The Reserve Bank of Malawi (RBM) Financial and Economic Review for the second quarter of 2019 has shown that the mining and quarrying sectors are projected to grow by 5.8% in 2020 up from the current 3.6% projection this year, a figure which is higher than 2.1% estimated in 2018.

According to the report, the growth in the mining sector to  increased revenue from Kasikizi Coal Mine and limestone mining in Mangochi coupled with graphite exploration works at Malingunde in Lilongwe.

The report follows data from another report called Environmental Social Impact Assessment (Esia) which shows that the Malingunde Graphite Mine in Lilongwe will generate revenue in the form of taxes and royalties amounting to $150 million (about K110 billion). On the other hand, the report says the project will produce about 52 000 tonnes of graphite concentrate from 600 000 tonnes of ore per year. By the end of 15 years the project will the produce 830 000 tonnes of concentrate from processing of 9.5 million tonnes of ore.