Wentworth Resources to stop operation in Mozambique, No reason revealed

London-listed Wentworth Resources has announced that it will abandon its Tembo onshore exploration block in northern Mozambique on 30 April 2019. The company's senior executive said that it will exit Mozambique totally closing its office in capital city Maputo including curtaining all activities in the Muxara and Palma camps.

Although Wentworth Resources provided no reason for its sudden decision to leave Mozambique, it is believed the main cause for its exit may indeed be continuing violence in the region. Since October last year, an Islamist insurgency group carried out multiple attacks on the civilians and coerced Wentworth to give up exploration activities.

"We have now completed a thorough technical and commercial review of the company's asset portfolio and determined that our Tembo asset does not provide us with suitable monetisation solutions in keeping with our material growth mandate," Eskil Jersing, Wentworth's Chief Executive Officer opined.

Wentworth Resources, however, will continue its projects in East African country, Tanzania.