CHAIRMAN AND CEO, NATIONAL HYDROCARBONS COMPANY (ENH), MOZAMBIQUE
"We have set an example for other African countries on how to strike a balance between nationalistic development objectives and the attraction of foreign investment. For a company to go deep offshore and spend billions of dollars, you need to create a friendly environment."
The Northern Development Corridor (CDN) was a Mozambique government infrastructure that became a private concession, with its largest stakeholders being Vale and Mitsui.
MACIG 2025 - Mining in Africa Country Investment Guide
It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.