Muluzi up beat on Mining Act
Minister of Mines and Natural Resources Atupele Muluzi says the new Mining Act is being formulated to make the sector attract more investment while at the same time ensuring that Malawians benefit from mining ventures in the country.
According to Muluzi, government is planning a meeting for all stakeholders in the sector to review the draft law so that it takes on board the views concerned parties have raised concerning the status of the industry.
Muluzi was speaking when he addressed delegates to a three day mining indaba held in Lilongwe recently.
The participants summoned Muluzu to address some of the issues that were raised during the meeting which included suggestions to empower communities to sign development deals with mining companies and a proposal that communities should be given a percentage of the profits made by the companies,.
In his response, Muluzi said government is reviewing the country’s mining fiscal regime to come up with taxes that increase benefits to the country from the sector.
“We are determined to bring sanity to the sector to bring transparency to regain trust. Our neighbouring countries have all benefited from mining but Malawi hasn’t.
“But this provides an opportunity that we have a chance to learn from mistakes of our neighbours conference was organised to provide the platform for stakeholders to bring up issues that might feed into the new law and influence on policy directions,” he said.
One of the organisers of the event Evlyn Chawinga of Action Aid said the conference was organised to provide the platform for stakeholders to bring up issues that might feed into the new law and influence policy direction on the matter.
Today’s top business story: Top Commercial Banks In Malawi