Negotiations underway for Mozambique’s first gold refinery – Kimberley Process Unit

Login

Register

http://www.clubofmozambique.com/

Negotiations underway for Mozambique’s first gold refinery – Kimberley Process Unit

3:35 CAT | 18 May 2023

FILE - For illustration purposes only. [File photo: Notícias]

The Kimberley Process, Precious Metals and Gemstone Management Unit (UGPK) in Mozambique is in the process of negotiating with potential foreign investors who intend to install the first gold refinery in the country, a factor demonstrating the growth in the sector.

The mining sector has since 2021 been registering an increase in both declared and exported quantities of gold, partly as a consequence of UGPK control measures.

UGPK executive secretary Castro Elias points out that there is not as yet any gold refinery in Mozambique, because it has not been possible to register the quantities produced and exported. This situation has however changed in the last two years, to the extent that investors are beginning to realize that production levels now justify an investment of this magnitude.

“We are negotiating with a company that intends to install a gold refinery in Mozambique. This is important because, among others benefits, it will allow the Bank of Mozambique to buy into its reserves,” he said.

Source: Domingo