Mozambique has introduced a new mining law requiring the state to hold a minimum 15% stake in all mining ventures and restricting exports of unprocessed minerals. The legislation is aimed at increasing national control over strategic resources and ensuring greater economic benefits from the country’s growing mining sector. The law requires the state-owned National Mining Company to maintain a free-carried, non-dilutable interest in every project across the mining value chain. It also mandates local processing of minerals unless special exemptions are granted. Mozambique is a major producer of graphite, a critical material used in electric vehicle batteries, and also hosts significant ruby and coal operations. The move mirrors similar resource-nationalism policies adopted elsewhere in Africa as governments seek to capture more value from the global demand for critical minerals.
CNBC Africa
