Mozambique-Russia-Summit

Mozambique eyeing Russian investment in hydrocarbons, mining

APA-Maputo (Mozambique)

President Filipe Nyusi is using the inaugural Russia-Africa Summit to woo more Russian capital for Mozambique’s nascent hydrocarbons and mining sectors, APA learnt here on Wednesday.

According to Mozambique’s presidency, Nyusi is expected to discuss trade and investment cooperation with his Russian counterpart Vladimir Putin on the sidelines of first-ever Russia-Africa Summit that kicked off on Wednesday in the Black Sea city of Sochi.

"Mozambique’s focus for the summit will be on hydrocarbons, energy and mining where the country is already cooperating with Russia," the presidency said in a statement.

Russian firm Rosneft already has a contract, in partnership with US oil and gas giant ExxonMobil, for the exploration and production of oil and gas in the Angoche area, off the coast of Nampula province, and in the Zambezi basin.

Mozambique is optimistic that the current contract with Rosneft would bring added value in both natural gas and oil.

Deputy Mozambique Mineral Resources and Energy Minister Augusto Fernando is quoted by state-controlled Radio Mozambique as saying that Russian firm Tazetta Resources is exploiting heavy mineral sands in Pebane in Zambezia province, although production is still only “at an experimental stage”.

He also hoped to cooperate with Russia in diamonds.

Cooperation with Russia in energy is “embryonic”, Fernando said.

He revealed that Russia is interested in the coal deposits in Niassa province and in planned electricity transmission lines to Angoche and to the Salamanca area in Maputo province.

CM/jn/APA

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