Mozambique's extractive revenues rise 60% in 2010

Mozambique launched its third EITI Report on 26 December revealing that the government received a total of just under US$65 million from their extractives sector in 2010 of which 70 per cent was from hydrocarbons. This up from the US$40 million the government received from their extractives sector in 2009. There was an 80 per cent increase in revenue from hydrocarbons.

Anadarko, accounted for over 40 per cent of all payments from the extractive industry in 2010 (US$26m). The Texas-based company discovered huge reserves of natural gas in the Rovuma Bain, off the northern Mozambican coast. The largest payments declared by a mining company came from Vale-Mozambique (US$9m), even though Vale had not begun exporting coal from its mine in Tete province in 2010. Corporation tax accounted for 56 per cent of all payments, and personal income tax for 21 per cent.

The 2010 report discloses individual payments from 44 operating companies. This is up from 31 in 2009 because more of the 139 companies with mining or hydrocarbon licenses paid above the $16,500 materiality threshold for inclusion in the report.

There was less than 1 per cent discrepancy between what the government said that they received and companies said that they had paid.