Wednesday, 30th May 2007 (2386 views)

Portuguese-Angolan mining joint venture Agrupamento Mineiro is set to commence mining for gold in Manica, Mozambique, it has been revealed.

Work began four years ago at the site with prospecting and the installation of equipment, news provider Macauhub cited newspaper Noticias as saying.

According to the sources, around $15 million (£7.5 million) has been invested in work carried out at the mine so far by Agrupamento Mineiro.

Director of Agrupamento Mineiro, Carlos Bras, has predicted the mining operation to produce a monthly 60 kg of gold, once running, which will be worth roughly $9.5 million, Macauhub reports.

Agrupamento Mineiro is a consortium of Portuguese company Companhia Mineira do Gile and Angola's Metais de Mozambique, Macauhub reveals.

The news provider notes, production of the gold will take place in a South African refinery before moving on to a European base.

 

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