Sacoil awarded Malawi petroleum prospecting licence

Sacoil awarded Malawi petroleum prospecting licence: "SacOil awarded Malawi petroleum prospecting licence
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JOHANNESBURG (miningweekly.com) – Shares in JSE-listed oil and gas company SacOil climbed 6.45% on Thursday as the firm announced that it had won an onshore petroleum-prospecting licence in Malawi."

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Britain gives Malawi £20 million emergency funds

AFP: Britain gives Malawi £20 million emergency funds: "Britain gives Malawi £20 million emergency funds
(AFP) – 1 hour ago
BLANTYRE, Malawi — Britain will give Malawi £20 million ($32 million, 25 million euro) in "emergency budget support" to boost social schemes in the impoverished southern African nation, Malawi authorities said Friday.
The aid was "in recognition of the efforts the government has taken to fix the economy," the State House press office quoted Britain's Secretary of State for International Development, Justine Greening, as saying in a statement."

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Malawi Government Committed in its Support to Fast Track Development at Britannia's Iron Ore Project - PR Newswire - The Sacramento Bee

Malawi Government Committed in its Support to Fast Track Development at Britannia's Iron Ore Project - PR Newswire - The Sacramento Bee: "Malawi Government Committed in its Support to Fast Track
LONDON, Nov. 29, 2012 -- /PRNewswire/ -- Britannia Mining Plc, a UK based mining development company [recently merged with U.S. based Micron Enviro Systems (Symbol: MSVS) – pending shareholder ratification] announced today, that Britannia Mining was invited to the Malawi High Commission in London "

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Mozambique: U.S.$ 1.2 Billion Dollars of Projects Approved for Nacala

allAfrica.com: Mozambique: U.S.$ 1.2 Billion Dollars of Projects Approved for Nacala: "Mozambique: U.S.$ 1.2 Billion Dollars of Projects Approved for Nacala
Maputo — The Mozambican authorities have approved private sector projects budgeted at 1.2 billion US dollars to be implemented in the Nacala Corridor, in the north of the country, according to Danilo Nala, general director of the Office for the Accelerated Development Economic Zones (GAZEDA), cited in Wednesday’s issue of the Maputo daily “Noticias”.

Repair work on Nampula/Cuamba road in Mozambique finished within expected deadline | Macauhub English

Repair work on Nampula/Cuamba road in Mozambique finished within expected deadline | Macauhub English: "Repair work on Nampula/Cuamba road in Mozambique finished within expected deadline
NOVEMBER 16TH, 2012   NEWS
Work to repair and lay asphalt on the Nampula-Cuamba road, along a section of 348 kilometres that is part of the Nacala Development Corridor, is due to be finished within the expected deadline and be delivered in 2014, said the Mozambican deputy minister for Public Works and Housing."

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Malawi Changes Tobacco-Selling System to Move Away From Auctions - Bloomberg

Malawi Changes Tobacco-Selling System to Move Away From Auctions - Bloomberg: "Malawi Changes Tobacco-Selling System to Move Away From Auctions
By Frank Jomo - Nov 16, 2012 2:12 PM GMT

Malawi, the world’s largest grower of burley tobacco, is changing its system for selling the leaves to move away from the auction method now used to dispose of the entire crop.
The so-called Integrated Production System will enable farmers in the southern African nation to agree to grow the leaves for specific customers, according to a statement yesterday from the country’s Tobacco Control Commission. The government aims to carry out 80 percent of sales through the new system and the rest via auctions, the statement showed."

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Malawi, IMF agree new reform policies

Malawi, IMF agree new reform policies: "Malawi, IMF agree new reform policies
FRIDAY, 16 NOVEMBER 2012 10:29 GABRIEL KAMLOMO AND THOM KHANJE
The International Monetary Fund (IMF) has said its mission that was in Malawi over the past two weeks has reached staff-level understandings with the Malawi government on policies for completing of the first review of its programme with the country.

