Thursday, July 18, 2024
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Malawi Pres. Chakwera to preside over Mining Investment Forum

The Ministry of Mining has announced that preparations are complete for Malawi to host its inaugural Mining Investment Forum. This forum presents an opportunity for Malawi to showcase and bolster its mining sector. According to a press release from the Ministry signed by its Principal Secretary, Dr. Joseph Mkandawire, the event is scheduled for April 23rd to 24th, 2024, at the Bingu International Convention Conference Centre (BICC) in Lilongwe.

Dr. Mkandawire emphasized that the forum, expected to be graced by President Dr. Lazarus Chakwera, aims to facilitate dialogue among diverse stakeholders. These include government officials, development partners, mining enterprises, as well as Artisanal and Small-scale Mining (ASM) operators, financial institutions, Civil Society Organizations (CSOs), academia, and various service providers.

“Malawi hosts a diverse array of mineral resources such as Rare Earth Elements (REEs), graphite, uranium, gold and gemstones, amongst others. These mineral resources are instrumental to industrialisation as described in the Malawi 2063.

“Our minerals are a significant source of government revenues through taxes, royalties and fees which are essential for funding development initiatives across various sectors.

Furthermore, the mining sector provides employment opportunities, fosters skills development and sustains livelihoods through ASM,” reads part of the statement.

In an interview, Chairperson for National Resources Justice Network, Paul Mvula, welcomed the initiative as a good development saying, as a country, there is need to invest more in mining sector in order to improve the country’s economy.

“We have repeatedly been saying we do not only focus on foreign investors, but we need to also involve the indigenous investors. So, if this forum will focus on that, then it is a welcome development,” he said.

Government aims at growing the mining sector to contribute at least 20 percent to the Gross Domestic Product (GDP), a goal that the ministry says will require robust legal, policy and institutional frameworks; public-private partnerships in mineral exploration and mining among others.

The Forum which will be held under the theme “Transforming the Nation through Sustainable Mineral Extraction” is expected to attract over 300 participants from African countries and beyond.

 

 

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