The Ministry of Mining in Malawi says four companies are at an advanced stage of exploration for minerals and are expected to start mining next year.
This has been disclosed by Director and Commissioner of Mines and Minerals in the Ministry of Mining, Samuel Sakhuta.
Sakhuta said that the ministry has established a mining company which will be involved in joint ventures to facilitate mining processes faster and more effectively.
He also indicated that the Ministry has engaged four other companies that are at an advanced stage of exploration and they are expected to start their job next year.
He further highlighted that Malawi is at an advantage as the current mining legislation permit the country to benefit from its mineral resources.
He added that community will also be involved in deciding the areas of development in their community.
“There is also community development agreements so that part of the proceeds from the mining company go towards community development,” he added.
Malawi has rich minerals resources as gold is found across the country, rutile in Central and Southern regions, uranium in Northern region, in districts of Karonga and Chitipa, and bauxite in Mulanje.
During the Mid-year budget statement, Minister of Finance and Economic Affairs, Simplex Chithyola-Banda, said the mining sector is one of the three sectors earmarked for the country’s economic growth and recovery.
Chithyola-Banda indicated that the Mining sector is set to generate revenue of about US$1.5 billion in the next three years.
