Mining & Energy
Chevron buys Anadarko for $33 bn - but Mozambique a small part of the deal - Hanlon
In file CoM
The Mozambican Ministry of Mineral Resources and Energy on Wednesday announced a reduction in the price of petrol and an increase in that of diesel, taking effect as of midnight.
The price of a litre of petrol falls by 1.2 per cent, from 69.53 to 68.73 meticais. Diesel, on the other hand, rises in price by 1.4 per cent, from 64.66 to 65.56 meticais a litre.
There is a much more substantial rise in the price of LPG cooking gas, which goes up from 61.13 to 64.13 meticais a kilo, an increase of 3.3 per cent.
There is no change in the price of kerosene, which remains 50.33 meticais a litre. Likewise, the price of the compressed natural gas used to power vehicles remains unchanged at 31.97 meticais per litre equivalent.
The Mozambican government policy is to review fuel prices every month, and raise or lower them when the import price, expressed in meticais, moves in either direction by more than three per cent. The determinant factors are thus the world market price of refined fuels, and the exchange rate of the metical against the US dollar.
The prices announced by the Ministry are for the port cities where fuel is unloaded (Maputo, Beira, Nacala and Pemba) and the surrounding areas. Elsewhere in the country, fuel distributors are allowed to add their transport cost in the final price.
The last alteration in fuel prices was in mid-August.Source: AIM
Auction of Mozambican rubies raises 55.3 million dollars
Mining cooperatives could generate about US$3 billion in 5 years