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Minister woos FDIs into mining industry

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Minister of Mining Albert Mbawala has expressed hope that three Australia-based companies and a Ghanaian firm will soon invest in the country’s mining industry.

This follows an interface he had with representatives of the companies at the recent Africa Down Under Conference in Australia.

In an interview, Mbawala said he had fruitful discussions with Apollo Minerals Limited which is interested in the exploration and mining of zinc and lead, Black Rock Mining Limited, interested in exploration and mining of graphite, and Peak Rare Earth Company, interested in the exploration and mining of rare earth minerals, all from Australia.

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He further indicated that Ghana-based PW Mining International also expressed interest in exploring gold and copper deposits.

“We need to take the necessary information to companies that have the capacity to invest in the mining sector in Malawi and that is just what we did at the conference. These investors need to know what the government policy is and some of the incentives put forth for their smooth operations in Malawi.

“…for example, duty-free on importation of equipment for exploration and mining activities, and the introduction of the web-based mining cadastre for transparency in licencing for all tenements on first come, first served basis,” Mbawala said.

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The Malawi delegation also met the Assistant Minister of Foreign and Commonwealth Office of Australia where they discussed mineral projects implemented in Malawi by Australian companies registered on the Australian Stock Exchange.

The Australian government assured Malawi of support in capacity building in the areas of contract negotiation and technical training of mining engineers, metallurgists, mineral economists and related mining experts.

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