The Bank of Mozambique (BdM), through a report cited this Friday, June 20, by Lusa, revealed that gold reserves appreciated by 27.1% in 2024, reaching 332 million dollars (20.9 billion meticais).
The document recalls that in 2023, reserves increased by 13.4% to 261.1 million dollars (16.5 billion meticais). “In 2022, Mozambique held gold reserves valued at 230.3 million dollars.”
According to the central bank’s explanation, foreign exchange reserves consist of monetized gold, in bars or ingots, fine silver and platinum, special drawing rights, foreign currency, and other assets expressed in foreign convertible currency.
For this year, the government estimates that gold production could increase by 1.64 thousand tonnes, with nearly half intended for export. These data are included in the 2025 Economic and Social Plan and State Budget (PESOE), approved in May by Parliament.
“In the context of gold production, a growth of 1% is projected for 2025 compared to 2024, as a result of the withdrawal of mining companies (in Manica province), following the burning and vandalism of the facilities at the Bandire Miners’ Association during protests,” the PESOE states.
The budget document, prepared by Daniel Chapo’s government, adds that this forecast was made based on the effects caused by post-election protests that lasted nearly five months in the country and caused damage, especially in the extractive industry sector.
Source: Diário Económico (DE)
