The agency says the Marrupino mine is owned by the Highland African Mining Company which is a wholly owned subsidiary of Noventa, a company based in the British tax haven of Jersey.

Noventa was recently affected by the international financial crisis, and as a result Highland African Mining shut down its operations in Zambezia, and laid off the workers.

AIM quotes the Mineral Resources Ministry as saying it has worked with Noventa to establish new commercial partnerships, which solved the financial problem, and the company appointed a new chairman and managers in June, and capital was raised which will allow the Marrupino mine to re-open.

The objective of Noventa’s operations is to extract and process tantalum concentrate from the tantalite ore. Marrupino has the capacity to produce 441,000 pounds of tantalum a year, and export markets are said to be guaranteed.

Tantalum is a highly corrosion-resistant rare metal, which is extremely hard and highly conductive of heat and electricity. Its main use is for electrical components such as capacitors and high power resistors, which are found in mobile phones and computer mother boards.

Tantalum’s resistance to acids, including those in the human body, also makes it ideal for surgical instruments and implants.

Resumption of production at Marrupino guarantees 350 jobs, the Ministry says, and “sends a positive signal to the sector after the financial crisis”.

Noventa believes the future for Mozambican tantalum production is bright. At its half yearly report issued at the end of June, the Noventa board said it believed that “the medium term outlook for the metal is encouraging, as demand is expected to outstrip supply in 2010 and 2011, following one third of global primary production having been withdrawn from the market in the last nine months”.

“Government inventories are now exhausted and customer stocks are at historic low levels”, the board added. “New projects in the Middle East and Canada are at least two years away from commercial production”.

The Board also believed that the world demand for tantalum “will be pushed higher next year by an increase in the production of micro-electronic goods after a period of recession”.

Source African Press Agency

Net News Publisher

A statement from the Mineral Resources Ministry on Thursday said the deal was valid for three years.

“The contract-program will run between 2009-2011, it allows ENH to define the parameters in which the state will participate in the petroleum sector, fundamentally to increase EHN´s activities to boost research, production, processing, distribution, transportation and commercialization of hydrocarbons in partnership with local and foreign entities,” the statement said.

EHN Chief Executive Nelson Ocuane told APA that the agreement would help the company secure financing the tendering process of the company for fuel and gas projects.

ENH and foreign investors recently announced plans to spend US$1.425 billion in gas and oil exploration in Mozambique by 2011 and maximize Mozambique´s gas and oil potential of up to 15 trillion cubic feet.

The southern African state is encouraging foreign companies, who provide most of the funding, to participate in exploration particularly on the nation’s resource-rich central and northern regions.

In this regard, at least 14 foreign companies are active in Mozambique searching for gas and oil.

Source African Press Agency

Net News Publisher

How People Arrived Here:

Mozambique National Oil Company, Empresa Nacional De Hidrocarbonetos, national oil company of mozambique, Empresa Nacional de Hidrocarbonetos de Mocambique, empresa nacional de hidrocarbonetos home office