The strategy, policies and practices of the Ministry of Mineral Resources (now called the Ministry of Mineral Resources and Energy) have the following goals:
• To ensure the sustainable exploration and development of mineral resources in Mozambique and neighboring countries ;
• The industrial development of the country and the local utilisation of its mineral resources;
• To add value to mineral resources through in–country processing;
• To promote partnerships, including the participation of Mozambican private enterprises in the sector;
• The periodic update of the legal and fiscal framework to maintain investment attractiveness in Mozambique;
• The training and institutional strengthening. The natural gas discoveries made to date are among the world’s most significant discoveries in the last 20 years. The purpose of the Project is to advance the sustainable exploration, development and production of these resources in Mozambique through the extraction, processing and export of the significant natural gas resources discovered in the offshore Area 1, Rovuma Basin. The Project represents an economic opportunity that could be transformational for the economy of Mozambique by allowing the country to become one of the world’s leading LNG exporting countries, potentially generating:
• Substantial tax and profit–sharing revenues for Mozambique, contributing substantially to the country’s gross national product;
• Significant foreign exchange income from external markets and gas supplies for industrial and domestic development in Mozambique;