President Dr Lazarus Chakwera has stressed the need for order in the mining sector if the country is to safeguard its natural resources and benefit from the wealth they offer.
President Chakwera said this in Lilongwe during the launch of the Malawi Mining Investment Forum which is the first in the country.
The Malawi leader said ignorance, lack of order and investments are the main challenges which have affected the mining sector for a long time.
According to the president, government will not endorse mining contracts which do not guarantee return on investment.
President Chakwera further said his government will continue strengthening legislation and protecting minerals through the Malawi Defence Force and other security agents.
The president said his government has strengthened legislation and established the mining authority to protect the country’s wealth. He is optimistic that these efforts will transform the country economically by 2030.
In his key note speech, Minister of Mining from South Sudan, Martin Gama Abucha, highlighted the need for more investment, infrastructure and collaboration to ensure African countries benefit fully from their minerals.
Secretary General of the Africa Minerals Strategy Group, Moses Angandu said there is need for collective efforts in value addition to ensure minerals benefit African countries.
Malawi has deposits of minerals such as rutile , graphite, bauxite, gold, uranium, marble and gypsum .
Under the ATM Strategy, the Malawi Government envisages to grow the mining sector and make it contribute to the Gross Domestic Product to 10 percent by 2030.
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