Arrested: Mozambique fears pirate activity off Africa's east coast could deter investors (photo: dpa)

Pirates threaten to hijack Mozambique’s economic boom

Natural gas discoveries and coal production in Mozambique have given a big boost to the country’s economy and business environment. But there are fears that the Mozambique Channel, which is vital for exporting hydrocarbons, could fall prey to attacks by Somali pirates who have terrorised shipping lanes in the Indian Ocean. An anti-piracy operation between Mozambique, Tanzania and South Africa, has had some success in combating the threat.

THE 2,400km Mozambique Channel between Madagascar and the East African coast is vital for the country`s growing economy, particularly in the mining and the energy sectors which use the sea lane as a main route for exports.

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 Teresa Nogueira Pinto
Pirate attacks would not only compromise offshore exploration and endanger export routes, but the cost of operating in the area would rise significantly because of the need to increase insurance premiums
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