The new policies include the scope of tightening monetary and fiscal policies to stabilise the exchange rate and contain inflation, IMF Mission Chief for Malawi Tsidi Tsikata told a press briefing in Lilongwe on Thursday"

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Air Malawi placed under liquidation

Air Malawi placed under liquidation: "Air Malawi placed under liquidation
FRIDAY, 16 NOVEMBER 2012 09:58 TAONGA SABOLA

Government has placed the highly indebted national flag carrier, Air Malawi Limited, under voluntary liquidation and will instead establish a new company called Air Malawi (2012) Limited in which a strategic partner will be sought for co-investment into its operations."

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Malawi revises down growth forecast again

Malawi revises down growth forecast again: "Malawi revises down growth forecast again
THURSDAY, 08 NOVEMBER 2012 09:06 THOM KHANJE

PREV1 of 2 NEXT
The Ministry of Finance has once again revised downwards the 2012 economic growth outlook for the country to 1.4 percent, a few weeks after the Reserve Bank of Malawi (RBM) brought down the growth prospect to 1.6 percent from the earlier official estimate of 4.3 percent."

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Countries discuss uranium movement

Countries discuss uranium movement: "Countries discuss uranium movement
THURSDAY, 08 NOVEMBER 2012 09:06 KINGSLEY JASSI
Malawi alongside other Sadc countries such as Zambia and Namibia are planning to harmonise regulations on uranium transportation in order to ease hurdles when transporting the yellow cake.

This was disclosed by the Director of Environmental Affairs in the Ministry of Environment and Climate Change, Aloysius Kamperewera, in Lilongwe on Monday when he opened a three-day State Systems of Accounting for and Control of Nuclear Material Workshop organised by the International Atomic Energy Agency (IAEA)."

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BP Mozambique spends US$7 million on renovation of Nacala fuel terminal | Macauhub English

BP Mozambique spends US$7 million on renovation of Nacala fuel terminal | Macauhub English: "BP Mozambique spends US$7 million on renovation of Nacala fuel terminal
OCTOBER 15TH, 2012   NEWS
BP Mozambique has invested over US$7 million on the Nacala fuel terminal, in Nampula province, said the Mozambican subsidiary of the BP group in a statement issued Sunday."

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Our Comment - 2

The exoected complete refurbishing of the Liwonde-Nacala connection will be  a significant event for the Malawi economy. The immediate effect will be it will lower the cost of Malawi exports and imports by 40 per cent. This will in turn significantly contribute to the improvement of Malawi´s competitivity. But this will not happen automatically. The government will have to be proactive in addressing problems of production.

There are three things that are a major constraint on Malawi’s exports.

The first is the low level of production of exportables.  Other than a limited number of agriculture products we have no industrial base for increased export of manufactured or processed  goods- This is partly related two other factors that the government must address: lack of skills and poor infrastructure. On skills, we need to dramatically improve the quality of education and training at all levels and expand the intake of institutions of secondary and tertiary education. We have wasted too much time argueing about sharing the little we have-the quota system debate.

As for infrastructure, the most obvious one is electricity. We have three projects that can radically improve our position. The first is the Cabora Bassa interconnectivity. We need to speed up this project. The second is the thermal plant to be built by a Chinese company. The final one is the Millennium Challenge Fund project to completely revamp the national power grid. The government should indicate to its partners that this is urgent and urged to push themselves further in effectuate the projects.

The final problem is domestic road network. Although Malawi is not the worst placed among landlocked countries it has high transport costs for its goods. A significant share of these costs is domestic because of the poor road network to centers of production of agricultural produce.  If we are to benefit from Nacala we must improve the road network within Malawi to reach rural producers everywhere. 

