Govt to complete 3 mining agreements by Jan 31
Government will complete Mining Development Agreements (MDAs) with three mining companies — Global Metals & Mining, Mkango Resources and Lotus — by January 31, 2023.
Minister of Mining, Albert Mbawala made the announcement on Thursday in Lilongwe during Government Faces the Press to update the nation on the progress in the mining sector.
He said the Ministry of Justice, through the Attorney General (AG), has engaged two London International firms, DWF and Trinity in order to conduct due diligence on MDAs at no cost to government.
“This is to ensure that the MDAs are water-tight, particularly on fiscal matters as well as to be robust enough to ascertain a win-win situation for the company and the country,” he said.
Mbawala anticipated that some of the mining projects will graduate into real mining during the 2023/24 financial year and also revealed that two upcoming mining projects will roll out in 2024.
The Minister said Mawel Mining Company completed the feasibility studies and was granted a medium scale mining licence for the extraction of heavy mineral sands at Makanjira in Mangochi.
Another company, Lindian Resources Limited, has been given a medium scale mining licence and is currently conducting deposit confirmation for rare earth in Balaka.
Mbawala also said Sovereign Metals & Mining Company is finalizing feasibility studies as well as environmental and social impact assessment for the exploitation of graphite deposit at Malingunde in Lilongwe.
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