The government foresees that the extractive industries will have the largest contribution to the growth of the Gross Domestic Product (GDP) in 2023, according to the State Budget proposal sent to parliament.

On average across 14 sectors, the government forecasts that the Mozambican economy will grow by 5% next year, with the largest contribution in the forecast being from the extractive sector, with growth of 23.1%.

The sector with the smallest contribution is expected to be trade, with 2.3%.

The extractive sector was already at the top in 2021, when it contributed 10.7% of growth to Mozambique's GDP going forward 3.6% overall (i.e. averaged across all sectors).

Now, that front seat is expected to become even more prominent.

"The production plan of the extractive industry sector for the year 2023 foresees an overall growth of 23.1% that will be supported by increased production of rubies, coal, heavy sands (ilmenite, zircon and rutile), natural gas and construction materials," reads the State Budget proposal.

Gold production is projected to increase by 23% (to 1.3 tons) compared to projections for 2022.

In heavy sands (important for new industrial applications and electronic devices) new concessions will start up, including the largest in the country, due to the increased worldwide demand for ilmenite pigment.

As for graphite, with large reserves in Cabo Delgado to be exported for batteries for the new electric cars, projections are for "a growth in production in the order of 48% to 270,000 tons."

In the ruby field, "production is estimated to increase by 186%, representing 12.6 million carats."

Coal will continue to be on the rise due to the global energy crisis, with production ramping up to 28% and liquefied natural gas exports from Rovuma starting in the coming weeks.

Of the three liquefied natural gas projects approved for the northern region of Mozambique, the Coral Sul platform, in the open sea, far from the armed violence in Cabo Delgado, will be the first to export the reserves that are listed among the largest in the world.

The platform led by Italian oil company Eni will produce 3.4 million tons per year.

The gas has already begun to be processed on the platform, pending the filling of the first cargo ship from BP, which bought the production for 20 years.

The State Budget proposal 2023 justifies the optimism for the extractive sector.

According to the document quoted by Lusa, "gradually, the international market is opening up to trade in mineral resources and the companies in the mining area have been resuming their normal pace of production," resulting from their adaptation to a new reality.