Malawi to cut freight costs by 40% with redone Nacala

Malawi to cut freight costs by 40% with redone Nacala: "Malawi to cut freight costs by 40% with redone Nacala
MONDAY, 05 NOVEMBER 2012 08:56 CAROLINE KANDIERO

Malawi is set to reduce its international freight costs by about 40 percent once the rehabilitation phase of the Nacala Railway line under the deal with Brazil's Vale Mining Company is completed in February next year, Minister of Transport and public Infrastructure Sidik Mia has said"

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Society IMF pledges continued support to bail out Malawi

Society IMF pledges continued support to bail out Malawi:

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Malawi’s Kanyika Niobium Mine awaits board’s nod to proceed | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi

Malawi’s Kanyika Niobium Mine awaits board’s nod to proceed | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi: "Malawi’s Kanyika Niobium Mine awaits board’s nod to proceed
By Collins Mtika, Nyasa Times
The fate of the much awaited Kanyika Niobium Project in Mzimba district northernMalawi lies in the hands of the board of directors of the parent company  Globe Metals and Mining  which will meet in February 2013 to review the project after five years of ground work.



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Exploring rare earth in Malawi - Interview with Global Metal Acting Chief

Exploring rare earth in Malawi: "Exploring rare earth in Malawi
WEDNESDAY, 24 OCTOBER 2012 00:00 CAROLINE KANDIERO

In this interview the Business Times' CAROLINE KANDIERO talks with Globe Metals Mining Acting Chief Executive Officer, Fergus Jockel on the viability of Kanyika Niobium Project, the benefits it will bring to the country and other issues."

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AfricaNews - Malawi:Beautiful destination with limping tourism - The AfricaNews articles of FRAZER POTANI

AfricaNews - Malawi:Beautiful destination with limping tourism - The AfricaNews articles of FRAZER POTANI: "Malawi:Beautiful destination with limping tourism
Posted on Monday 1 October 2012 - 06:32
Frazer Potani, AfricaNews reporter inLilongwe, Malawi
A stout French-Canadian, Dominique Blanchard, 41, is on leave and decides visiting Malawi after being tipped by a friend at home [Canada] who had visited Malawi earlier that this southern African nation is rich in tourist attraction centres and heritage. Blanchard, a social scientist then decides to travel from his home town of Quebec situated about 480 Km from one of Canada's big cities, Montreal through connection flights to visit Malawi to explore the southern African state's beautiful sceneries and social heritage."

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Paladin looks at process optimisation to increase output

Paladin looks at process optimisation to increase output: "By: Esmarie Swanepoel
16th October 2012
TEXT SIZE
PERTH (miningweekly.com) - Dual listed uranium miner Paladin Energy on Tuesday said that it expected early gains from two new treatment processes at its operations.

In its quarterly report for the three months ended September, the miner noted that following both the Langer Heinrich operation, in Namibia, and the Kayelekera operation, in Malawi, reaching nameplate capacity, the sites were now entering a period of optimisation that could lead to improved process recoveries and reduced operating costs."

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Globe Provides Kanyika Niobium Project Update

Globe Provides Kanyika Niobium Project Update - COMPANY RELEASES - Mineweb.com Mineweb: "Globe Provides Kanyika Niobium Project Update
Wednesday , 17 Oct 2012 Globe Metals & Mining
Globe Metals & Mining ("Globe" or "the Company"; ASX: GBE) is pleased to announce the following update on activity at the Kanyika Niobium Project  (KNP) in Malawi. The Company has now received approximately 50% of the infill drilling results from the 15,000m KNP drilling program undertaken in 2012 and has made significant progress on a number of other activities required to complete the Definitive Feasibility Study (DFS) already underway."

