ExxonMobil Mozambique awarded approximately $1.1 billion in pre-investment contracts for long-term critical equipment. The contracts support Phase 1 of the Rovuma LNG project in Cabo Delgado province, according to the company.
Why it mattersThe investment accelerates the development of the gas field, moving the project closer to operational production.
Profit for Banco Comercial e de Investimentos fell to 3.3 billion meticais from 3.7 billion meticais in the same period of 2025. The bank cited a spike in reserves due to high credit risk from non-performing loans, according to O Pais.
Why it mattersIncreased reserves for bad loans reduce the bank's available capital for lending and shareholder returns.
The state collected $43.83 million from the production and export of liquefied natural gas from the Rovuma basin between January and June 2026. Total collections rose to $296.65 million, according to the Economic and Social Plan and State Budget balance.
Why it mattersThese revenues provide the government with foreign currency to fund public spending and infrastructure.
More than 9,000 citizens were placed in the mining and farming sectors in South Africa since the start of the year. National Directorate of Migratory Labor Director Alice Brito said recruitment is also underway in Portugal and the UAE.
Why it mattersThe placement of workers increases remittance flows back into the Mozambican economy.
The police commander of Chinde district, a Portuguese citizen, and a Chinese citizen were detained Monday. The three are suspected of the illegal exploitation of tantalite, according to the Customs Court of Sofala and the Mozambican Police.
Why it mattersThe arrests target the illicit extraction of minerals that bypasses state taxation and regulation.