This investment came from 50 companies who requested areas for prospecting and exploiting minerals. In addition, 20 concessions were granted to individuals.
But 60 per cent of this investment comes from just one company, the Irish firm Kenmare, which is mining the titanium bearing heavy sands in Moma, in the northern province of Nampula.
Momade was speaking to reporters during a meeting that the Minister of Mineral Resources, Esperanca Bias, held with mining operators. The meeting was motivated by the growth in the mining sector.
"We are discussing the problems faced by investors in mining because this sector is expanding", said Momade.
Asked about the delays in issuing mining licences, Momade said this was inevitable because "before we grant any licence, we have to ascertain the availability of the land requested, and for this we rely on information from other institutions".
A further factor is that every year the Ministry of Mineral Resources interrupts the granting of licences, in order to reassess the situation. When a new licensing period opens, there is already a queue of would-be investors to deal with, which adds to the delays in processing requests.
For her part, Bias stressed the priority of the sustainable use of mineral resources, in order to promote economic growth, improve the balance of payments, and guarantee increased participation in the sector by Mozambican businesses.
SOURCE: AIM
