Page 48 - pd309-Oct22-mag-web-Neat

ADU ReVIeW

Malawi: The warm heart of Africa

ining has been identified as one the is the only commercial mining operation GDP grew to 10% from the mining sector.
Mkey priority sectors for Malawi to di- in Malawi’s history. Opened in 2010 by Of course, it’s now under care-and-main-
versify its economy away from a heavy Paladin Energy Ltd and later placeds on tenance because of the [uranium] pricing
reliance on agriculture. care-and-maintenance, it is now owned by issue at the time, but we still expect that
As part of the Government-led Malawi Lotus Resources Ltd. when they will go back into full mining, we
Vision 2063 strategy, three pillars – agri- Lotus is one of four ASX-listed compa- should have at least a 10-20% of our GDP
culture productivity, industrialisation and nies with projects in Malawi, alongside ex- coming from the mining sector.”
urbanisation – were unveiled as the critical plorers Sovereign Metals Ltd (rutile/graph- To facilitate a future mining industry, Ma-
themes for the country’s future economic ite), Globe Metals & Mining Ltd (niobium) lawian universities have introduced cours-
growth over the next four decades. and Lindian Resources Ltd (rare earths). es such as mining engineering.
Mining is front and centre in the industri- Sovereign’s Kasiya deposit is now the Malawi also possesses a computer-
alisation pillar. largest primary rutile resource in the world. based mining cadastre system and mining
To date, the Kayelekera uranium mine Malawi also has known resources of and exploration permits are issued on a
bauxite, phosphate, coal and limestone “first come, first served” basis.
and reported occurrences of platinum, “There is transparency in the way we
nickel, kimberlite rocks and gemstones. award the permits, the titles and the li-
Minister of Mining Dr Albert Mbawala censes, there is no form of delays, no form
MP said a prosperous resources sector of corruption, it’s a transparent process
would benefit all Malawians, especially and we make sure it’s a quick process,” Dr
with Lotus targeting a near-term restart of Mbawala said.
mining at Kayelekera. “Our mineral titles are issued for long pe-
“Malawi is just developing as a mining riods so that you don’t have to worry about
country, the sector is in its infant stage,” Dr any changes in the law that will affect your
Mbawala said. investment. We need that stability in terms
“We are currently receiving only 1% of periods of our licenses.”
of our GDP from mining – only 1% – but – Michael Washbourne
when we had the first mine in 2010, the
Dr Albert Mbawala

ASX: PRU

A RAPIDLY GROWING AFRICAN
GOLD PRODUCER,

DEVELOPER AND EXPLORER

For more information visit perseusmining.com
300 Frank W Burr Blvd INFO@AURAMET.COM
Teaneck NJ 07666 www.auramet.com
(201) 905-5000

Page 48 OCTOBeR 2022 aUSTRaLIa’S PaYDIRT