Mozambique imposes international prices as reference for mineral resources

The Mozambican government has decided to use, as of today, international prices as a reference for mineral resources exported by the country, aiming to combat under-invoicing, the Ministry of Economy and Finance said.

“The government decided to establish a mechanism for setting reference prices in the export of mineral resources, a measure that aims to combat under-invoicing, reduce tax evasion and increase the benefits of the exploitation of mineral products for the country,” it said in a statement.

The mineral resources sector can and should contribute more to boosting Mozambique’s socio-economic development, given that there is plenty of fiscal space to be explored, it said.

The Ministry of Economy and Finance notes that the measure is framed within fiscal consolidation efforts, in line with the PAE – Economic Acceleration Package of Measures launched in August 2022 by the President of the Republic, Filipe Nyusi.

The decision results from a decree signed by the ministers of Economy and Finance, Max Tonela, and Mineral Resources and Energy, Carlos Zacarias.

The note also said that the winner of an international public tender for hiring an independent entity to monitor the quantities and specifications of ores exported by companies exploiting mineral resources in Mozambique would be announced soon.

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