Noventa Limited, a Jersey based AIM listed company advised by Channel Islands law firm Carey Olsen, has re-opened a mine in Mozambique and is providing significant investment in securing the future of the country.
Noventa aims to be the world’s largest, low cost industrial scale supplier of tantalum concentrate, a rare speciality metal widely used in the consumer electronics industry. There is currently a shortage of tantalum supply and stock levels in the industry are being run down.
Noventa has a number of mining sites in Mozambique and its first operating facility at Marropino in Zambesi province re-started production in April 2010 after a period in care and maintenance. The Marropino mine is the company's most developed project and is located approximately 350km northeast of the provincial capital, Quelimane. To date Noventa has invested over US$65 million at Marropino to create the only industrial scale tantalum mine in operation in Mozambique, which provides the only source of employment in the area.
As part of its community programme, Noventa recently opened a primary school and medical clinic in Marrapino village. The clinic staffed by a nurse and trained medical professionals is the only medical clinic in this area of Mozambique. Its official opening ceremony this week was attended by the British High Commissioner in Mozambique and representatives from the local authorities, Noventa Limited and Carey Olsen.
Carey Olsen partner Guy Coltman provides ongoing legal advice to Noventa Limited.
“It was a great privilege to be present at the opening of a medical clinic in a region where this is much needed and will provide necessary medical assistance to the local population. We are pleased to see a Jersey based company providing significant investment in Mozambique with the re-opening of the Marropino mine and construction of a primary school and the opening of the medical clinic is a further sign of the company's investment in the region. We are confident that the company’s charitable endeavours will help contribute to securing the country’s future,” said Mr Coltman.