The Mozambican government is preparing to reform the organic structure of the Tax Administration (AT) in order to force companies operating in the extractive sector to comply with their tax obligations. To this end, the executive should soon announce a "risk management commission" with a view to starting the reforms. A report by the Fund...
Category: Industry
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Government to review mining sector legislation
The government wants to review mining legislation by the end of this year. The measure aims to prevent national mining products from continuing to be exported raw. "Almost all of our mining projects export raw products and that's what we want to change," said Silvino Moreno, Minister of Industry...
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After all, don't mining companies declare all their production to get very low taxes?
The Mozambican authorities consider that "half of the exports that take place in Mozambique come from mining, but this number of exports is not reflected in the taxes, which are very low". The Executive's conclusion is contained in the summary of a meeting that members of the government recently held with representatives of companies in the mining sector, demanding that...
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Oil industry should set carbon targets at COP28, says TotalEnergies CEO
The world's oil and gas companies should set targets for reducing greenhouse gas emissions by 2030 at the upcoming COP28 world climate conference, the CEO of French company TotalEnergies, Patrick Pouyanne, said on Wednesday. "If we can bring something to COP28 as an oil industry and...
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After Mozambique's graphite, billionaire Elon Musk moves to acquire lithium in Zimbabwe
South African billionaire Elon Musk has reportedly signed a contract to buy graphite from Balama, in the province of Cabo Delgado, in northern Mozambique. He intends to use the ore to produce batteries for Tesla's electric cars. But he's not stopping there and is engaging in high-level talks with...
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"Weak legislation on the extractive industry has caused the sector to stop paying 300 M$ to the Mozambican state"
Oxfam, a Mozambican non-governmental organization, says that weak legislation on the extractive industry has led companies in the sector to avoid paying the Mozambican state more than 300 million dollars in 2021. According to Oxfam's Tax Policy Advisor in Mozambique, Henrique Machado, the tax regulations surrounding...
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Carlos Zacarias opens the first certification center for precious stones
The Minister of Mineral Resources and Energy (MIREME), Carlos Zacarias, inaugurated the first commercial warehouse where the Kimberley, Precious Metals and Gems Process Management Unit operates in the city of Chimoio, Manica province, on Monday (03). The country also plans to set up more certification centers for precious stones, diamonds and gems to...
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Rogério Samo Gudo considers the structure of financing for the industry unattractive
The president of the Industrial Association of Mozambique (AIMO) considers the cost structure of financing offered by banks to the industrial sector to be unattractive for the materialization of concrete and sustainable projects within the framework of the revitalization of the national manufacturing industry. According to Rogério Samo Gudo, who was speaking in an interview with AIM, the financing that currently exists...
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"Resource exploitation brings more risks than benefits to communities," concludes study
A study on the governance of extractive resources, carried out by a consortium of civil society organizations, has concluded that the exploitation of natural resources in Mozambique has brought more risks than benefits to local communities. The data from the study was shared yesterday in Maputo by Sérgio Chichava, from the Institute of Social Studies and...
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Project for industrial census in the country launched
Yesterday in Maputo, the Ministry of Industry and Trade launched a project to carry out an industrial census in the country. The results of the study will be used to evaluate plans to revitalize some forgotten industries, said the Minister of Industry and Trade, Silvino Moreno. At the launch of the project called General Mapping of Industry...