Malawi is on the verge of becoming Africa’s largest source of rare earths which experts say could propel the country’s mining sector contribution to the gross domestic product (GDP) to around 30 percent in the years to come. This feat means mining could become Malawi’s lifeline overtaking tobacco—currently accounting for 13 percent of the national…
Standard Bank Malawi Limited has said it will host an International Mining Conference between September and October this year after the completion of the geo-mapping exercise currently under way. The bank has said that although mining and power projects are capital intensive, it has the capacity to finance them and consequently unlock the country’s economic…
The challenge of capital financing and financial literacy which has impeded the growth of Artisanal and Small-scale Miners (ASMs) in the country will soon be history thanks to the Memorandum of Understanding (MoU) government has signed with FDH Bank Limited. The MoU will see FDH Bank, among others, providing ASMs with capital financing, access to…
Malawi Government, through the Ministry of Mining says it collected K1.7 billion (about $4.2m) from royalties and other fees in the mining sector in 2013, a figure which is four times higher than what was collected in the preceding year. “Our revenue collection from royalties and other fees increased four times during the year peaking…