AGP Executive Report
Last update: a minute agoMining: Mozambique’s cabinet approved a 20-year extension for Kenmare’s Moma heavy-mineral sands operations, through 2044. The company pledged at least $200 million for equipment and infrastructure and $50 million for social projects; royalties will rise over the extension. Gas: ExxonMobil doubled its stake in the Rovuma LNG project to 50% after an asset swap with Eni, reinforcing plans for an $30 billion development targeting a final investment decision by the end of 2026. Trade and logistics: DP World plans a weekly China–Africa shipping service from late November, linking Maputo with major Asian ports. Mozambique and Russia are also working on a direct sea-freight line, with a memorandum expected in 2027. Rail: State rail company CFM is preparing tenders for private operators on selected routes, as freight volumes rose 14.9% year on year in the first quarter. Local industry: Helios is targeting a stake of up to 49% in flour miller Merec, while 53 Mozambican SMEs have completed preparations for international quality certification to compete for energy-sector contracts.
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