Maputo, 21.05.2024 – Speaking at the Junior Mining Indaba in Johannesburg, the president of the Chamber of Mines, Geert Klok, invited junior mining companies to invest in Mozambique.
For historical reasons, Mozambique’s mineral resources are still relatively untapped. According to Geert Klok, President of the Mozambican Chamber of Mines, this represents a great opportunity for “junior” mining companies, as small and medium-sized mining companies involved in the exploration and development of new deposits are called. They play a crucial role in the development of the sector. Work is currently underway to research and exploit minerals such as heavy sands, rare earth elements, lithium, gold and magnetite.
Mozambique has a young but well-established mining industry, which includes, among others, heavy sand minerals, coal and graphite. In fact, Mozambique is currently the third largest producer of natural graphite in the world. Due to its geographical location, 2500 km of coastline and established logistics corridors, it is especially attractive to mining companies looking to export minerals in large quantities.
Investors in “junior” mining companies tend to be based in the UK, Canada and Australia. According to fellow panelist Boris Kamstra, investors may not be familiar with certain African countries and may be facing language barriers. This may reflect in a higher perception of risk for the investor.
African mining jurisdictions must do everything in their power to position themselves as investor-friendly. Organizations representing the mining sector, such as the Mozambican Chamber of Mines, have an important role to play not only in this context, said Klok.
The Junior Mining Indaba is a recognized meeting place to discuss the challenges and opportunities in junior mining in South Africa and other African countries. This year’s conference is in its tenth edition.