Export Development Fund (EDF), a subsidiary of the Reserve Bank of Malawi (RBM), says most of the country’s gold is being smuggled to neighbouring countries, leading to fluctuations in prices on the market. In a written response to a questionnaire, EDF public relations specialist Deliby Chimbalu said people are attracted by the higher prices offered
The African Mineral Strategy Group has urged Malawi to play a leading role in financing exploration of mineral resources in the country to boost the sector and reap more. Speaking during the official opening of the inaugural Mining Investment Forum in Lilongwe yesterday, African Mineral Strategy Group secretary general Moses Engadu said African governments, including
The National Planning Commission (NPC) says while funding to the mining sector has increased, more resources are needed to kickstart the sector. In an interview on Thursday, NPC director general Thomas Chataghalala Munthali observed that while the legal and policy environment has made significant progress, small resource allocations to the sector have delayed the mining
The Reserve Bank of Malawi says a rebound in the mining sector powered by the formalisation of artisanal mining and the introduction of structured markets for gold and gemstones will push up the country’s economic growth projections. In its June 2023 issue of the Financial and Economic Review published last week, the central bank projects