The Governor of the Bank of Mozambique (BdM), Felisberto Navalha, has said that mining company Vulcan accounts for nearly 20% of the country's total exports, underscoring its role as one of the principal suppliers of foreign currency to the Mozambican market.

The remarks were made this week during an institutional visit by Navalha and his delegation to the Moatize coal mine in Tete Province, aimed at strengthening ties between the central bank and the company.

During the visit, Navalha highlighted the significance of Vulcan's operations for the national economy, particularly its contribution to foreign exchange inflows at a time of growing concern over hard-currency availability in the domestic market.

"Vulcan has been one of the largest suppliers of foreign exchange in our market. It represents almost 20% of our total exports, which is no small thing," the governor said.

Navalha added that the miner's contribution is especially important given the challenges surrounding foreign currency availability in the national market, reflecting the weight the company carries in the country's overall export performance.

The governor expressed hope that Vulcan would continue to contribute to the Mozambican economy, maintaining its role in generating foreign exchange revenues and supporting national export performance.

The visit to the Moatize coal mine forms part of broader efforts to deepen institutional engagement between the BdM and Vulcan, a company with a significant presence in the country's mining sector.

The miner's contribution to exports and foreign exchange generation was among the key aspects highlighted by the central bank in the context of its engagement with the productive and business community.