Mozambique 21 June 2016: The most transparent deal ever?
Good afternoon. The Bank of Mozambique’s decision to have its own pension fund bail out Moza Banco continues to attract controversy, despite - or perhaps because of - a press conference on Monday, where Governor Zandamela made the surprising claim that the deal was the most transparent he’d ever seen.
FREE TO READ: Bank of Mozambique governor admits he was on both sides of murky Moza deal
Up in Cabo Delgado, two key contracts were signed by the government this week to allow the onshore LNG projects to go ahead.
SEE: Mozambique government approves LNG marine terminal concessions
The government also signed an MoU with Shell, regarding its planned gas-to-liquids plant which will depend on the onshore LNG projects going ahead.
SEE: Shell puts down $2 million to pursue GTL plant in Mozambique
President Filipe Nyusi will head to Italy next month, accompanied by a trade mission and buoyed by the recent signing of the Coral South FLNG project with Italy’s Eni.
SEE: Mozambique President to visit Italy next month
And finally, Xtract Resources’ gold mine prospect in Manica is moving ahead having signed up two mining contractors to start extracting alluvial gold deposits.
SEE: Manica gold mine signs up contract miners
Have a great rest of the week.