Reserve Bank cuts rates to 13 pct -

LILONGWE July 31 (Reuters) - Malawi's central bank has decided to cut its key interest rate to 13 percent from 15 percent amid falling inflation and slightly weaker growth projections, a senior central bank source said on Saturday.

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Rush On for 'Rare Earths' as U.S. Firms Seek to Counter Chinese Monopoly

MOUNTAIN PASS, Calif. -- About an hour's drive southwest of Las Vegas, on a private 2,200-acre desert patch flanked by Clark Mountain and the Mojave National Preserve, lies an idled mine many consider to be a linchpin in the U.S. push for energy independence and national security.TO READ MORE CLICK HERE

Globe Metals &Amp; Mining To Begin Drilling At Machinga Rare Earth Project

African-focused Globe Metals & Mining (ASX: GBE) has reported that the contracted reverse circulation (RC) drilling rig has been mobilised to the Machinga Rare Earth Project in southern Malawi to commence a maiden 1,500m drilling program.

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Mindale ('Nthale') Iron Ore: Magnetic Survey Completed

Britannia Mining is pleased to announced that it has completed a magnetic survey at the company's high grade iron ore project in southern Malawi.

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US ‘conflict minerals’ legislation could push up tantalum prices

26th July 2010  New US legislation regarding “conflict minerals” from the Democratic Republic of Congo (DRC) is likely to push up the price of tantalum oxide as it could lead to a supply squeeze, Africa-focused Globe Metals & Mining said on Monday.

Benchmark Tea Price in Malawi Advances 1.4% at Blantyre Auction on Demand

The benchmark price of tea in Malawi, Africa’s largest producer of the crop after Kenya, rose 1.3 percent as good quality tea received strong bids from buyers.TO READ MORE CLICK HERE

Editorial Comment 1

Lynas has so far been the most active. Global Metals is active in exploiing rare earths in Malawi.

The China connection is interesting. In 2007 Lynas acquired New Rare Earths Resource in Malawi. The question that immediately arose was whether  Australia would allow Chinese  to take over Lynas and thus corner a mineral that the West considered strategic. Rather than by Lynas, China may chose to go it alone in Malawi which may partly explain Chinese excitement about Malawi.


Remember:




“There is Oil in the Middle East,
…There are Rare Earths in China.” Deng Xiaoping

Globe buys Malawi rare-earths project

PERTH  Globe Metals & Mining has increased its footprint in Malawi with the acquisition of the Salambidwe rare-earths project.


The Salambidwe project is located on the border with Mozambique, with about 85% of the project falling inside Malawi. The project is about 6 km T diameter, and dominated by syenite and nepheline syenite, with a core of agglomerative rocks.TO READ MORE CLICK HERE

Rare Earths Looking Rarer By the Minute

There is a big upset in the Rare Earths market right now, and with good reason.
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Related Reading CLICK HERE and CLICK HERE

Paladin reports jump in uranium output

Paladin Energy Ltd has reported a record quarter of uranium production and says it expects to meet its 2011 financial year output target of seven million pounds (Mlb) of uranium oxide.TO READ MORE CLICK HERE

Globe Metals & Mining reports resource estimate at Livingstonia Uranium Project

Globe Metals & Mining (ASX: GBE) has reported that Resource Star (ASX: RSL) has announced an an initial Mineral Resource Estimate (MRE) at the Livingstonia Uranium Project in Malawi, southeast Africa, based on an independent JORC reported Inferred Mineral Resource report.

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Chinese bank to support Malawi with $2bn

Malawi may soon find itself a beneficiary to $2 billion to finance agriculture, mining, manufacturing, energy and other projects. The China Import and Export Bank said during its 10-man strong visit to the country.
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New Bridge Over the Zambezi

The Mozambican government has formally award the concession to build a new bridge over the Zambezi to a consortium, Estradas de Zambeze, dominated by two major Portuguese building companies, Soares da Costa and Mota Engil.
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paladin pays mk385m first royalties from kayelekera uranium-mining

Paladin Africa at Kayelekera has delivered its first royalty totaling MK385 million to government

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Navigability of Zambezi Under Discussion

2 July 2010

Maputo — The best option for moving coal from the western Mozambican province of Tete to the Indian Ocean is by barge down the Zambezi river, rather than by road or rail, argued Martin Pepper, president of the US-based company Global Marine Resources, at a Thursday conference in Mapu

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"World Bank impressed with Malawi’s fiscal prudence, pledges more support

As the Y 2009/10 financial year winds up on June 30 and the Y 2010/11 financial year commences on July 1, the World Bank said in a interview that it is impressed with the progress the Malawi government has made over the past five years and that the bank will continue to provide budget support to the government."TO READ MORE CLICK HERE