Ministry touts mining sector, key to MW2063

Ministry of Mining Principal Secretary Joseph Mkandawire says the mining industry has the potential to help the country achieve Malawi 2063 (MW2063) and United Nations’ Sustainable Development Goals.

He said this in Lilongwe on Friday during the dissemination of results of Geological Mapping and Mineral Assessment Project.

Mkandawire said the assessment project is among priority activities the Ministry of Mining has undertaken to reform the sector into one of the biggest contributors of gross domestic product (GDP) growth.

“Malawi’s economy has been agro-based since independence. However, various factors, including the anti-smoking global campaign, unpredictable and hostile climatic conditions, among others, have heavily affected the agricultural sector,” he said.

Mkandawire said government is moving towards diversifying the economy by improving efficiency in the mining sector.

He said this in line with the country’s long-term development strategy and the First 10-Year Implementation Plan, which identifies the mineral sector as one of the key priority areas.

Mkandawire urged investors in the mining sector to fully utilise the findings, saying they can help in identifying key priority areas for mineral exploration.

Bertrand Furno, a representative of the French Embassy, who partnered the Malawi Government in the exercise, said Malawi has huge potential in the mining industry, which he said can help in job creation, enlarging export base as well as boosting government revenue.

Parliamentary Committee on Natural Resources and Climate Change chairperson Welani Chilenga while describing exercise as progressive, said government needed to make public findings of the geo-mapping exercise.

He said the country should prioritise establishment of a mining company as well as training local staff to champion mineral testing.

According to the 2022 Malawi Government Annual Economic Report, the mining sector currently contributes about one percent to the GDP, but plans are underway to scale-up the contribution to between 10 and 15 percent by 2030. The report said mining is a strategic sector that has potential to support industrialisation and remains one area of realistic economic diversification through which Malawi can increase its exports, attract foreign direct investments as well as diversifying government’s revenue base.