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    24 October, 2013
EDM signs agreement with Baobab Resources
 
London, 24 Oct (AIM) - The British company Baobab Resources on Thursday announced that it will jointly commission with Mozambique’s publicly owned electricity company, EDM, a detailed study for the power requirements of it pig iron project in the western province of Tete.
 
The memorandum of understanding (MoU) follows the Mozambican government’s unconditional approval of Baobab’s environmental impact scoping report.
 
Baobab is looking at a range of scenarios that could see Mozambique host the largest pig iron operation in the world.
 
It is planning to produce low impurity pig iron using ore from its Tenge/Ruoni deposit in Tete and locally mined thermal coal. It is currently focusing on the feasibility of building a facility to produce two million tonnes of pig iron per year
 
In Thursday’s announcement, the company added that it has discovered a significant limestone/dolomite deposit five kilometres to the northwest of the Tenge/Ruoni resource block. Samples are now being tested to see if this rock is suitable to be used as a flux in the iron making process.
 
Baobab’s managing director Ben James told AIM that “this MoU shows that EDM is not only taking this project seriously but also that it has a clear interest in working with Baobab to come up with a mutually beneficial power structure for Baobab's Tete Pig Iron Project”.
 
He added, “we are in Mozambique to make a positive difference for the country and its people, and part of that responsibility is making sure we are sensitive to the local environment. So we are very pleased that our environmental impact scoping report has been unconditionally approved by the Mozambican authorities”.
 
The Tete pig iron, vanadium and titanium project is 85 per cent owned by Baobab, with a 15 per cent share held by the International Finance Corporation (IFC), the member of the World Bank Group that focuses on the private sector in developing countries.

Pig iron is an intermediate product mainly used in the production of steel.
(AIM)
 
 
  18 December, 2014  
 
Tete province declared free of landmines
 
The western province of Tete on 17 December was formally declared free of land lines.

 
  14 December, 2014  
 
President Guebuza inaugurates Nacala airport
 
President Armando Guebuza on 13 December officially inaugurated the new international airport in the northern port city of Nacala, costing over US$250 million and built with the financial support of Brazil.

 
  9 December, 2014  
 
Low inflation in November
 
The National Statistics Institute (INE) has announced that the rate of inflation in Mozambique in November, as measured by the consumer price indices for the three largest cities (Maputo, Nampula and Beira), was 0.36 per cent.

 


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