Mozambique is one of the fastest growing and most secure African economies driven by large resource developments such as BHP's Mozal Aluminium Smelter and CVRD's Moatize coal developments. Mozambique has strong World Bank and IMF support, has been a democracy since 1992 and supports 100% foreign ownership of resource projects.
Population: 25 million
GDP Growth in 2012: 7.4% (2011: 7.3%)
Average Inflation in 2011: 10.4%
Main export market (% 2011): Netherlands (38.9%)
Government Budget: In Deficit
Exports in 2011: US$3.5 Bil (2010: US$2.9 Bil)
Foreign Direct Investment (2012): US$2.2 Bil
Economic Structure % of GDP (2011): Services (43.8%), Agriculture (32%)
(Source: Publicly available data, World Bank, KPMG, Australian Department of Foreign Affairs and Trade)
Mozambique is one of three key locations of historical tantalum production in Africa, the others being Rwanda and the Democratic Republic of Congo. Africa is the second most important source of tantalum after Western Australia. The Alto Ligonha Pegmatite Belt, where Pacific Wildcat's project is located, is recognised as one of the premier mineralised pegmatite fields in the world.
Mozambique's geographical position makes it an attractive location to set up mineral processing plants with good proximity to African, European and Asian markets and it has a strategically important coastline with the capital Maputo having a major port as well as the major towns of Beira & Nacala, with many other minor ports located along the 2,500km coastline.
The government of Mozambique welcomes investment in the country by foreign mining companies and seeks to encourage significant growth in the mining sector now and in the future. The country is well endowed with mineral resources and along with Tantalum other natural resources that can be found are coal, mineral sands, graphite, titanium, gold, iron, gemstones, natural gas and hydropower.