Malawi budget process faulted for lack of transparency

The open Budget Index report 2008 of the Washington, DC based International Budget Project (IBP) ranks Malawi on its index measuring the yransparency of the budget process READ MORE

Forex wasted on toothpicks

As Malawi strives of becoming a producing and exporting country, realities in the ground still indicate that the country remains a net importer of goods, most of which are simple and easy to make, like toothpicks. READ MORE

Kayelekera to begin commercial productin in September

In its latest quarterly report, Paladin announces  that commercial production is expected to be achieved during the September quarter with first production planned to be shipped out towards the end of the September 2009 quarter.

The mine was officially opened by the President of Malawi, His Excellency Dr Bingu waMuthariika on 17 April. Commissioning and optimisation of the uranium process circuits is ongoing and production ramp-up has commenced with the plant initially operating in an intermittent mode during this phase. It is  anticipated that the plant achieve 60%-70% design capacity during the September quarter.

 Project Development

The report further states that  final construction of the sulphuric acid plant is expected to be completed by late August with the remaining works  now predominantly being the lagging and cladding of the completed acid process equipment, piping and vessels.

The construction workforce is being progressively demobilised with the intention of retaining several hundred Malawian workers for general landscaping and camp upgrade.

Detailed planning and scheduling of the earthworks for the lined decant pond and lift extension of the north wall of the tailing storage facility by the earthworks contractor has commenced with commissioning of the former planned in December 2009, prior to the next wet season.

 

The Malawi Government’s road building contractor has sealed the first 13km section of the M26 public road from the town of Karonga to the mine site with the exception of two bridges and some culverts/drains which will be completed by the end of the year. Commencement of major road works on the final 19km section to the mine

access road is planned to start in the next quarter. Road access to site remains non-problematic.

Production

Albeit still very much in its commissioning and ramp-up phase, Kayelekera produced 34,600lb during the June quarter.

Mining

Open pit mining activities, operating on a single daily shift, continued to focus on pit development. Several benches are now developed and the ore body has been fully exposed across the width of the pit. A total of

223,200t of ore grading 1,195ppm U3O8 and 740,835t of waste were removed from the pit in this quarter with a total

of approximately 2.37Mt mined from the area since operations began in 2008. The mine is planned to go to a two

shift operation in July.

Process Plant

The Kayelekera processing plant is the first of its kind to be built outside Russia and also employs new equipment and processes which will require some degree of refinement during the ramp-up period. The crushing and milling circuits are generally operating problem free with the design grind being easily and consistently achieved. To date, mill throughput has been maintained at around 100-110t per hour as downstream sections are commissioned.

 

Exploration Activity

Resource extension drilling to the west of the Kayelekera open pit started in June. Currently 18 holes totalling 2,022m have been completed. Initial results indicate that the mineralisation continues to extend to the west. However, detailed studies of the completed drilling programme are needed to determine whether the mine life will be extended. Final results and a subsequent resource update are expected in the December quarter.

For Full repord 

Government attends EITI introductory seminar

Malawi is finally getting serious about its mining. The government of Malawi sent a representative to attend the EITI introductory seminar which took place in Tanzania from the 15th-17th of June. The official from the Ministry of Finance commented that the meeting was very helpful and that Malawi needs to take a position on this initiative so that the country can benefit. The government of Malawi has been reluctant to show interest in the EITI due lack of awareness of the issue within government circles READ MORE

IMF disburse US$80m to Malawi

Malawi is among countries earmarked for a special International Monetary Fund (IMF) rescue plan to help countries combat the world economic crisis.  IMF resident representative Maitland Macfarlan said in Lilongwe on Wednesday Malawi would receive a special financing of US$80 million from the fund under the fund’s contingent allocation of Special Drawing rights (SDRs) to help the country reduce its foreign currency shortages.  READ MORE

G-Mobile in US$90m network rollout deal

Malawi’s yet to be connected third mobile phone company Global Advanced Integrated Networks (G-Mobile) has taken a step-forward in its roll-out plan following the signing on Tuesday of a US$90 million partnership with South Africa’s Beryl Capital and Telecoms for the supply, installation and commissioning of G-Mobile network in the country. read more

Another Maize bumper harvest for Malawi

Ministry of Agriculture says this year’s maize harvest shot to 3.7 million metric tonnes up from about 1.3 million metric tonnes achieved in the 2004 growing season. READ MORE

MTL fibre cabling nears completion

Fixed land telephone operator, Malawi Telecommunications Limited (MTL), has announced it is almost through with its Fibre Cable Optic network project also known as the Back Bone which aims at facilitating speedy voice and data transmission from the main line to recipients. READ MORE

Malawi All Share Index stuck

Malawi's scale of trading on its Malawi Stock Exchange (MSE), the Malawi All Share Index (MASI) has not shown any activity for the last four weeks raising more fears on its performance; the local shares market has not registered significant share price gains since the beginning of this year. READ MORE

Malawi Shows Obama’s Goal for African Self-Reliance Is Possible

resident Barack Obama need look no further than Malawi to support his argument that with the right seeds, fertilizers and transport, Africa can feed itself. READ MORE

Malawi inflation slows again in June

Malawi's headline inflation slowed to 8.4 percent year-on-year in June from 8.7 percent in May on a further easing in food inflation, the National Statistical Office (NSO) said on Friday. READ MORE

Nyala Ruby Mine is Back in Business

The Nyala ruby mine at Chimwadzulu, Malawi, has produced rubies for nearly twenty years, but had been out of production for 2 ½ years, as a new long-term lease was negotiated with the Malawian government. READ MORE

Chinese bank backs Malawi hotel, conference centre project

The Malawi government has secured a $90-million loan from Export & Import Bank, of the People’s Republic of China, for the construction of a five-star hotel and an international conference centre in the capital city, Lilongwe.

