The setting of reference prices for mineral exports allowed the state to raise revenues by 305.4% between July and December 2023 in the heavy industry sector alone.

And according to NewsThe Ministry of Economy and Finance (MEF) is working to recover around 400 million meticais in taxes on the mining industry.

The newspaper recalls that in July last year the government published the first monthly bulletin of reference prices for mineral exports to deduct taxes on production.

The aim is to combat overcharging, which was damaging the state by around 250 million dollars a year.

The reference prices are determined by the MEF, the Mozambican Tax Authority; the National Mining Inspectorate; the General Inspectorate for Mineral Resources and Energy; and the Kimberley Process Management Unit.