Ministry of Mining says all is set for the country to host the first ever Mining Investment Forum which will give the country an opportunity to showcase and promote Malawi’s mining sector.
In a press statement released by the Ministry of Mining and signed by the Principal Secretary for the Ministry, Dr. Joseph Mkandawire states the event will take place from 23rd to 24th of April, 2024 at Bingu International Convention Conference Center (BICC) in Lilongwe.
Mkandawire further said the event which is expected to be presided over by President Lazarus Chakwera will serve as a platform for multi-stakeholder engagement and bringing together government representatives, development partners, mining companies, 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 industrialization as described in the Malawi 2063 Vision.
“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 Artisanal and Small-scale Mining (ASM),” reads part of the press release.
Iin a separate interview, Chairperson for National Resources Justice Network Paul Mvula described the initiative as a welcome development saying as a country we need to invest more in mining sector in order to improve the economy of the country.
“We have repeatedly been saying we do not only focus on foreign investors, but we also need to involve the indigenous investors. So if this Mining Investment Forum will focus on that, then it is a welcome development,” he said.
Government under the leadership of Dr. Lazarus Chakwera 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 Mining Investment 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.
