South32 exercises its pre-emptive rights in Mozambique’s leading aluminum smelter


Mining and metals company South32 has announced it is exercising its pre-emptive rights to acquire Mitsubishi’s 25% shareholding in Mozal Aluminium, Mozambique’s largest industrial employer. Mitsubishi currently holds the 25% via MCA Metals Holding GmbH with the rest of the shares owned by South32 (47.1%), the Industrial Development Corporation (IDC) of South Africa (24%) and the Government of Mozambique (3.9%).

Depending on whether the IDC also exercises its pre-emptive rights, South32’s shareholding could increase to either 72.1% or 63.7%, giving it’s a majority shareholding in the asset.

The $250m transaction represents a strategic move for South32 as it integrates with the alumina it produces from its Worlsey Alumina refinery in Australia.

Read more

TotalEnergies officially delays opening of Mozambique LNG to 2026

TotalEnergies has delayed the commissioning and first gas at its $20bn Mozambique LNG project from 2024 to 2026 following the declaration of Force Majeure earlier this year. The 12.88 million tonnes per annum (mtpa) onshore terminal reached FID in 2019 and was under-construction when the Islamist insurgency in Cabo Delgado in the north of Mozambique […]

Chariot to work on setting up a 10 GW green hydrogen development in Mauritania

Earlier today, Chariot signed a memorandum of understanding (MoU) with the Mauritanian Ministry of Petroleum, Mines & Energy to progress Project Nour, a potential green hydrogen development of up to 10 GW. Under the MoU, Project Nour has been given exclusivity over 14,400km2 of onshore and offshore area where pre-feasibility and feasibility studies will be […]

Leave a Comment