As a result, the government has taken several steps to generate investor confidence in its mining sector, with a view to attracting foreign investment flows. A new Mines and Minerals Bill was introduced last April, which aims to foster transparency and accountability in the sector by establishing an independent regulatory authority. If approved, the independent regulator would be responsible for granting mining licenses, overseeing mining activities and advising the Minister on mining-related policy.
As a relative newcomer to mining development, Malawi is also prioritizing local value generation and retention from the get-go. The government has set standards that target mining investors to reinvest 0.45% of total profits back into the local communities in which they operate. The country hopes that mining investments can be leveraged to create forward and backward linkages that build local capacity, create jobs and spur industrialized growth.
CMA 2023 will discuss untapped mineral potential, evolving regulatory frameworks, community engagement and more both in Malawi and across the southern African region. The participation of several leading African mining ministers demonstrates a shared commitment to retaining resource sovereignty and positioning the critical minerals sector as a strategic economic pillar going forward.
The Critical Minerals Africa 2023 summit on October 17-19 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week 2023 conference on October 16-20, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com
