Mozambique to Revise Mining Law

7 July 2011 (Last Updated July 7th, 2011 18:30)

State-owned Empresa Moçambicana de Exploraçäo Mineira is expected to gain stakes in several strategic mining projects, following the unveiling of the Mozambique Government's plans to revise the mining laws in the state. Mozambique's mineral resources minister Esperanca

State-owned Empresa Moçambicana de Exploraçäo Mineira is expected to gain stakes in several strategic mining projects, following the unveiling of the Mozambique Government's plans to revise the mining laws in the state.

Mozambique's mineral resources minister Esperanca Bias said the government is conducting a series of meetings with licence holders and other parties regarding its plans.

The changes to mining law will affect all mining activities, including coal, gold, uranium and all other minerals, reports Bloomberg.

The new law will replace the mining law of 2002, and give the state the right to take back concessions not developed within a certain period.< /p>