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Mining key in socio-economic growth
Minister of Mining Honourable Monica Chang’anamuno has said the Government of Malawi recognises mining as one of the key growth sectors that can significantly contribute to the socio-economic growth and development of the country.
Honourable Chang’anamuno was speaking in Tanzania on Wednesday at the official opening ceremony of the Tanzania Mining and Investment Forum (TMIF) which was officially opened by Deputy Prime Minister Dr Doto Betiko on behalf of Tanzania’s President Her Excellency Dr Samia Suluhu.
The Minister said as a sign of commitment to developing the mining sector, the Government of Malawi under the dynamic leadership of Dr Lazarus McCarthy Chakwera has singled out mining as one of the drivers of change, economic development, wealth and employment creation for the people of Malawi.
“In this view, for the first time, a standalone Ministry of Mining was established in 2020. This is further pronounced in the Malawi Vision 2063 where mining is prominent under Pillar 11 (Industrialisation),” Chang’anamuno said.
Currently, mining contributes 1% to the country’s Growth Domestic Product. However, the sector has huge potential to contribute to the development of the country.
“The sector’s annual growth trajectory is pegged at 10% to 15% when all the quick-win mining projects become operational,” she added.
However, the Minister called upon investors to come and invest in the mining sector saying most of the minerals are yet to be adequately explored and sustainably exploited for the economic development of Malawi.
The minerals include Rare Earth Elements, Niobium, Uranium, Coal, Bauxite, Lithium, Graphite, Limestone, Copper, Phosphate, Apatite, Rutile, Titanium, Gold, Gypsum, Nickel, Iron, Dimension stones such as sodalite, Granite, lithium among others.
The Minister thanked the United Republic of Tanzania for inviting the Malawi delegation to the conference saying the gesture demonstrates the deep commitment that the government of the Republic of Tanzania has in strengthening the closer collaboration in the mining sector.
She said there is a lot that Malawi and Tanzania can together share as they strive to develop the sector for the betterment of our nations in terms of wealth and job creation.
“As African countries, we need to strengthen our collaboration in the mining sector. As a region, we need to share knowledge and benefit our minerals in our own countries. We can also leverage the competitive advantage of one member state by utilising machinery or processing plants available in that country,” Chang’anamuno said.
Monica on tour all very encouraging but Malawi will never prosper if it doesn't follow through, ie, by issuing the necessary licences to those companies which have shown commitment and investment. No matter how tempting the proposition, sometimes one has to walk away.
No need to walk away maintaining the licences costs relatively peanuts plus we likely have a Rutile/Graphite resource that may well exceed Soverigns not to mention all the other prospects and REE reserves near Songwe...It's all being negotiated as the Minister herself says... they are new at this,all we know is along with Lotus, Mkango is at an advanced stage in getting their MDA over the line,, and Lotus expects to have theirs before year end.....
Also in all this time negotiations with partners and off-takers etc have been going on so its hardly like they wait around playing with paper clips waiting on a call from the Ministry... It is all about getting a win-win
I admire your patience Crumbs. The comparison with Sovereign is interesting considering they have a market cap of approx £140m at pre-feasibility stage, having already announced and brought on a strategic investor. Our rutile results, which longterm shareholders have funded are being withheld from us almost 3 years on ... for whatever reason ... it's not a priority said Alex.
We commence production of magnets from Tyseley this Q4, that means in the next 8-9 weeks but we have been provided zero guidance including on the economics ... when asked in the Jul-23 presentation, Will went to great lengths to explain the variables ... they must have a base case that they could share? What's happened to the sample magnets previously produced, have they achieved standard / met customer requirements?
The BOD do little to keep PI's updated and/or to protect the erosion of the share price ... the current market cap of
Don't get me wrong I'm as frustrated as the next holder here and agree with much you say...The BOD also promised to be more proactive with shareholder communication which I think we can all agree has not been lived up to...My main point is that it is not like there isn't lots of positive work going on and potential is massive but none of it indeed up to now translates into SP positivity:(
Dawes plugging away
https://www.linkedin.com/posts/william-dawes-50881352_birmingham-rare-earth-magnet-recycling-technology-activity-7123200446885687296-r_QM?utm_source=share&utm_medium=member_android
It is a good read and well confirms production is still on for this year so it has to be close!
https://www.birmingham.ac.uk/news/2023/birmingham-rare-earth-magnet-recycling-technology-selected-as-minerals-security-partnership-project
'The Minister urged investors who were present at the Forum to extend their mining investments to Malawi and that the Government of Malawi provides sufficient incentives for mining investment, realizing the capital intensive nature of the sector.'
https://www.nyasatimes.com/minister-changanamuno-urges-mining-investors-to-invest-in-malawi/
She ought to be back from Tanzania now so before jetting off to Dubai here is hoping full attention goes now to the pending MDAs.... please :)
She talks the talk but so far doesn't walk the walk.
Nice to be reading about Hypromag on the front page of my Sunday Times B&M section today! An article about Jose Fernández and the MSP.
Is there a link to the article?
Can you copy and paste the contents per chance?
Https://x.com/MkangoResources/status/1718887082481914197?s=20
Tick tock.
"BLACKROCK IS WARNING INVESTOR DISDAIN FOR MINING THREATENS THE GREEN TRANSITION AS STARVING THE SECTOR OF CAPITAL WILL CREATE SHORTAGES OF METALS"
https://www.ft.com/content/12b3a717-8d54-4542-8d5e-8124568f6974