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    Mozambique-India-Economy

    Indian mining firm to begin Mozambique operations in 2019

    APA-Maputo (Mozambique)

    The managing director of Sol Mineração Moçambique, Ravibhusan Bhardwej, has said the company will start coal mining operations next year in Mozambique's natural resource-rich western province of Tete.

    Sol Mineração Moçambique, a subsidiary of the Sunflag group in India, will operate in the Mutarara district, where it has a concession of 4,000 hectares, and the coal to be extracted will be exported to the Indian market.

    Bhardwej told APA in a brief interview late Frday in the capital city Maputo that in addition to coal, the concession granted to the company contains gold, which is currently being exploited by artisanal miners from Malawi and the Democratic Republic of Congo.

    Mozambique is the scene of a global coal rush, but the former,Portuguese colony’s vast reserves will be exploited at a snail’s pace,as it struggles to rebuild ports, roads and railways.

    Mozambique’s geography and geology are promising. Lying on Africa’s,southeast coast, it is in a prime position to ship coal to hungry and,growing Asian markets such as India and China.

    Its northwestern Tete province is believed to hold one of the world’s,largest untapped coal reserves that producers compare with Australia’s,coal-rich Bowen Basin.

    An International Monetary Fund (IMF) report showed that some $3 billion have been injected into Mozambique in the last five years alone, and analysts predict that is likely to multiply as the country attracts foreign investment.


    CM/afm/APA

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