The country’s extractive industry grew by 13.6 per cent during the first six months of the year. This performance, considered satisfactory, was mainly driven by the contribution of natural gas, coking coal, gold, heavy sands and ilmenite, the newspaper Noticias reported on Monday (2).
According to the Balance of the Economic and Social Plan and State Budget (BdPESOE) for the first half of the year, the rate of realisation of planned annual activities in the sector reached just 49%, failing to meet targets.
Among the main factors cited for the failure to meet planned targets were adverse weather conditions, namely excessive rainfall, and insecurity in regions affected by terrorism.
The document also indicates that 42 types of mineral resources are expected to be produced this year, including six metallic, 16 non-metallic, one ornamental rock, 17 precious and semi-precious stones, and two fuels.
The production of natural gas and condensate, both onshore and offshore, is also among the planned targets.
With regard to natural gas, a resource that has generated great expectation in the domestic market, the balance sheet shows a significant increase in revenues, which grew by 102.1 million US dollars in the first three months of this year, compared to the same period last year.
‘From the start of exports in November 2022 until June this year, 63 shipments of liquefied natural gas (LNG) were recorded, corresponding to 4.48 million tonnes already sold,’ reads BdPESOE.
Data recently released by the government shows that more than 20 of these shipments were made this year, indicating a positive behaviour in the sector. The main export destinations for natural gas during this period were India, South Africa, South Korea, Singapore and China.
A few days ago, Mozambican President Filipe Nyusi announced that in the period 2020-24, the extractive sector earned more than 12.3 billion dollars from the export of products such as coal, natural gas, heavy sands, rubies, sapphires and emeralds.
The extractive industry plays a fundamental role in the development of the global economy and, in Mozambique, the sector continues to drive the evolution of the economy, with an estimated growth of 15.5 per cent in recent years, making it one of the areas that contributes most to the ‘good performance’ of the national trade balance.
Mozambique has a wide range of natural resources, including natural gas, coal, heavy sands, rubies, sapphires and emeralds, the export of which has earned the country more than 12.3 billion dollars (777.3 billion meticals) since 2020.
