Australian company eyes Lilongwe for graphite mining: Malawi to earn K110bn
An Australian mining company is investing US49 million (about K36 billion) in Malingunde, Lilongwe where it wants to mine graphite.
Juliana Stevens, general manager of the company said the company wants to mine the graphite at Masambankhunda.
Stevens said the Sovereign Metals Limited- has discovered 52 000 metric tonnes which will be mined for a number of years.
Over the 15-year life, the project will the produce 830 000 tonnes of concentrate from processing of 9.5 million tonnes of ore.
“We are doing the environmental impact assessment. This is important because the area is highly populated and has river whose water we need to protect,” said Stevens.
This comes at a time when there have been concerns that some international mining companies export huge tonnes of minerals in the name of samples yet Malawi gains nothing.
But Stevens said his company will work with the surrounding communities.
According to the draft Environmental Social Impact Assessment (Esia) Report, Treasury is set to earn $150 million (about K110 billion) tax revenue once mining at Sovereign Metals Limited-owned Malingunde Graphite Mine in Lilongwe starts.
The report shows that the project will generate revenue in the form of taxes and royalties.
“Estimated tax payable over the life-of-mine is $150 million with an additional $50 million [about K37 billion] in royalties.
“The overall level of revenue generated by the project is anticipated to create a noticeable increase to total government revenues. Increased business activity around the project will also provide increased tax revenue to government,” reads the report in pat.
The company says local workers from the surrounding Malingunde area will be given preference for job opportunities, depending on their skills level, as it is anticipated that available jobs will be largely low-skilled or semi-skilled.
During operation, an estimated 260 people, including expatriates are expected to be employed.
Sovereign Metals Limited is 100 percent owned by Flake Graphite Project and is headquartered in Perth, Australia.
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TILEKELENI KATUNDUYU NDI WATHU. OLEMERA AKHALA AZUNGU BASI: BY THE WAY TITATI TAYAMBA TOKHA MINING ZIKHOZA KUTIPINDULUIRA HOW? BECAUSE KATUNDU WAKAMBIDWA APAYU CAN BE USED IN THE FOLLOWING WAYS: 1. Writing and artists materials (
2. Lubricants and refractories (used in steel and iron manufacturing, plus ma brake amagalimoto)
3. Lithium-Ion Batteries (All batteries: phone etc)
4. Graphene Technology (medical implants such as artificial hearts, aircraft parts)
Nde atibele stuff imeneyi noooo MWATANI KODI?
Zipangizo zokumbila miyala kupezeka pompopompo, koma kutseka ma potholes mu Mmiseu kusowa anthu wamba amakwilila okha kuseza dothi pamutu kuthila mmuseu kwinaku kuteteza ma motorist kungozi. Olo dc amangomunyemera wa ka 1 ton kukatuta mcenga ali ndi miyaya kuzathila mmiseumu ma potholers zomwe zimafikuka tsiku lomwelo. No accountability at all. This has been happening from way back nkumati citukuko citukuko!!! Basyatds
the tax issue is just khambakamwa they dont even pay,,,even ya ku kayerekera ija did not pay tax,,,, they were in tax holiday by the time holidy ya tax inkatha thats when they claimed kut sakupindura n closed bussiness,
ATIBERENSO. POBWERA AMAONEKA GATI ABWINO. PARADIN ZIDALIBWAJI? IT’S HIGH TIME THAT GOVERNMENT SHOULD CONSIDER INVESTING IN MINING INSTEAD OF RELYING ON TAXES AND LOYALTIES. THIS IS NON STARTER. A CASE STUDY OF PARADIN.
I am sure someone in government is celebrating already kuti zapezeka zosolola if this comes to fruition. Kkkkkk
What a sad world when a whole country excites over earning $ 150 million while some billionaire elsewhere is worth more than $100 BILLION
Australia again, after Kayerekera saga. This is another looting of our resources
Fortunately the mining industry will be after APM/DPP are gone.
Koma yaaaaa ndikaesa sample inapita ku canada from dzalanyama tone and tonnes.
Yapotokera lu australia kuti ikumane ndi ya ku pkalombe ija.mmmm
Brother wa muntjalika paja ali kumenko.
Mw engineers mwatani.
Kayerekera boma la bingu munatafuna nokha ndalama zake kusiya ma locals with peanuts and HOV. THE SAME WILL JAPPEN.
MINING GAYE
And how much will malawians get out of this? How much will Sovereign metals make? I feel like these project must involve Malawians so that we can start to build capacity to do this investments ourselves in the future. In America, it is american companies not saudi arabian companies that do the mining. same in australia, same in china. why not us. we need to start building capacity by insisting that 30% of the venture be owned by Malawian citizens and the government owns 10% for representation. The foreign investors can own a controlling stake of 60%. But eversince I… Read more »