[2019-01-18] Mozambique sets up gold trading warehouse in Manica

Source: Macauhub

Mozambican state-owned Empresa Moçambicana de Exploração Mineira (EMEM) will set up a commercial warehouse in the province of Manica for the purchase and sale of gold mined in the province, the deputy minister of Mineral Resources and Energy announced on Thursday.

Augusto Fernando said that setting up a commercial gold warehouse in Manica, in central Mozambique, follows EMEM’s positive experience in the province of Nampula, northern Mozambique, where it started operating in 2018.

“The aim is to ensure that all the resources explored in the national territory benefit the country. Nampula’s gold trading warehouse has allowed EMEM to collect 9,000 kilogrammes of gold last year,” said Fernando, quoted by daily newspaper Notícias.

The activity of the new company is part of the Government’s efforts to halt the illegal mining and sale of gold.

Increasing the powers and autonomy of inspection services is also part of the fight against illegal trade and smuggling of gold in the country, the deputy minister added.