Data from the recent World Bank geological survey has revealed plenty of potential mineral deposits which government hopes will boost the country’s economy.
Director of geological survey department Jalf Salima said the data shows there are deposits below the surface that “demands follow-up work”.
Salima said Government will interpret all the survey based data while the private sector’s responsibility is to interpret data in their areas of interest to help them focus on their exploration efforts.
He further said the formations they have discovered are also found in neighbouring countries and gave an example of Kasungu Dyke which has similar qualities with that of the great Dyke in Zimbabwe which has a number of important metals.
The results, which comes at the end of a year-long survey co-financed by the World Bank and European Union through the Bank’s mining governance and growth support project, has seen high-resolution data being produced that provides insight into the country’s mineral potential which is to be explored for potential sites.
World Bank country manager for Malawi Laura Kullenberg has since urged government to understand the concepts of mining and development of resource wealth because if they do not get it right there could be conflict.
“The completion of this survey is a key achievement for Malawi especially if the detailed interpretation brings about positive results critical for the mining sector to help boost the economic growth that this country needs,” said Kullenberg
Minister of natural resources, energy and mining Bright Msaka commended the work of World Bank and EU in boosting the country’s mining sector and added that Malawians are the principal beneficiaries of Malawi’s mining wealth.
“If this data is properly utilised it will help the country realise a modern mining sector therefore Malawians will no longer be poor,” said the minister.
Meanwhile Malawi government has applied for the Extractive Industries Transparency Initiative candidature to ensure transparency and accountability in managing mineral revenue.