Maputo, 28 May (AIM) – The Mozambican government has announced that State revenue from Large-Scale Projects, in 2025, fell to 11.7 billion meticais (183.4 million US dollars at the current exchange rate), which corresponds to 40.50 percent.
Large-Scale Projects includes the sectors of mining, hydrocarbons and metallurgy. The contribution of these sectors “depends on the links they establish with the economy, including productive linkages through the development of supplier and consumer networks or technological transfer. It also includes job creation and fiscal contributions, savings and foreign reserves.”
According to the General State Account (CGE), recently approved by the government, the decline was driven by heavy losses recorded by Mozal aluminium smelter, by the Indian company Vulcan, which owns an enormous open cast coal mine in Moatize district, and Rovuboè mining. These companies together recorded losses of 49.6 billion meticais.
“Last year, these companies paid 4,902.76 million meticais in Corporate Income Tax (IRPC) to the State; 2,639.65 million meticais in Personal Income Tax (IRPS), while the remaining 4,137.84 million meticais came from VAT, royalties and other taxes”, reads the government.
These figures, the document says, offset the profits reported by the South African petrochemical giant Sasol, the Irish company Kenmare Resources, which is mining heavy mineral sands in the coastal districts of Larde and Moma; the London-based company Ncondezi Energy; and the Indian coal mining company Midwest Africa, totalling 37.3 billion meticais.
The document also points out that, over the last year, the Large-Scale Projects and Business Concessions recorded an overall loss of 12,199 million meticais, an improvement of 65.61 percent compared with the 2024 results, when total losses reached 35,468 million meticais.
In the 2024 financial year, the State revenue from Large-Scale Projects reached 19.7 billion meticais.
Zt/Am/
