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Long wait for Mining Company rolling

Mining

Malawians should wait a little longer for the rolling of the government’s National Mining Company.

Rolling out of the firm would require in excess of K5 billion, an amount which the Ministry of Mining will solicit from the Treasury.

The capitalisation of the company is part of revamping the mining sector, a path which President Lazarus Chakwera announced in May this year.

Principal Secretary in the Ministry of Mining Joseph Mkandawire Wednesday said the funds were yet to be secured.

Commenting on the matter, Natural Resources Justice Network Chairperson Cossam Munthali said such delays only show that there is no commitment of revamping the sector apart from the President talking about it.

Munthali believes, with or without an institution such as the Mining Company, the sector cannot be revamped if it still has duty-bearers who are not patriotic.

“The issue is not about creating these institutions but the issue is about doing things right through leadership that will work on key deliverables so that when the President makes a statement on what needs to be done, it should be done,” he said.

In his speech in May, Chakwera said he wanted his government to revamp the sector.

“The country has issued over 250 mining licences but we still do not have a proper mining industry. This should not continue because not only are unregulated mining activities a threat to national security but they perpetuate Africa’s legacy of allowing unscrupulous external traders to exploit our people,” he said.

For a long time, Malawi’s economy has been agro-based, with unprocessed tobacco being the main export.

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