On Tuesday (22), the Mozambican government approved a direct agreement with TWIGG Exploration and Mining, Lda. to expand operations at the Balama Mine, focusing on the exploration of vanadium, a strategic mineral for modern industry.
The agreement, signed in the Council of Ministers, includes funding from the United States International Development Finance Corporation (DFC) for operating expenses and the carrying out of a feasibility study for the installation of a vanadium processing unit.
The project is part of the strategy to expand the current graphite extraction operation at the Balama Mine, operated by TWIGG, a subsidiary of Syrah Resources Limited. Vanadium is widely used in metal alloys and in the production of batteries, which positions Mozambique as an important potential supplier in the global minerals market.
The government considers this project vital for the country’s economic development, highlighting the creation of jobs and the generation of tax revenue. In addition, the initiative should strengthen Mozambique’s position in the supply chain of essential minerals for high technology.
TWIGG was recognized as “Mining Company of the Year” at the Mozambique Mining and Energy Conference in May, due to its commitment to innovation and sustainability. The company is also highlighted for its transparency, according to the 2023 Extractive Sector Transparency Index by the Center for Public Integrity.
The agreement reflects the government’s commitment to promoting the diversification of the mining sector and ensuring that operations benefit local communities. With the exploitation of vanadium, Mozambique can consolidate itself as a key supplier of critical minerals, attracting new investments and increasing exports of high value-added products.
