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The Mozambican Investor

Issue: 576th
By Adrian Frey

Date: 21 July, 2017 Email us: themozambicaninvestor@clubofmozambique.com

Vale increases Moatize coking coal output

The Brazilian mining giant Vale on Thursday announced that production of coking coal from its open cast mine in Moatize, in the western Mozambican province of Tete, increased by over 153 per cent in the second quarter of 2017 compared with the same period last year. Production jumped to 2.05 million tonnes between April and June, representing a 92 per cent increase year on year. In 2016, low coal prices forced Vale to make over two thousand of ...

Mustang Resources secures loan for Montepuez ruby project

The Australian mining company Mustang Resources on Thursday announced that it has raised a loan of 8.5 million Australian dollars (about 6.7 million US dollars, at current exchange rates) to help cover the expense of developing its ruby mine in Montepuez, in the northern Mozambican province of Cabo Delgado. According to the company’s managing director, Christiaan Jordaan, the funding arrangement marks another key step in Mustang’s growth as ...

Construction sector is gaining ground in Mozambique – Economist

 

The Economist Intelligence Unit (EIU) believes that the construction sector in Mozambique is gaining ground despite the economic and financial crisis, and will recover further in 2018, although it remains below 2014 levels. "Despite not yet recovering to pre-2014 levels, construction activity seems ready to recover. Even with the freezing of foreign aid and the accumulation of arrears in payments and debt increase, the Government has managed to ...

Construction sector is gaining ground in Mozambique – Economist

Mozambique: “We want to see those information gaps closed” – IMF Press Briefing

[Partial]Transcript of IMF Press Briefing July 20, 2017 Let me take a couple questions online. (...) Mozambique: the IMF’s Mr. Lazare, our mission chief, has said that, quote, “critical information gaps remain unaddressed regarding the use of loans, proceeds”, close quote. Please be more specific about what the IMF sees as the information gaps, and how they can be filled, with what information and in what detail? First of all, we ...

ENH and Mozambican entrepreneurs formalise promotion of local content

 

The National Hydrocarbons Company (ENH) will cooperate with the Mozambican Chamber of Commerce (CCM) and the Association of Small and Medium Enterprises (APME) in promoting local content development. The three entities yesterday signed a memorandum of understanding in Maputo establishing the basis for a more interactive relationship and fostering cooperation in the provision of services in the hydrocarbons sector. The memorandum, whose period ...

ENH and Mozambican entrepreneurs formalise promotion of local content

Agriculture may grow 5.9% this year in Mozambique

 

Mozambican agriculture grew by 2.6 percent in 2016, a year plagued by drought and floods, and is this year expected to more than double that. The Minister of Agriculture and Food Security, José Pacheco announced his forecast yesterday at his ministry’s 3rd Coordinating Council. His forecast is based on factors such as the improvement of the climatic conditions and the exchange rate appreciation of the metical in relation to the main import ...

Agriculture may grow 5.9% this year in Mozambique

More than 7 million economic agents in Mozambique are informal

 

More than seven million Mozambicans work in the informal sector across different sectors of activity, with emphasis on agriculture, and contribute more than 60 percent to the gross domestic product of Mozambique and more than 80 per cent to the employment rate in the country. These figures were released in Maputo on Wednesday by the Executive Secretary of the Mozambican Youth Chamber of Commerce and Industry, Noémia Simão at a one-day ...

More than 7 million economic agents in Mozambique are informal

Plague of rats devastates farmland in Tete

 

A plague of rats has devastated extensive planting of sesame and bóer beans in Tete’s Mutarara district, leaving small farmer dependent on food aid. The situation is most worrying at the administrative post of Inhangoma, where farmers have lost most of their production. Mutarara District Economic Activities Services confirms the outbreak and its negative results, and has sent a team of experts to calculate losses. Producers say they are ...

Plague of rats devastates farmland in Tete

Attorney General’s Office registers 11 cases of human trafficking in the first half of year

 

Mozambique’s Attorney General's Office reported 11 cases of human trafficking in the first half of this year, three more than in the same period of 2016. Speaking at the launch of World Day to Combat Trafficking in Persons activities, Deputy Attorney General Amabélia Chuquela said that most of the cases concerned labour exploitation, and some the extraction of human organs. The cases reported in the first half of the year all involve ...

Attorney General’s Office registers 11 cases of human trafficking in the first half of year

They profited in times of war and now are in trouble – Mozambique

 

Some people In Mozambique made a lot of money during the armed clashes between government forces and the Mozambican National Resistance (RENAMO), the country’s largest opposition party. The escorting of convoys by the military in order to maintain the safety of civilians and goods gave rise to lucrative opportunities. Some entrepreneurs built restaurants, lodgings and resorts at places the escorts left from and arrived at. Many young people ...

They profited in times of war and now are in trouble – Mozambique

Chronic malnutrition costs Mozambique more than 62 billion meticais a year

 

In November 2011, Gloria gave birth to her fifth child. When first weighed, Boane Health Centre in Maputo province diagnosed the newborn as underweight: she weighed 2.1 kilograms, about 400 grams less than normal. Seven years went by and she grew up. The energy characteristic of her age does not let her keep still. Active and smiling, we found her running after a ball with her brothers and friends in one of the expanding neighbourhoods in the ...

Chronic malnutrition costs Mozambique more than 62 billion meticais a year

Conflicts between mining company and communities in Tete cause young man’s death

 

A dispute between mining company Vale Mozambique and the community of Nhanchere, in the village of Moatize, has claimed the life of a 25-year-old man, Hussen António Laitone. The incident happened on July 13, but was only reported by the Moatize weekly Malacha last Friday (14 June). The news then drew the attention of other national and international media, as well as civil society organisations. Yesterday (20 June), Malacha editor ...

Conflicts between mining company and communities in Tete cause young man’s death

 

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