MOZAMBIQUE’S President Daniel Chapo has signed into law a requirement for 15% state ownership in all mining ventures, along with a ban on exporting unprocessed or semi-processed minerals, as the country moves to extract greater economic value from its resources, said Reuters on Thursday.
The legislation, passed by parliament in May, gives the state – acting through the National Mining Company (ENM) – a minimum free-carried and non-dilutable 15% stake in every mining project at any stage of the value chain. Unprocessed mineral exports will be prohibited except where a specific ministerial authorisation is granted based on approved plans for eventual local processing, said Reuters.
It was not immediately clear whether the new rules would apply to existing mines, most of which operate under long-term agreements, the newswire added.
Mozambique is the world’s third-largest graphite producer, behind China and Madagascar, and hosts the Balama graphite operations of ASX-listed Syrah Resources, one of the world’s largest graphite deposits. Graphite is a key component in batteries for electric vehicles and energy storage.
The country also hosts the Montepuez ruby mine, owned by Gemfields, and significant coal assets previously held by Rio Tinto and Vale.
The move aligns Mozambique with a broader continental trend. Zimbabwe, Africa’s leading lithium producer, and the Democratic Republic of Congo, the world’s top cobalt supplier, have both tightened controls on raw mineral exports in recent years.
