Malawi’s Export Development Fund (EDF) has struck a partnership with FDH Bank to open four new Gold Trading Centres in Karonga, Mzimba (Jenda), Mangochi and Blantyre, as the state-backed fund seeks to draw a greater share of the country’s gold trade into formal channels. The tie-up extends EDF’s purchasing network beyond its existing outposts in […]
The Reserve Bank of Malawi (RBM) has finally taken cognizance that gold is being mined on a large scale in the country and has now announced that from May, 2021, it is introducing a structured market for gold. Gold market is currently carried out on a black market leading to loss of revenue by government […]
Private practice lawyer Ishmael Wadi has told Lilongwe Magistrate Court that his client, an Indian who was arrested at Kamuzu International Airport in Lilongwe when he was found in possession of 15 bars of gold weighing 13.747 kilograms valued at K371.9 million wants to enter a plea of guilty. Moinuddian Mohamed Iqbar Sodagar who was […]
Preliminary investigations of gold deposits in central Malawi have identified three targets that contain anomalous values of the precious metal. The exploration undertaken by South East Africa Mining Exploration (SEAMEX) carried out the study involving systematic stream sediments sampling and geological observation in the central tobacco growing district of Kasungu where they found five water courses and […]