Malawi’s Minister of Mining, Monica Chang’anamuno, will return as a speaker to this year’s edition of the Critical Minerals Africa (CMA) Summit – Africa’s premier gathering for critical mineral industry stakeholders. Minister Chang’anamuno’s participation will be vital for highlighting partnership and investment opportunities within Malawi’s burgeoning mining sector.
Malawi is ramping up exploration and development of its critical mineral resources, with several rare earth and niobium ventures set to launch within the next two years. Australian mining firm Lindian Resources is conducting a feasibility study for the Kangankunde Rare Earths Mineral Project, following the completion of a drilling campaign that revealed promising high-grade deposits earlier this year. The study will guide the selection of a contractor for the design and construction of a processing plant and associated infrastructure. Meanwhile, Canadian mining firm Mkango Resources is advancing the Songwe Hill Rare Earth Project in southeastern Malawi, with initial production targeted for 2025.
In the graphite sector, developments such as the Kasiya Rutile-Graphite Project – led by Australian mining company Sovereign Metals – is set to position Malawi as a key supplier to the global market. The nearly $600-million project will represent the world’s largest producer of rutile – the preferred source of titanium ore – at 222,000 tons per year and one of the largest natural graphite producers outside of China at 244,000 tons per year, helping meet global demand for the manufacturing of nuclear reactors and electric motor engines.
At CMA 2024, Minister Chang’anamuno will explore Malawi’s potential contributions to the global supply and demand of energy transition minerals, underscoring the country’s vast deposits of critical minerals including nickel, cobalt and bauxite. Malawi is seeking to attract new investors, accelerate the commercialization of its critical mineral reserves and boost the mining sector’s GDP contribution to 10-15% by 2030. The drafting of the Mines and Minerals Bill in April 2023 – which establishes an independent regulatory authority for mining permits – affirms the country’s commitment to maximizing mining sector activities for economic growth. Minister Chang’anamuno is expected to outline Malawi’s strategic vision and future outlook for the critical mineral industry, detailing regulatory reforms designed to streamline mining processes and enhance investment appeal.
“Malawi stands on the brink of transformation, owing to its vast untapped mineral base and investor-friendly policies. A fresh wave of investments across the country’s critical minerals value chain will be crucial to unlocking Malawi’s economic growth and shaping the regional and global transition to low-carbon technologies,” stated James Chester, Energy Capital & Power CEO.
Source link : https://africanminingmarket.com/malawi-mining-minister-to-highlight-investment-prospects-at-critical-minerals-africa-2024/18858/amp/
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Publish date : 2024-06-26 11:07:59
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