By Kingsley Jassi:
For the first time in the history of Malawi, two large mines could be operational at the same time by the end of this year, as prospects put mineral revenue at over $300 million (about K525 billion) next year.
With Kayelekera Uranium Mine in operation since September last year, Kangankunde Rare Earth Mine is pushing to start operating by November, according to the latest update by Lindian Resources that is developing the mine.
“The project is aligning to the master schedule, with processing plant construction and mine stripping commencing in February, first blast in April, grid power energisation in July, and targeting first ore feed and first concentrate in November 2026,” Lindian Resources’ Executive Director, Zac Komur says in the release.
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Going by figures from feasibility studies of the two mining companies, they could generate over $300 million in combined annual exports revenue, significantly boosting the country’s forex standing.
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In its July 2025 Malawi Economic Monitor, the World Bank projected that by next year, the government could collect above $100 million (K175 billion) worth of revenue from mining operations, before the figure rises to $500 million when all mining projects under preparations become operational with total forex inflows reaching $2 billion annually.
Political Scientist Henry Chingaipe warns that without creating proper systems that optimise mineral resource utilisation, the country might not see the full benefits of the mineral resources.
He cited the need to create a Sovereign Wealth Fund to ring-fence revenue collected from mining operations and ensure they’re not used for consumption but national infratsructure transformation to benefit current and future generations.
Chingaipe said the fund could also help to develop expertise. He worried that, currently, the country does not have specialised mining lawyers and accountants.
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He further said there was a need to have a resource sharing framework that ensures hosting districts and communities return significant resources for real transformation.
Another economist, Dalitso Kubalasa shared the concerns that without a solid governance framework Malawi is at a growing risk of falling into a resource curse, regardless of the value of minerals.
“As a country, we know what needs to be done differently. The government and all stakeholders need to unapologetically take intentional legal (legislative), political and economic governance reformist actions, to ensure that Malawi is truly benefiting from the significant economic gains that can and should come from this sector,” he said.
The government made a commitment to set up a Sovereign Wealth Fund, an idea currently in the feasibility study with support from the United Kingdom government. Despite the setting up of Malawi Mining Company its footprint on mining activities is not yet visible as it struggles to raise resources for any significant projects.
