MINING group Billiton yesterday announced the biggest-ever investment in Mozambique with a joint venture aluminium project worth #812m.
Billiton is leading a group of investors funding an aluminium smelting plant, producing 250,000 tonnes of metal a year. The deal, dubbed the Mozal Project, was struck in co-operation with the government of Mozambique.
Once completed, the smelter would be a low-cost, high-quality aluminium producer with the potential to double capacity.
Billiton will be the largest investor in the project, along with Mitsubishi and the
Industrial Development
Corporation of South Africa.
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