Good afternoon. A major story is barely noticed by the Mozambican media today, namely the government’s reversal of a decision made under President Filipe Nyusi’s government last year to strip the coal mining firm Minas de Revúboè of its mining concession in Tete province. It is a move which suggests that the administration of President Daniel Chapo, which took over in January, would like to foster confidence among businesses by showing greater respect for the rule of law, and moving away from some of the corrupt practices of the Nyusi era.
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Tom Gould
Minas de Revúboè brought a case against the government in an international tribunal after it was told last year it had had its concession revoked. The mineral resources ministry announced it intended to give the concession to Stonecoal, a company set up just one day before Minas de Revúboè was told of the decision and featuring several directors who are employed by Indian conglomerate Jindal Steel & Power, the owner of Vulcan International which operates the Moatize coal mine. As website Bloomberg reported earlier this year, Stonecoal is registered at the same residential address as RockWorld, a group of companies chaired by then-president Filipe Nyusi’s son Jacinto. The dispute was holding up plans by JSW Steel, another former part of the late Indian tycoon OP Jindal’s empire, to take over Minas de Revúboè.