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Malawi set to host IMF chief Christine Largade | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi

Malawi set to host IMF chief Christine Largade | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi: "Malawi set to host IMF chief Christine Largade
October 17, 2012   ·   2 Comments

International Monetary Fund (IMF) Managing Director Christine Largade is set to visit  Malawi in January

Mineral experts caution on poor governance, corruption

Mineral experts caution on poor governance, corruption: "Mineral experts caution on poor governance, corruption

International Rare Earth experts who are in the country under Mkango Resources Limited have said economic gains can only be realised if government tightens its belt on governance and corruption"

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Malawi to cut 2012 growth forecast-finance minister | Reuters

Malawi to cut 2012 growth forecast-finance minister | Reuters: "Malawi to cut 2012 growth forecast-finance minister

LILONGWE | Wed Oct 3, 2012 11:26am EDT
Oct 3 (Reuters) - Malawi will cut its forecast for economic growth of 4.3 percent this year due to contraction in some major sectors, Finance Minister Ken Lipenga said on Wednesday."

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The Government of Malawi & TNI BioTech, Inc. Sign Agreement to Open an Oncology & Infectious Disease Clinic at Queen Elizabeth Central Hospital

The Government of Malawi & TNI BioTech, Inc. Sign Agreement to Open an Oncology & Infectious Disease Clinic at Queen Elizabeth Central Hospital:

"The Government of Malawi & TNI
The Government of Malawi & TNI BioTech, Inc. Sign Agreement to Open an Oncology & Infectious Disease Clinic at Queen Elizabeth Central Hospital
http://media.marketwire.com/attachments/201209/TN-51550_image.jpgPresident Banda & Dr. Gloria Herndon, President of GBOIG, sign agreement for cancer & infectious disease center.http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=935199&ProfileId=051205&sourceType=1
NEW YORK, NY -- (Marketwire) -- 09/26/12 -- Her Excellency, Mrs. Joyce Banda, the President of the Republic of Malawi, announced today that an agreement has been reached to open an outpatient's clinic at Queen Elizabeth Central Hospital for the treatment of cancer and infectious diseases with US-based biotech firms TNI BioTech, Inc. (TNIB) (PINKSHEETS: TNIB) and GB Oncology & Imaging Group LLC (GBOIG)."

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Malawi seeks feasibility study of 175-MW Fufu - HydroWorld

Malawi seeks feasibility study of 175-MW Fufu - HydroWorld: "Malawi seeks feasibility study of 175-MW

Malawi's energy ministry invites expressions of interest from consultants to perform a feasibility study of the 100- to 175-MW Fufu hydroelectric project on the South Rukuru River. Responses are due October 16.
The government received a grant and credit from the World Bank's International Development Association to finance the Energy Sector Support Project. A portion of the funding is to be used for the hydro project study."

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Malawi to construct 1,000 new houses with Chinese investor– Phoya | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi

Malawi to construct 1,000 new houses with Chinese investor– Phoya | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi: "Malawi to construct 1,000 new houses with Chinese investor– Phoya
By Nyasa Times/ Malawi News Agency

September 25, 2012   ·   5 Comments
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Minister of Lands and Housing Henry Phoya has disclosed that Malawi Housing Corporation (MHC) will construct more than 1,000 housing units as one way of ensuring easy access and affordable houses in urban areas."

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No prosecution of money launders

No prosecution of money launders: "No prosecution of money launders
TUESDAY, 25 SEPTEMBER 2012 11:23 KINGSLEY JASSI

JOOMA-RESULTS OF THE EXERCISE WILL INFORM GOVERNMENT
Five years after the enactment of an anti-money laundering legislation in Malawi, the country is yet to prosecute even a single person on anti-money laundering charges, the Financial Intelligence Unit (FIU) has disclosed.

Meanwhile, the FIU has convened a workshop in Mangochi where stakeholders are undertaking money laundering risk assessment exercise that would establish the country's weak areas amid efforts to combat the vice"

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Mkango Resources: Songwe's maiden rare earth resource due 'in next few weeks' - Proactiveinvestors (AU)

Mkango Resources: Songwe's maiden rare earth resource due 'in next few weeks' - Proactiveinvestors (AU): "Mkango Resources: Songwe's maiden rare earth resource due 'in next few weeks'
Wednesday, September 05, 2012 by Jamie Ashcroft
Mkango Resources (CVE:MKA) has told investors to expect a maiden resource estimate for the Songwe Hill project in ‘the next few weeks’.
Today it said that the second phase of drilling is now complete at the rare earth exploration project in Malawi.
The highlight results revealed this morning had intersections with mineralised lengths between 13.2 and 165.8 metres, with grades ranging from 1.1 to 3 per cent total rare earth oxides."

