Max Tonela, Mozambique’s Minister of the Economy and Finance, emphasized the nation’s significant graphite resources, asserting the capability to meet the escalating demand for electric cars within the European Union (EU) by fostering strategic business partnerships.
During the inaugural Mozambique – European Union Investment Forum titled “Creating Business Opportunities” in Maputo, Tonela highlighted the indispensable role of graphite in electric motors, lithium in batteries, and heavy sands in magnets for these evolving technologies.
He urged collaborative alliances between European and Mozambican entities to address these demands, thus catalyzing Mozambique’s industrialization.
Tonela accentuated Mozambique’s potential to sustainably supply critical raw materials sought by the EU market.
He encouraged European companies to leverage mutually beneficial synergies, creating value for Mozambique while accessing novel markets for European goods.
Moreover, Tonela underscored the possibility of joint positioning between Mozambique and the EU in spearheading the transition towards green energy.
He envisioned leveraging Mozambique’s natural resources and European technological expertise to drive this transformation.
Amid this vision, Tonela articulated the diversification of Mozambique’s energy matrix by harnessing the country’s diverse renewable resources.
He emphasized the importance of utilizing these resources to solidify Mozambique’s standing as a regional energy hub in Southern Africa.
Furthermore, Tonela expressed Mozambique’s eagerness to engage small and medium-sized European companies in local raw material processing.
He stressed the significance of diversifying the production base and enhancing living standards through the manufacturing industry’s active involvement in the country’s economic development.
Tonela highlighted the vast investment potential in processing locally exported goods, particularly in agriculture and minerals such as graphite, heavy sands, and lithium.
Mozambique anticipates a substantial increase in graphite production, aiming to yield over 329,040 tonnes next year, a critical raw material for electric vehicle batteries, signifying a remarkable 180% surge compared to this year’s projections.
Despite challenges in the international market, Mozambique’s strategy, as detailed in the Economic and Social Plan of the 2024 state budget proposal, anticipates a robust surge in graphite production, leveraging existing and anticipated capacities of mineral producers within the country.
This targeted increase in graphite production aligns with Mozambique’s ambitious goals to contribute significantly to the global demand for electric vehicle components.