Finance Minister Ken Kandodo has already presented the loan Bill to the country’s Parliament, which has approved it READ MORE

Malawi to raise loans for Nacala Corridor roads projects

Malawi’s Parliament has given President Bingu wa Mutharika’s government the go-ahead to obtain loans totalling $75,1-million for the implementation of four transport infrastructure development projects. 
 READ MORE

Sweet Malawi

One not widely recognised fact about ILLOVO, the South-Africa Sugar company,  is that Malawi is vital to its well-being By country, contributions to operations profit were: South Africa 19%, Malawi 45%, Zambia 12%, Swaziland 9%, Tanzania 9% and Mozambique 6%. READ MORE

Malawi Central Bank Governor Resigns

Malawi Central Bank Governor Victor Mbewe resigned late on Tuesday, bank spokesman Samuel Malitoni said, ending weeks of speculation that the Bank head was on his way out. READ MORE and MORE

Malawi to Diversify

The mainstay of Malawi's economy is agriculture. Tobacco,the main cash crop, accounts for more than 70 per cent of exports, but has been experiencing a decline in prices in the last two years. The country now wants to diversify the products it sells abroad. READ MORE

Malawi Tobacco production 224 000 tons

Malawi's tobacco output was 224,000 tonnes, below the projected 250,000 tonnes but still 26 percent higher than last year's harvest. Read More

New investments

Malawi expect a whopping K75b investments in foreign investments Read More

Malawi to connect via Dar

Malawi wikk receive US$20 million from the World Bank to enable the country to link to the Indian Ocean fiber optic cable via Dar Es Sallam READ MORE

Malawi to feel recession for some time

BLANTYRE (Reuters) - Despite signs that the worst of a recession in the global economy is over, Malawi will continue to feel its impact for some time, Finance Minister Ken Kandodo said on Monday.READ ON

2009 Budget Statement

For your convenience here is the link to the 2009 Budget State

Tobacco Down by 31 percent

This is not good news. Tobacco earnings in Malawi , the world’s largest producer of the burley variety, have fallen 31 percent after 14 weeks of trading compared with a year earlier. Read More

Kanyika mining company talking to China

Globe Metals & Mining (ASX: GBE) has commenced discussions with a number of Chinese parties regarding off-take arrangements for the sale of ferro-niobium (FeNb) from its Kanyika Niobium Project. in Mzimba. Globe’s Managing Director, Mark Sumich, has recently returned from a 10 day trip to China, which encompassed five cities, where he met with potential off-take partners.

Globe expects that in due course, off-take contracts will be entered into with Chinese steel mills, metal trading houses and/or Chinese mining groups. Globe has already entered into existing supply arrangements, representing 35% of Globe’s planned niobium production of 3,000tpa , which are due to commence in 2012,READ MORE

Corporate presentation (June 2009) View

Interesting photos VIEW

Agriculture dominates budget

For the second year running, the agricultural sector got the biggest share in the K257 billion budget new Finance Minister Ken Kandodo presented in Parliament Friday.Read More

New Finance Presents First Budget

New Finance Minister Ken Kandodo Friday presented his K257 billion national budget, announcing new tax measures to boost local production and increase investment while reducing the burden on taxpayers by increasing the tax-free bracket for Pay As You Earn (PAYE) from K9 000 to K10 000.Read More

Economy still growing strong

Malawi's economic growth is expected to slow to 7.9 percent in real terms in 2009, while inflation should average 9.7 percent, Finance Minister Ken Kandodo said on Friday.Read more

MRA to surpass tax revenue target

Malawi Revenue Authority (MRA) says it has managed to collect it is expected to collect K117.3 billion during the 2008/09 fiscal year. Read More

Bid for Lilongwe University

The Malawi government is inviting expressions of 
interest for the design and construction supervision of the planned Lilongwe University of Science and Technology. Read More

1000 new jobs for Balaka

A new textile industry will create 1000 jobs in the strategically placed town of Balaka READ More

Weathering the storm

According to the Reserve Bank of Malawi, the Malawi economy is weathering the current economic crisis so well that it in fact enjoying increased exports this years READ More

Nacala Road

The African Development Bank (ADB) Wednesday approved two loans in the amount of US$181 million to Mozambique and Malawi to finance construction of the first phase of the Nacala road Corridor, linking the two countries to Zambia.

The money will be used for the rehabilitation of the Blantyre-Zomba Read More. It will also fund the 13 lm road bypassing Lilongwe mentioned in the Presidents Speech to Parliament.

This work is part of the ambitious rehabilitation and extension of the Malawi road network that includes the improvement of the Chipata-Lilongwe-Liwonde road Read More