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News Item : Paladin well placed to meet supply shortage

News Item : Paladin well placed to meet supply shortage: "Paladin well placed to meet supply shortage September 07, 2012 11:45 AM


Transcription of Finance News Network Interview with Paladin Energy Limited (ASX:PDN) CEO, John Borshoff"

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Southern Times-Malawi Moza energy deal stalls

Southern Times-Malawi Moza energy deal stalls: "Malawi, Moza energy deal stalls


Maputo – The World Bank says a Malawi-Mozambique power interconnection project is in limbo despite government officials from both countries stating otherwise.

The World Bank had earlier committed to extend a US$93 million credit facility for the interconnector"

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600 Thousand People Targeted in Public Works Programme

600 Thousand People Targeted in Public Works Programme: "600 Thousand People Targeted in Public Works Programme



Close to 600 thousand people are to benefit from this year’s Public Works Programme, a government initiative which aims at financing poor families to meet their needs in lean months."

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Malawian power imports from Mozambique expected to take several years to become a reality | Macauhub English

Malawian power imports from Mozambique expected to take several years to become a reality | Macauhub English: "Malawian power imports from Mozambique expected to take several years to become a reality
SEPTEMBER 10TH, 2012   NEWS
The power line between Mozambique and Malawi starting at the Cahora Bassa Hydroelectric dam (HCB) in Tete province, is expected to take a few years to become a reality, Mozambique’s Energy Minister, Salvador Namburete said last week in Maputo."

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Mkango Resources Intersects Further Extensive Zones of REE Mineralisation at Songwe and Commences Estimation of NI 43-101 Compliant Mineral Resource - Energy Digital

Mkango Resources Intersects Further Extensive Zones of REE Mineralisation at Songwe and Commences Estimation of NI 43-101 Compliant Mineral Resource - Energy Digital: "Mkango Resources Intersects Further Extensive Zones of REE Mineralisation at Songwe and Commences Estimation of NI 43-101 Compliant Mineral Resource"

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DailyNews Online Edition - Precision air to fly to Harare

DailyNews Online Edition - Precision air to fly to Harare:

Tanzania;s Precision will begin flying through Blantyre by end of this year

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Business

Business: "Nkula B repairs: 3 months of prolonged power outages
30 AUGUST 2012 CAROLINE KANDIERO

NKULA POWER STATION UNDER MAINTENCE
Malawians should brace themselves for frequent and prolonged power interruptions as the Electricity Supply Corporation of Malawi (Escom) implements an intensive load-shedding programme over the next three months."

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Paladin books $US173m loss in FY2012 | WA Business News

Paladin books $US173m loss in FY2012 | WA Business News: "Paladin books $US173m loss in FY2012
Dan Wilkie30-Aug-2012
Category: ResourcesUranium
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Paladin Energy boss John Borshoff.
Uranium miner Paladin Energy says it is looking forward to a year free of construction and commissioning activities after lodging a net loss of $US172.8 million for the 12 months to June 30.

Paladin said the loss, which was up from $82.3 million in FY2011, was mainly due to a $US133 million write-down in the value of the company’s Kayelekera mine in the September quarter, 2011."

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Paladin can control costs - The West Australian

Paladin can control costs - The West Australian: "Paladin can control costs
Nick Sas, The West Australian
August 31, 2012, 7:20 am
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Paladin's Langer Heinrich project in Namibia.
Perth-based uranium miner Paladin Energy believes it can control costs this financial year, after doubling its full-year loss to $US172 million ($166.5 million) to June 30.

