“Mozambique is not on the divestment list at the moment,” Walsh said, despite instituting sweeping cost-cutting measures across its energy division.
He said he was awaiting feedback from Rio Tinto's energy boss Harry Kenyon-Slaney before deciding on the fate of the business.
“I am hopeful that there will be an upside,” Walsh said. “It is a world-class deposit. It has issues, but the fundamentals behind it are solid – it’s the reason we invested there.”