Moz mining investment jumps to US$804 million

MAPUTO – Direct investment in Mozambique’s mining sectors jumped to US$804 million in 2008 from US$101 million in 2004 as international interest in the southern African country rose, the country’s mines minister said.

Mozambican newspaper ‘O Pais’ yesterday quoted the Minister of Mineral Resources, Esperanca Bias, as saying the growth had resulted in the value of mining production rising to US$257 million from US$35,2 million in the same period.
‘The production of mineral resources will have a further impact on economic growth and the improvements of national budget with the undertaking of projects under way in the areas of coal industry, mineral industry and the discovery of hydro-carbonate reserves in the country, she said.
Bias said Kenmare Resources’ US$460 million titanium mine in northern Mozambique was the most significant recent investment. -Nampa-Reuters