction Brigade (BRLS), engineer Elias Xai-Xai, told Mozambican newspaper Notícias, that the platform, where the ballast, sleepers and rails sit, was the part most affected by the derailment and that replacing it would require extensive compaction of the soil.
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MAPUTO CITY, 2014/05/14
The Mozambican government next week plans to put new coal mining licenses in Tete province up for auction, followed by oil and natural gas licenses, the country’s Mining Resources Minister said in Maputo.
Speaking to financial news agency Bloomberg, Minister Esperança Bias said that “between this week and next week we will start a new auction process and revoke some licenses for which holders did not respect their contractual obligations.”
The minister said that the government had been contacted by several companies interested in offshore blocks, “who we have asked to be patient,” but she gave no details about the number of licenses that will be put up for auction.
