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    20 February, 2016
Obtala Resources raises US$3 million for forestry
 
London, 20 Feb (AIM) - Obtala Resources, a company based in the British Channel Islands, has announced that it has raised three million US dollars for forestry projects in Mozambique.
 
According to the company, three international timber investors have funded the project in return for equity in the company and off-take rights.
 
Part of the funds will go on the construction of two kilns to dry timber. The company will also develop a new sales and distribution centre in Maputo.
 
Obtala also announced that it will launch a social and community development fund “focusing on providing labour, health and education programmes in Mozambique”.
 
The three investors are Hong Kong based Global Timber Investment Limited (with a $900,000 stake); George Miller, a private investor from the United States ($1.16 million); and Basic Materials Limited, a company with offices in Hong Kong and Russia ($900,000). Basic Materials Limited is to export timber to Asia and the Middle East.
 
According to the deputy chair of Obtala, Kevin Milne, “this investment allows us to materially progress our forestry business in Mozambique”. He added “the creation of the distribution centre in Maputo will provide direct access to local consumers on both a wholesale and retail basis”.
 
Obtala’s concessions in Mozambique are mainly in the central province of Zambezia. They are operated under a “forestry concession contract” which strictly requires that only a restricted number of trees can be cut down and that the timber must be processed within Mozambique.
(AIM)
 
 
  2 December, 2019  
 
AIDS related deaths fell 20 percent over five years
 
President Filipe Nyusi declared on 1 December in the northern city of Nampula that the number of deaths from HIV/AIDS in Mozambique fell by 20 per cent between 2014 and 2018.

 
  18 November, 2019  
 
President addresses Catholic Bishops
 
President Filipe Nyusi on 16 November challenged the Catholic Church to continue its commitment to achieving the social well-being of Mozambicans and indicated that dialogue should be one of the paths chosen.

 
  17 November, 2019  
 
New water system for Gorongosa inaugurated
 
More than 30,000 people will benefit from clean drinking water in Gorongosa town, in the central Mozambican province of Sofala, thanks to a new water supply system that President Filipe Nyusi inaugurated on 15 November.

 


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