Maputo, May 27, 2026 (Lusa) – Mozambique's state revenues from large-scale projects in the mining, hydrocarbon, and metallurgical sectors fell by nearly 41% in 2025 to 11.680 billion meticais (€157 million), based on official data.
The General State Account (CGE) approved by the government and reviewed on Wednesday by Lusa before heading to parliament shows that this performance, which excludes dividends from concessions, compares with 19.652 billion meticais (€264.5 million) delivered by these companies in 2024.
These firms delivered 4.902 billion meticais (€66 million) to the State in Corporate Income Tax (IRPC) last year. They also provided 2.639 billion meticais (€35.5 million) in Personal Income Tax (IRPS), while the remaining 4.137 billion meticais (€55.7 million) came from VAT (Value Added Tax), royalties, and other taxes, the government says in the document.
Large-scale projects and business concessions operate in the mining, hydrocarbon, and metallurgical sectors. Their contribution "depends on the links they establish with the economy," including "productive links" to develop the supplier and consumer network, or technological links through technology transfer, the government notes in the 2025 CGE. Contributions also occur through job creation, fiscal revenue, savings, and external reserves.
Government officials note in the General State Account that "it was found that in 2025, the Large-scale projects and business concessions recorded a global loss of 12.199 billion meticais [€164.2 million]." This represents a 65.61% improvement compared to the 2024 results, which had reached a total loss of 35.468 billion meticais (€477.4 million).
Losses from the Mozal (aluminium), Vulcan (coal), and Minas do Rovuboè projects heavily influenced these results, combining for a total loss of 49.587 billion meticais (€667.4 million).
"This effectively cancelled out the profit presented by Sasol, Kenmare Moma Heavy Sands, Midwest Africa, and Ncondezi, which totalled 37.388 billion meticais [€503.2 million]," the CGE concludes.
PVJ/RYOL // AYLS
Lusa
