Mining & Energy
"Situation in northern Mozambique should not be seen as a way to delay investment"
The Mozambican government is to sign a contract for the operation of iron ore mines in Tete province with Capitol Resources today, an official source said.
The company, a subsidiary of Australia’s Baobab, will invest in iron ore extraction and build a foundry where it will use the ore in steel production. It is also planned to install a thermoelectric plant, according to a resolution passed on November 14 in a cabinet meeting.
The concession being awarded will last 25 years and covers an area of 19,878 hectares in the districts of Chiúta and Moatize.
The government estimates that 3,500 jobs will be created during the construction phase of the project, with 2,100 lasting into the operation phase.Source: Lusa
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