Malawi’s Ministry of Mining has launched its upgraded Mines and Minerals policy which is predicted to revitalise and promote the mining industry in the country.
The purpose of the policy is to enhance the contribution that the country’s mineral resources contribute to the economy.
Historically Malawi has been an agro based economy where up until recently mining amounted to just 3% GDP.
“Government realises that the economy has a structural problem that results in perpetual shortage of foreign exchange. This originates from the fact that the country heavily relies on agriculture in order to generate foreign exchange while at the same time there is dependence on imports,” said Minister of Mining John Bande.
Recently mining has been reported to have grown to 10% GDP fuelled mainly by the success of Paladin’s Kayelekera Uranium project in the north of the country.
- 1 Jun, 2013
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