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ban","mozambique-enforces-15-state-stake-in-mining-and-introduces-export-ban","article/mozambique-enforces-15-state-stake-in-mining-and-introduces-export-ban",{"_uid":547,"date":548,"tags":549,"editor":558,"content":568,"excerpt":681,"featured":51,"reporter":682,"component":692,"seo_title":693,"categories":694,"visibility":700,"data_vis_image":701,"featured_image":704,"seo_description":708,"formattedDate":709,"formattedArticleDate":710},"24af9490-8068-4957-b6a6-21965eb94c2d","2026-06-08 00:00",[550,553,556],{"slug":551,"name":552},"mozambique","Mozambique",{"slug":554,"name":555},"africa","Africa",{"slug":557,"name":261},"anode",[559],{"slug":560,"name":561,"content":562},"benjamin-roche","Benjamin Roche",{"job_title":563,"image":564,"bio":566,"linkedin":567},"Editor – Energy Transition Supply Chains",{"filename":565},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":569,"content":570},"doc",[571,590,595,605,610,615,638,650,660,667],{"type":572,"attrs":573,"content":574},"paragraph",{"textAlign":49},[575,578,588],{"text":576,"type":577},"Mozambique has enacted sweeping mining reforms that will fundamentally alter the terms on which mining ventures are ","text",{"text":579,"type":577,"marks":580},"developed in the country",[581],{"type":582,"attrs":583},"link",{"href":584,"uuid":585,"anchor":49,"target":586,"linktype":587},"/article/three-african-countries-to-account-for-47-of-new-flake-graphite-production-in-2025","07437bb7-48ea-4c16-8144-d5a9189d3128","_blank","story",{"text":589,"type":577},", which Benchmark expects to supply 9% of natural graphite globally in 2026.",{"type":572,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":577},"President Daniel Chapo signed the new mining law on 3 June, following parliamentary approval in May. The legislation mandates a minimum 15% free-carried and non-dilutable state equity stake, held through the National Mining Company (ENM), across all mining projects, with that share able to increase further.",{"type":596,"attrs":597,"content":599},"heading",{"level":598,"textAlign":49},2,[600],{"text":601,"type":577,"marks":602},"No clarity yet on existing operations",[603],{"type":604},"bold",{"type":572,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":577},"The law also bans the export of unprocessed minerals, mandates in-country value addition, and requires 10% of mining revenues to be channelled to local communities.",{"type":572,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":577},"The extent to which the reforms will apply to existing operations remains an open question, with no further clarity since the law was signed.",{"type":572,"attrs":616,"content":617},{"textAlign":49},[618,620,627,629,636],{"text":619,"type":577},"Mozambique is forecast to be the world's second-largest natural graphite producer in 2026, with over two thirds of its supply coming from ",{"text":621,"type":577,"marks":622},"Syrah Resources' Balama operation",[623],{"type":582,"attrs":624},{"href":625,"uuid":626,"anchor":49,"target":586,"linktype":587},"/article/benchmark-gis-analysis-reveals-activity-patterns-at-syrah-resources-balama-graphite-mine-in-mozambique","a950c6f7-b595-4006-ab81-947f98449494",{"text":628,"type":577},". Retroactive application of the new law could risk notable litigation against a government with limited liquidity, but until clarified, ",{"text":630,"type":577,"marks":631},"uncertainty hangs over the sector",[632],{"type":582,"attrs":633},{"href":634,"uuid":635,"anchor":49,"target":586,"linktype":587},"/article/syrah-resources-declares-force-majeure-at-balama","ec3b712d-e57d-4951-abfa-557ec900143a",{"text":637,"type":577},".",{"type":572,"attrs":639,"content":640},{"textAlign":49},[641,648],{"text":642,"type":577,"marks":643},"What is more likely is the impact on future mining developments. ",[644],{"type":645,"attrs":646},"textStyle",{"color":647},"",{"text":649,"type":577},"Nearly 230ktpa additional capacity of graphite concentrate sits in the country's project pipeline, helping to grow the country’s supply almost fivefold over the next decade.",{"type":651,"attrs":652},"blok",{"id":653,"body":654},"b4e25bb3-116a-4b49-8bc2-db3ae887725f",[655],{"id":656,"_uid":657,"type":658,"component":659,"fixed_height":647,"use_fixed_height":50,"fixed_height_mobile":647,"fixed_height_tablet":647},"29293337","i-a9bfc350-661f-4156-b9b5-4c241a051b98","visualisation","ContentFlourish",{"type":596,"attrs":661,"content":662},{"level":598,"textAlign":49},[663],{"text":664,"type":577,"marks":665},"Law sustains a value-capture trend",[666],{"type":604},{"type":572,"attrs":668,"content":669},{"textAlign":49},[670,672,679],{"text":671,"type":577},"The approach has regional precedent. The DRC has long mandated state participation through Gécamines; Tanzania introduced mandatory state stakes in 2017; Zimbabwe banned ",{"text":673,"type":577,"marks":674},"raw lithium exports",[675],{"type":582,"attrs":676},{"href":677,"uuid":678,"anchor":49,"target":586,"linktype":587},"/article/zimbabwe-to-lift-lithium-concentrate-export-ban-with-stringent-conditions","3a50839c-53d8-42db-ba04-0293c9018f48",{"text":680,"type":577}," in 2022 to force in-country beneficiation. African governments are increasingly seeking to capture more value from their resources, and Mozambique's reforms represent the most comprehensive expression of that trend yet.","Mozambique has enacted sweeping mining reforms that will fundamentally alter the terms on which mining ventures are developed in the country.\n\nPresident Daniel Chapo signed the new mining law on 3 June, following parliamentary approval in May. The legislation mandates a minimum 15% free-carried and non-dilutable state equity stake, held through the National Mining Company (ENM), across all mining projects, with that share able to increase further.",[683],{"slug":684,"name":685,"content":686},"tony-alderson","Tony Alderson",{"job_title":687,"image":688,"bio":690,"linkedin":691,"markets_covered":261},"Research Manager - Anode",{"filename":689},"https://a.storyblok.com/f/287943243085208/800x800/f521ccb976/tony-alderson.jpeg","Tony is a Research Manager at Benchmark Mineral Intelligence, specialising in forward-looking models that encompass supply, demand, and pricing dynamics for anode materials. He has over 3 years experience in the battery supply chain, previously working as a Price & Data Analyst, for LiB raw materials. His background is in renewable and sustainable energy technologies, having completed an MSc at Northumbria University, Newcastle.","https://www.linkedin.com/in/tony-alderson-b370b7170/","article","Mozambique enforces state mining stake, introduces export ban",[695,697],{"slug":696,"name":189},"natural-graphite",{"slug":698,"name":699},"critical-minerals","Critical Minerals","private",{"id":49,"alt":49,"name":647,"focus":49,"title":49,"source":49,"filename":647,"copyright":49,"fieldtype":702,"meta_data":703},"asset",{},{"id":705,"alt":647,"name":647,"focus":647,"title":647,"source":647,"filename":706,"copyright":647,"fieldtype":702,"meta_data":707,"is_external_url":50},129065443206836,"https://a.storyblok.com/f/287943243085208/da778696ad/bm-beira-port-mozambique.jpg",{},"Mozambique has enacted sweeping mining reforms that will fundamentally alter the terms on which mining ventures are developed in the country.\nPresident Daniel Chapo signed the new mining law on 3 June, following parliamentary approval in May.","Jun 08, 2026","8th June 2026",[],[],1781107305451]