Botswana President Mokgweetsi Masisi has said his government is ready to support Malawi so that the country should start benefiting from the sector.
Masisi said this on Monday during a joint press briefing with President Peter Mutharika at Sanjika Palace in Blantyre.
He said his government owns 80 percent of mining in Botswana because it has legislation which governs the sector.
Masisi added that Botswana also benefited from foreign experts when it started mining and over the years the country has developed competencies.
“We don’t claim to be superior we just claim to have derived the most in our experience. We started from zero but our first negotiation position has proved to be the right one.”
“Part of the mineral legislation in Botswana demands that anything found belongs to the State and if anybody wants to go after it as an investor they will be given permission but they are licensed after due diligence.
“Even after licensing, because the mineral wealth in its raw form belongs to the State, they will pay a royalty for what they get so there is a valuation system to determine what it costs,” he said.
Speaking at the press briefing, Mutharika said Malawians did not benefit from the operations at Kayelekera uranium mine in Karonga because it failed to negotiate well.
“We looked at the contract and it didn’t benefit Malawians. We want mining sector to benefit people in the country,” he said.
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