Friday, July 12, 2024

Cabo Delgado revokes idle mining licenses to stimulate new investment

Authorities in Cabo Delgado province are canceling mineral exploration licenses that have not been used after years of being granted, in order to make room for new investments. The director of the Provincial Infrastructure Service, Norte Luali, revealed that of the 595 mining licenses initially granted, approximately 200 have been withdrawn due to their idleness. Currently, only eight concessions are operational in the region, despite the previous interest of several companies in exploiting resources such as ruby, gold and tourmalines.
The measure aims to reactivate the mining sector in Cabo Delgado, allowing new interested companies to invest and contribute to local economic development. The region has been an attraction for business groups, especially after the increase in requests for licenses, coinciding with a period marked by terrorist activities, as pointed out by studies by the Center for Public Integrity (CIP) and the Rural Environment Observatory (OMR).

It should be noted that reserve general Raimundo Pachinuapa is one of the main license holders in the region, including Mwiriti Mining Limitada, where he holds 60% of the shares. The initiative to cancel idle licenses is seen as a strategy to optimize the use of natural resources and foster sustainable development in Cabo Delgado, and it is hoped that the measure will result in economic and social benefits for the province.

Entrevistas Relacionadas

Mozambique could increase its graphite supply to 15% by 2030

Mozambique, known for its abundance of natural resources ranging...

MRG Metals creates Joint Venture with Sinowin to explore heavy sands in the country

MRG Metals, listed on the ASX (Australian Stock Exchange),...

MEF: Mining sector grew 33% in the first quarter of 2024

The Ministry of Economy and Finance (MEF) has announced...

Kenmare invests in modernization to expand ilmenite production in Mozambique

The Kenmare mining company is moving ahead with an...