Mozambique: Funding of almost €60M for graphite operations - Lusa
Folha de Maputo (File photo)
The Mozambican government yesterday approved a resolution authorising Capitol Resources, a subsidiary of Australia’s Baobab, to carry out mining activities in the district of Chiúta, central Tete province.
The resolution was approved during the 40th ordinary session of the Council of Ministers, held this Tuesday in Maputo, at the end of which spokesman Armindo Ngunga explained that the resolution assigned rights to the company it to carry out activities in the region including iron production and steel processing.
“The contract is valid for 25 years, subject to renewal and constant conditions according to the government’s plan,” he said, adding that the Capitol Resources project includes the construction of a steel plant and a thermoelectric plant.
The Council of Ministers also considered the conclusions and recommendations of the Land Consultation Forum, held this month in Maputo.
The ninth session of the Land Consultation Forum, held on 8 and 9 November and opened by President Filipe Nyusi, highlighted the need to adopt a land policy and timely revision of the Land Law, now 20 years old, Ngunga said.
The Council of Ministers session also reviewed cooperation initiatives between African and Asian countries, a platform the executive considers important for Africa, and for Mozambique in particular.
“These initiatives are very important for the country because they open a window of funding for socio-economic development and infrastructure projects,” Ngunga said, adding that they also open possibilities for cooperation with Asian countries in the areas of technology, science, and guaranteeing maritime safety in the Mozambique Channel.
In Asia, these initiatives are led by China, Japan and India.
The Council of Ministers also approved a number of resolutions, including the ratification of the United Nations Educational, Scientific and Cultural Organisation (UNESCO) Convention on the Protection of the Underwater Cultural Heritage.
Adopted in 2001, the Convention defines the basic principles for the protection of the underwater cultural heritage, with provisions for an international cooperation scheme and practical guidance for dealing with such assets.
Leave a Reply
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.