In a move to lay the foundation for a contemporary and enduring national mining industry, Malawi’s Minister of Mining, Hon. Monica Chang’anamuno, will address attendees at the Critical Minerals Africa (CMA) 2023 summit, Africa’s leading forum on critical minerals.
While primarily known as a producer of uranium, gemstones, coal, and construction minerals on a small scale, Malawi is setting its sights on large-scale exploration and refining of a broader array of mineral assets. These include phosphates, bauxite, limestones, rare earth elements, and graphite.
Taking a proactive stance, the Malawian government has initiated measures to bolster investor trust in its burgeoning mining sector, aiming to draw significant foreign capital. Just last April, they tabled a Mines and Minerals Bill, designed to instill transparency and accountability within the industry. If greenlit, this would lead to the creation of an autonomous regulatory body tasked with awarding mining licenses, supervising mining operations, and providing counsel to the Mining Minister on pertinent policies.
Although Malawi is relatively new to large-scale mining undertakings, it’s focused on ensuring that local communities benefit substantially right from the start. For instance, the government mandates mining investors to reinvest a minimum of 0.45% of their overall profits back into the communities where they operate. By doing so, Malawi envisions mining ventures will not only create jobs but also foster local skill development, propelling industrial growth.
At CMA 2023, discussions will encompass the untapped mineral reserves, the evolution of regulatory mechanisms, and strategies for effective community involvement, spanning both Malawi and the broader southern African territory. The inclusion of multiple top-tier African mining ministers underscores a collective pledge to uphold resource sovereignty and solidify the critical minerals industry as a key economic cornerstone in the future.
Set for October 17-19, the Critical Minerals Africa 2023 summit aims to spotlight Africa as the foremost investment hub for critical minerals. This summit will coincide with the African Energy Week 2023 conference from October 16-20, giving attendees a comprehensive view of the energy, mining, and finance sectors in Cape Town.
