Mining company warns of unfair competition in Mozambique

Montepuez Ruby

Montepuez Ruby Mining (MRM), a company that explores ruby ​​deposits in Montepuez, warned the Cabo Delgado provincial authorities of the unfair competition that illegal miners represent, according to a company representative.

MRM, a partnership with Mozambican company Mwiriti Ltd. 75-percent controlled by UK company Gemfields, in February 2012 was granted a 25-year concession covering an area of 33,600 hectares for exploration of ruby ​​deposits in that northern province of Mozambique.

Montepuez RubyCompany director Saul Muchine, told Mozambican daily newspaper Notícias that illegal mining of rubies was increasing, with miners exporting the gems without paying any taxes on them, unlike MRM.

In 2015 Montepuez Ruby Mining was considered the largest taxpayer in the province of Cabo Delgado, having delivered about 320 million meticais (US$7 million) to the Tax Authority, due as a result of ruby auctions.

Source: MacauHub