A Canadian mining company in which a South African businessman and a former Mozambique president serve as chairman and vice chairman has just set up a subsidiary in Maputo.
The firm Teal Mining Moçambique Lda was set up in Maputo on July 25 in the form of a joint venture between Teal Barazuto Incorporated, a Barbados-registered firm with a 95% stake, and Gert Claus Jurgen Schlegel (5%).
The new concern is a subsidiary of Canada's Teal Exploration & Mining Inc (TEAL), the holding company of a group of mining concerns which had belonged to the South African firm African Rainbow Minerals Ltd (ARM) and which has interests in Democratic Republic of Congo, Zambia and Namibia.
The chief executive of the holding company is Rick Menell while its board is chaired by South African businessman Patrice Motsepe, who is also executive president of ARM. Its vice chairman is former Mozambique president Joaquim Chissano, also a director of ARM.
For his part, Schlegel is Teal Exploration's vice president in charge of exploration and development. With a geology degree from the University of Cape Town, he previously held high level jobs at Anglovaal Mining Ltd (2000-2004) and ARM.
Fonte:Indian Ocean Newsletter
The firm Teal Mining Moçambique Lda was set up in Maputo on July 25 in the form of a joint venture between Teal Barazuto Incorporated, a Barbados-registered firm with a 95% stake, and Gert Claus Jurgen Schlegel (5%).
The new concern is a subsidiary of Canada's Teal Exploration & Mining Inc (TEAL), the holding company of a group of mining concerns which had belonged to the South African firm African Rainbow Minerals Ltd (ARM) and which has interests in Democratic Republic of Congo, Zambia and Namibia.
The chief executive of the holding company is Rick Menell while its board is chaired by South African businessman Patrice Motsepe, who is also executive president of ARM. Its vice chairman is former Mozambique president Joaquim Chissano, also a director of ARM.
For his part, Schlegel is Teal Exploration's vice president in charge of exploration and development. With a geology degree from the University of Cape Town, he previously held high level jobs at Anglovaal Mining Ltd (2000-2004) and ARM.
Fonte:Indian Ocean Newsletter
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