CAPE TOWN, South Africa, July 31, 2024/ -- Mozambique's government approved the creation of a state-owned mining company to exploit the country's critical minerals, including graphite, of which it is the world's third-largest producer. Despite its significant reserves, Mozambique currently only utilizes one third of its graphite resources and mining capacity. The new company ­– Mozambique Mining Exploration Company (http://apo-opa.co/46r7vqy) – aims to increase production and development across the country's critical mineral sector.

 

To promote Mozambique’s critical mineral prospects, the Chamber of Mines of Mozambique has joined this year’s Critical Mineral Africa (CMA) Summit (http://apo-opa.co/3WKxZAg) as a strategic partner. Geert Klok, Chairman of the Chamber of Mines of Mozambique, will engage in high-level panel discussions and exclusive networking sessions to showcase the latest developments and lucrative opportunities for global investors in Mozambique's critical mineral sector.

 

The Critical Minerals Africa 2024 Summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com 

 

“Mozambique’s burgeoning critical mineral sector represents an opportunity for the country to enhance job creation, economic growth, and contribute to the global fourth industrial revolution. Cooperation between private and public sector entities with global stakeholders is crucial to unlock the capital and technologies required for continued market growth,” states Rachelle Kasongo, CMA Conference Director.

 

To maximize mining sector’s contribution to GDP growth, Mozambique – through private and public sector mining entities such as the Chamber of Mines of Mozambique ­– is optimizing cooperation with global mining sector stakeholders. The country is conducting a series of graphite exploration activities in the Cabo Delgado province with Australian mining firm Triton Minerals and Chinese miner Shandong Yulong Gold. Mozambique is also working with UK mining firm Tirupati Graphite on graphite exploration and production at the 119.6 million tons Montepuez Mine in Cabo Delgrado. The country is home to the world’s largest graphite mine – the Balama Graphite Project (http://apo-opa.co/3WLqg51) – producing 350,000 tons per year to supply global electric vehicles technology firms such as Tesla and South Korea’s Posco Future M. Chinese miner DH Mining. The mine will start the production and processing of the over 5 million tons of graphite resources in Nipepe (http://apo-opa.co/46sPZlI) district in the Mozambican provinces of Niassa in December 2024, with over $90 million invested in infrastructure to date.

 

As the official representative of Mozambique’s mining sector, the Chamber of Mines of Mozambique will provide insights into the current state and future prospects of the country’s graphite sector at the CMA summit.

 

Distributed by APO Group on behalf of Energy Capital & Power.