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Mozambique approves mining contract for Tete iron and steel project

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Mozambique’s council of ministers also discussed China’s Belt and Road initiative, which could yet be decisive for the development of steel production in Mozambique

Mozambique’s council of ministers yesterday approved the mining contract for Baobab Resources’ $1 billion iron and steel project in the western province of Tete, allowing it to operate the project for a 25-year renewable term.

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