Malawi has signed an agreement with Africa Mineral Strategy Group to help the country safeguard its minerals.
By signing the pact, Malawi becomes an official member of the group.
According to the Minister of Mining, Monica Chang’anamuno, this will help the country to reap the benefits from its minerals.
Secretary General of the Africa Mineral Strategy Group, Moses Angandu, says their aim is to ensure that African countries get fair mining deals.
He says despite having abundant minerals, most African countries have not benefitted from the natural resources and their target is to foster collaboration, negotiation, attract better investment opportunities and mobilise the continent to work together.
Angandu says one of the founding members of the organisation, the Kingdom of Saudi Arabia, launched a $15 billion fund to invest in copper, iron and lithium, among others, which Malawi has in abundance.
He further says the organisation is working with the country’s minyistry of Mining to enable Malawi tap into this opportunity.
The Africa Mineral Strategy Group has 16 founding members and Malawi is the fourth country to sign the charter.
