Maputo, 27 May (AIM) – The Mozambican government forecasts production of more than 4.1 million carats of rubies in 2025, an increase of five per cent compared to 2024.
The government document, which is part of the economic forecasts for next year, warns about the risks of excessive dependence on the extraction of natural resources, although the figures are dynamic in the mining sector.
“Rubies, with 76 per cent of projected production destined for export, has consolidated its position as the main resource among the precious and semi-precious stones mined in the country. This prominence highlights the sector’s strategic role in attracting foreign currency and balancing the trade balance. However, the concentration of revenues in a single segment raises concerns about economic sustainability and vulnerability to fluctuations in the international market”, reads the document, cited by the Portuguese news agency Lusa.
Much of the growth forecast for 2025 stems from the expansion of the operations of SLR Mining, now the largest producer of rubies in the country.
“In 2024, ruby production rose significantly to 3.9 million carats, 46 per cent higher than in 2023 and 128 per cent of the target set for the year. Despite the remarkable performance, the pace of growth is accelerating the logic of extraction geared mainly towards exports, without clear evidence of greater local added value or the strengthening of national production chains”, the note says.
The current trajectory reinforces the need for a more balanced mining policy, which combines the exploitation of mineral resources with strategies for industrialization, economic diversification and social inclusion. Otherwise, Mozambique risks repeating cycles of unsustainable economic growth, marked by productive enclaves, inequality and fragile resilience to external shocks.
(AIM)
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