12 °c
London
Thursday, June 1, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Agriculture

Mozambique: Obtala updates on Forestry investment, offtake arrangements

FurtherAfrica by FurtherAfrica
February 18, 2016
in Agriculture, Economy, Industry and Commerce, Mozambique, Natural Resources
Reading Time: 1 min read
859 9
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Obtala Resources has entered separate agreements with three independent, international timber-focused investors to secure an investment of about USD3m for its forestry division in return for minority equity interests and certain off-take rights over specified Mozambique forest concessions.

Deputy chairman Kevin Milne commented:

“This investment allows us to materially progress our forestry business in Mozambique. It ensures that Obtala retains a strong balance sheet without the requirement to issue equity or relinquish material interests in the forestry business which we value highly.

Kevin Milne
Kevin Milne

“We now look forward to bringing forward revenues through access to new international export markets that were not previously open to us.

“More specifically, Basic Materials Ltd, an off taker and investor, which is based in Hong Kong, Shanghai and Russia, affords a route to these valuable markets.

“Whilst, the creation of the distribution centre in Maputo will provide direct access to local consumers on both a wholesale and retail basis.

“Finally, this investment will ensure we can invest in the labour, health and education programmes in Mozambique and ensure we can contribute socially in our host country. We look forward to advising shareholders on the roll out and delivery of the business plan.”

Source: Interactive Investor

Related

Tags: forestryKevin MilneMaputoObtala Resourcesofftaketimberwood
ScanSendShare347Tweet217Share61Pin78Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Energy

Mozambique LNG project expected online by 2026-2027: ONGC

by Club of Mozambique
June 1, 2023
Economy

IMF program restoring some confidence in Ghana’s economy

by FurtherAfrica
May 31, 2023
Logistics

Mozambique Beira Port lead containers in Southern Africa

by Club of Mozambique
May 31, 2023
Mining

Top 10 richest mineral-producing countries in Africa

by 360 Mozambique
May 30, 2023
Diplomacy

Ukraine and Mozambique to bring political and trade relations to new level

by Club of Mozambique
May 30, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Energy

Mozambique LNG project expected online by 2026-2027: ONGC

by Club of Mozambique
June 1, 2023
0

The Mozambique LNG export project, which has been under force majeure due to attacks by Islamic State terrorists, could begin...

Read more

AFC secures US$625M syndicated loan with new lenders from middle east and asia

June 1, 2023

Top 5 licensing rounds to watch in West Africa

June 1, 2023

IMF program restoring some confidence in Ghana’s economy

May 31, 2023

5 ways Nigeria can advance its hydrogen market

May 31, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107,190 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...