Minister reiterates mining potential to economy

Minister reiterates mining potential to economy

Post was last updated: March 30, 2023

Minister of Mining Monica Chang’anamuno says government has put the mining sector at the centre of the economy as part of diversification efforts away from agriculture.

The minister said this in Lilongwe on Tuesday when the Government of Malawi and Globe Metals and Mining Company signed a partnership agreement on Kanyika Niobium Mine project in Mzimba District.

Kanyika Niobium Mine project

Chang’anamuno said the agreement entails a 25-year partnership which, among other things, is expected to create about 1 000 jobs for the youths apart from turning around the country’s economy.

She said: “Malawi’s economy has been agro-based since independence and various factors, including the anti-smoking campaign and unpredictable hostile climatic conditions have heavenly affected the agriculture sector.

“The mineral sector has been identified as one of the key priority areas that can lead to sustainable growth of the economy.”

Globe Metals and Mining country manager Neville Huxham said the partnership will have a huge impact on people surrounding the mine area in the district.

“We need proper cooperation because this will create wealth for the people as well as contributing to the country gross domestic product and foreign exchange availability,” he said.

On his part, Minister of Finance and Economic Affairs Sosten Gwengwe said the partnership is critical, describing it as the best way of restoring the economy.

“If we want to talk about economic growth, we need to improve such sectors as mining because they contribute a lot to the GDP.”

Attorney General Thabo Chakaka Nyirenda has advised investors to adhere to the country’s laws.

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