The recently undertaken extensive geological surveys in Mozambique have revealed new mineral deposits-graphite, iron ore, among others-fueling hopes for the country’s economic growth in the Southern African state.
According to Mozambique’s Mineral Resources Minister Esperance Bias, the mining industry in Mozambique is getting bigger, seen as great news to the country because it will also mean more income being generated.
Bias pointed out that various deposits like basic metals such as graphite and iron have been discovered over the last few years when the country undertook extensive geological surveys, she told the African Mining Briefonline.com
In the western province of Tete, mines have opened to exploit the huge coal reserves and this has led to an increase in coal exports. This year, they expect to reach 6.5 million tons in exports, while last year 3.8 million tons were exported at a value of US$ 370m.
Coal companies issued mining concessions by the Government intend to create a capacity to transport over 11 million tons of coal per year to the port by 2015. Capacity is due to continue to expand to 13 million tons in 2016 and 18 million tons by 2017.
The coal companies have contributed significantly to the creation of jobs and have increased the volume of business for small and medium sized Mozambican enterprises.