Malawi government officials have disclosed that will use this year’s mining indaba underway in South Africa to entice potential investors.
The indaba is the largest mining investment event in the world with over 350 investors expected to attend.
Chief mining engineer in the Ministry of Natural Resources, Energy and Mining Casius Chiwambo told the local media that while there are many factors that affect the growth of the local mining industry such as demand and production costs, courting investors could help to increase mining contribution to the country’s gross domestic product (GDP).
Mining sector’s contribution to the GDP went down from around eight percent in 2009—at the height of production at Kayelekera Uranium Mine (KM) in Karonga—to one percent in 2016, following the closure of the mine in February 2013, according to Malawi Government Annual Economic Report 2017.
Chiwambo said there are issues that have to be sorted out in the sector such as infrastructure, laws and mineral prices to attract investment.
Mining Indaba managing director Alex Grose was quoted by /Mining Weekly /as saying that there are expectations that participants at the indaba will experience a “return of investor appetite” first-hand.
He touts legislative changes in Africa.