As part of measure 8 of President Nyusi PAE economic stimulus package which aims to raise the raise the allocation of natural resources tax revenues from 2,75% to 10% to the provinces where extraction takes place, Mozambique announced this week the results of the international tender for the oversight of exports.
The responsibility for certifying quantities, prices, and specifications of minerals extracted and exported from the country was secured by the French company SGS.
Speaking in an interview to the Radio of Mozambique this week, Deputy Minister of Economy and Finance Amílcar Tivane estated that the company is set to “guarantee the verification of specifications, prices, and quantities of mineral products.”
SGS, with its extensive international reputation in the sector, has already initiated groundwork in the region to establish an action plan, having signed a three-year contract with Mozambican authorities, pending approval from the Administrative Court, Tivane continued.
Also read: Malawi and Mozambique forge stronger economic ties and regional integration
Tivane underlined SGS’s extensive experience and international standing in the field, substantiating the government’s choice.
Amílcar Tivane emphasized the crucial need for monthly reports from mining sector companies to align with regulations governing the control of quantities, specifications, and prices.
The involvement of SGS aligns with the Mozambican government’s commitment to address inadequacies in monitoring the extraction and export of minerals from the African country, Tivane disclosed.
“Insufficiencies in information have been identified in certain reports,” he continued, emphasizing that “Mozambique boasts rich natural resources and should reap greater benefits from these reserves.”
Also read: IMF wraps mission highlighting Mozambique’s economic progress amid challenges
This move signifies the government’s dedication to bolster transparency and accountability within the mining sector, addressing previous shortcomings in ensuring accurate reporting and adherence to regulatory standards.
The partnership with SGS marks a significant step towards bolstering Mozambique’s economic landscape, fostering confidence in the integrity of its mineral trade and fortifying its position in the global market.
