Central African Mining & Exploration (CFM.L)

"In Mozambique we continue to build a presence and have been focussing on a
number of projects away from the purely mineral resource sector. These include
agriculture and property development, which we believe will play a significant
role in the development of emerging African nations. Through our 50% stake in
D.E.C.A. we have an interest in an agricultural trading and processing
operation. This involves the purchase from growers and the collection, drying
and milling of maize, groundnuts and beans. We have helped improve local
transport infrastructure, constructed collection depots and bought a fleet of
trucks to implement the operation. Once collected, the produce is being branded
and distributed from our operational hub at Chimoio, where we are constructing
substantial warehouse, drying and milling facilities. We have invested a
significant amount which is beginning to show dividends. For instance we have
now been approached by the World Food Programme to supply a whole range of
agricultural produce including maize, beans and ground nuts in 2006. We expect
D.E.C.A. to contribute to revenues and Group profitability in the near term
future. Furthermore, we are looking at property development opportunities both
in the major cities and on the coast, as we feel capital values will increase as
the country develops."

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