BY DRAXON MALOYA
Malawi’s mining industry is experiencing unprecedented growth, driven by the surging demand for its high-quality muscovite mica. The sector’s significant contribution to the country’s Gross Domestic Product (GDP) has established mining as a vital component of Malawi’s economic landscape.
According to Fatsani Victor Kamtiki, Director of Beka Mining Company, Malawi’s muscovite mica is renowned for its exceptional quality, surpassing black mica and captivating the attention of five Asian markets over the past two years.
“We’ve witnessed tremendous interest from Asian markets, but shipping costs remain a significant challenge,” Kamtiki noted. “Despite this, the prospects for our muscovite mica are promising, generating substantial economic benefits, including job opportunities and driving economic growth.”
The mining of muscovite mica has addressed unemployment concerns and promoted socio-economic development in both rural and urban areas. Malawi’s emergence as a significant player in the global mining industry is attributed to the demand from Asian markets.
Recently, experts, including Geologist and Mining Analyst Shadreck Mwamulowe, recommend investing in transportation infrastructure to mitigate shipping costs, exploring additional markets beyond Asia, ensuring sustainable practices, and implementing initiatives to benefit local communities.
“Malawi’s muscovite mica mining sector presents a promising opportunity for economic growth and development,” Mwamulowe emphasized. “With strategic planning and investment, we can solidify our position in the global miningw market, contributing to a more diversified and prosperous economy.”
Mwamulowe added that addressing challenges and adopting sustainable practices are crucial for the sector’s long-term success.
Hilton Eneya Banda, Chairperson of Akatswiri Holdings, conquered with several mining experts urging local investors to invest in the mining sector, citing Malawi’s rich deposits of minerals such as Rutile, Niobium, Uranium, micah muscovite, and artisanal gold.
In April, President Lazarus Chakwera underscored the importance of investing in the mining sector, noting its key role in transforming Malawi’s economic growth. The President called for a well-regulated mining sector, emphasizing the need to prevent exploitation by foreigners and illegal local miners.
Ministry of Mines officials, including has of late committed to providing a conducive environment for investment, boosting the industry. Moses Engadu, Secretary General for Africa Minerals Strategy Group, praised the government’s initiatives and urged Malawi and the African continent to add value to the mining industry.
