The northernmost Mozambican province of Cabo Delgado is believed to hold huge deposit of graphite, the Mozambican Television reported on Sunday.

The station quoted the Australian company Syrah Resources as saying that the Balama East mine, a project that it is involved, contains around 579 million tons of ore at 10.6 percent graphite and 0.26 percent vanadium.

The company also says that within the area, a high grade Mepiche zone was estimated to hold inferred resources of 145 million tonnes at 15 percent graphite.

The Balama project is the largest known graphite deposit in the world, while the vanadium discovered is around six times the size of the world's largest operating vanadium deposit, the company said.

The northern province is also rich in gas and marble. The Texas based Anadarko and the Italian ENI are involved in the gas exploration in the Ruvuma basin in Cabo Delgado.