Malawi targets mining investors
Malawi is hoping to clinch new mining deals during its first-ever mining investment forum scheduled for April 23 to 24 in Lilongwe.
Speaking at a press briefing in Lilongwe on Friday, Minister of Mining Monica Chang’anamuno said Malawi seeks to attract more investors as government aims to realise the full potential of the mining sector.
She said: “Through constructive discussions, informative showcases and networking opportunities, participants will explore strategies and solutions to unlock the enormous greenfield mineral potential that Malawi is endowed with.”
Commenting on the slow pace in developing the sector, the minister said things will start to move fast following some budgetary allocations for a number of strategic programmes.
She said: “Malawi hosts a diverse array of mineral resources such as rare earth elements, graphite, uranium, gold, and gemstones, among others. These mineral resources are instrumental to industrialisation as described in the Malawi 2063 Vision.
“They are a significant source of government revenues through taxes, royalties, and fees, which are essential for funding development initiatives across various sectors. Furthermore, the mining sector provides employment opportunities, fosters skills development, and sustains livelihoods through artisanal and small-scale mining.”
The country has a wide range of mineral resources which remain underground as several ventures are at different stages from exploration to feasibility studies and negotiations for Mining Development Agreements.
The forum, to be opened by President Lazarus Chakwera, is expected to attract over 300 participants from mining and other relevant sectors from around the world.
The event will be part of the week that seeks to promote the country’s priority sectors of agriculture, tourism and mining dubbed the ATM economic strategy.
The sector only contributes about one percent to the country’s economy and the Ministry of Mining says it is targeting to increase this contribution to 20 percent by 2030.
