Malawi to host first ever int'l mining investment forum-Xinhua

Malawi to host first ever int'l mining investment forum

Source: Xinhua

Editor: huaxia

2024-04-06 19:58:00

LILONGWE, April 6 (Xinhua) -- Malawi will host the first ever international mining investment forum on April 23-24 in the capital of Lilongwe, the Ministry of Mining announced Friday.

Minister of Mining Monica Chang'anamuno told local press that the inaugural forum will showcase the country's mining potential to attract more investments as the country looks to increase the mining sector's economic contribution to 20 percent from the current 1.2 percent by 2030.

The event will be part of a week set aside to promote agriculture, tourism and mining sectors in a bid to transform the country's economy.

"Through constructive discussions, informative showcases and networking opportunities, participants will explore strategies and solutions to unlock the enormous greenfield mineral potential that Malawi is endowed with," the minister said.

She added that several companies from outside the country have already registered to participate in the event which is expected to attract over 300 participants from around the world and will be presided over by President Lazarus Chakwera.

Malawi discovered several mineral resources in a 2015 aerial geophysical survey supported by the World Bank, and among the discovered minerals were uranium, coal, rutile, niobium, rare earths, oil, bauxite and graphite.

Some companies are at different stages of developing large scale mines that are hoped to accelerate economic growth of the southern African economy.