President Lazarus Chakwera yesterday ordered officials in the mining sector to embrace transparency and accountability in transactions and ensure that Malawians are not given raw mining deals.
The President said this at the opening of the Mining Investment Forum in Lilongwe.
Chakwera faulted the information gap on key mining projects, notably the Kasiya Rutile discovery in Lilongwe.
He directed the Ministry of Mining to start regularly updating Malawians on agreements and project statuses.
Said Chakwera: “It is disturbing that Malawians have yet to hear anything from mining officials about activities in Kasiya.
“Our minerals are a matter of national security and there is no better security than putting things in the light.”
Mining is part of the Chakwera administration’s ATMM Strategy comprising Agriculture, Tourism, Mining and Manufacturing around which government expects to build the nation’s economy.
However, concerns over illicit activities, weak regulatory enforcement and opaque deals persist, undermining both investor confidence and public trust.
Malawi Chamber of Mines and Energy president Maxwell Kazako said that the country could leverage mining to catalyse economic transformation and promote inclusive growth.
“If we secure good and productive mining development agreements, extract in a way that protects our environment and create jobs, then mining can be a useful tool to empower everyone,” he said.
On strengthening regulation, Kazako said: “We are trying to ensure that all the miners are registered by the chamber. In this way, we will ensure all key stakeholders are compliant with existing laws and regulations.”
In the January 2025 edition of the Malawi Economic Monitor, the World Bank warned that without governance reforms, Malawi’s envisaged mining boom may not translate into tangible economic gains.
Responding to transparency concerns, Minister of Mining Kenneth Zikhale Ng’oma defended the government’s record, citing notable progress since the inaugural forum.
He mentioned the establishment of the Mining and Minerals Regulatory Authority and the Malawi Mining Investment Company as efforts to boost investor confidence and ensure greater State participation in mining ventures.
Ng’oma said projects that were dormant for years, including Kayelekera Uranium Mine in Karonga and Kanyika Niobium Mine in Mzimba, were being revived while new deposits at Kasiya had raised expectations for a stronger mining sector.
Currently, mining contributes just 0.7 percent to the country’s gross domestic product (GDP) and 3.5 percent to national revenues.
But with extraction and processing expected to start this year and early next year, authorities now project that the sector could account for over 10 percent of GDP and generate up to $40 billion in cumulative export earnings between 2025 and 2040.
However, infrastructure deficits in energy, logistics, and processing capacity remain significant barriers to growth.
Ng’oma acknowledged these challenges, pledging greater investment in roads, railways, and digital technologies to support exploration and mining operations.
Government is also formalising artisanal mining cooperatives, enforcing community development agreements, and expanding gold-buying centres to stem smuggling, which Ng’oma described as “a criminal endeavour” requiring serious action.
World Bank country manager Firas Raad, speaking earlier, observed that mining could enhance domestic revenue collection, but cautioned that its potential for large-scale employment was limited.
“In terms of job creation, we have to remember that mining is not labour intensive,” he said.
The forum, powered by Nico Group as platinum sponsor, drew investors from across Africa and beyond, with officials reiterating that credible, long-term partnerships were preferred over speculative ventures.
