Malawi: U.S.$300m Mining Investment Exploration in Phalombe

Buoyant Malawi, Vice President Saulos chilima Chilima says the prospect of mining rare earth at Songwe Hills in Phalombe will be a game changer for Malawi's economic transformation.

Chilima was speaking Wednesday when he visited the site just days after the investor Mkango Resources Limited announced the prospects of finding total rare earth oxides.

As Chilima wrote later on his Facebook page this means there is a positive impact on hydrometallurgical processing at the mining site.

"This is exciting news for the country. We are in for a big thing within the next two years with an investment of US$300 million US dollars to start the exploration.

"There is also a readily available market for the rare earth across Europe and Asia. Like His Excellency Dr. Lazarus McCarthy Chakwera, President of the Republic, said recently Mining is the next economic pillar for this country," he said.

The Vice President, known as a workaholic since his days in the private sector, further said in his meeting with Phalombe District Council he emphasised that they should be in a state of preparedness to ensure that they are the first to respond to the economic transformation that the Mine will bring to the district.

"This is the time to think of tourism and other related chain economic opportunities. We will ensure that we see through this project because, like I have said, this rare earth mining could be the economic break through for Malawi," said said.

Last Sunday President Lazarus Chakwera unleashed the Tonse Alliance administration dream of making Mining the next big thing for Malawi in the facing of the fading demand for tobacco hitherto Malawi's green gold.

More From: Nyasa Times

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