Mining sector courts further investments
Government says the launch of the Geological Mapping and Mineral Assessment Project (Gemmap) two months ago has raised interest among potential investors to consider investments in the minerals sector.
Minister of Natural Resources, Energy and Mining, Bright Msaka, confirmed receiving more expressions of interest after the launch of Gemmap.
The main objective of the project is to provide latest geo-scientific data to be used to promote and maximize the mining sector’s contribution to the country’s socio-economic development.
“The geophysical survey results did not say what types of minerals are available and the quantity of the minerals available. But with the Gemmap, we are now going to do the physical checking where the geophysical survey indicated that there are minerals.
“This is more important because any investor who would want to invest here in Malawi would want to know what kind of minerals are available, what quantity and of what quality,” said Msaka.
While conceding that the project may take several years to be completed, Msaka said government will continuously update stakeholders on the findings.
“The moment we finish searching a place, we will announce the results on the quality, volume and type of mineral found, before going to another area. Then we will start inviting investors around that area,” he said.
Mining is one of the sectors which has potential to become a key player in the economy as Malawi seeks to diversify its economy away from tobacco.