In a statement to the ASX, managing director John Borshoff said in the coming year Paladin would finally operate without "distracting construction and commissioning activities"."

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Paladin CEO Rick Crabb bullish on uranium prospects | The Australian

Paladin CEO Rick Crabb bullish on uranium prospects | The Australian: "Paladin CEO Rick Crabb bullish on uranium prospects
BY: MATT CHAMBERS August 31, 2012 11:19AM
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URANIUM miner Paladin Energy doubled its full-year loss because of writedowns on the back of sliding uranium prices after Japan's Fukushima nuclear disaster.

The Perth-based, Africa-focussed uranium miner today reported a full-year net loss of $US172 million ($US167.2m), compared to an $US82m loss in 2010-11."

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Paladin’s Kayelekera uranium mine delivers record production | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi

Paladin’s Kayelekera uranium mine delivers record production | Malawi news, Malawi - NyasaTimes breaking online news source from Malawi: "Paladin’s Kayelekera uranium mine delivers record production
By Lucky Mkandawire, Nyasa Times

August 30, 2012   ·   2 Comments
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With a few more months to go before the year winds up, Paladin Energy Limited says the year has been a milestone for its Kayelekera Uranium Mine in Karonga in terms of production."

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Tete-Nacala railroad is best solution for transporting coal in Mozambique, director of Vale Moçambique says | Macauhub English

Tete-Nacala railroad is best solution for transporting coal in Mozambique, director of Vale Moçambique says | Macauhub English: "Tete-Nacala railroad is best solution for transporting coal in Mozambique, director of Vale Moçambique says
AUGUST 31ST, 2012   NEWS
The Tete-Nacala railroad, passing through Malawi, is the most appropriate solution to carry coal mined in Moatize, said the managing director of Vale Moçambique, a subsidiary of Brazilian mining giant vale, Ricardo Saad in Maputo Thursday"

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China to build $500 mln, 1,000 MW plant in Malawi

China Gezhouba Group Corp plans to build a $500 million, 1,000 megawatts thermal plant in Malawi, which suffers from frequent power shortages, the minister of energy and mining said on Thursday

Malawi’s cotton ban slows Chipata-Mchinji rail use

By Andrew Lungu -

THE move by the Malawian Government to ban importation of cotton from Zambia has led to less usage of the Chipata-Mchinji rail line.
This came to light when a team of Zambian journalists led by Malawian High Commissioner to Zambia Davide Banda toured the rail line last week during commemoration of the Southern African Development Community (SADC) Day.
Central and East African Rail (CEAR) civil engineer Paul Madula said the project had recorded less activities on the Malawian side from the time the Malawian Government last year banned the importation of cotton from Zambia.

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Gold Canyon announces Phase ii of Mulanje Rare Earth Project

Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINKSHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce Phase II work has begun at its Chambe Basin rare earth elements (REE) project in Malawi, Africa. The Chambe Basin REE Project, covered by a 400 sq km prospecting license, is being explored through a Project Venture Agreement (PVA) between Gold Canyon (33%) and partner, Japan Oil, Gas and Metals National Corporation (JOGMEC; 67%), and belongs to the Company's wholly owned joint venture subsidiary, Spring Stone Limited, a Malawi Corporation. Mitsui Mineral Development Engineering Co., Ltd (MINDECO) of Japan is the contract operator of the program
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Sovereign Metals buys graphite project in Malawi

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 - The share price of ASX-listed Sovereign Metals spiked 60% on Tuesday on news that the company would acquire McCourt Mining, which holds the Central Malawi graphite project, in Malawi, in cash and shares.

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Dhunseri acquires tea estates in Malawi

Kolkata, July 28 (IANS) Kolkata-based Dhunseri Petrochem & Tea Limited (DPTL) has acquired tea estates in f Malawi, the company said in a regulatory filing.

The company was in discussions with third parties to acquire tea estates overseas.

DPTL, through its wholly-owned subsidiary Dhunseri Petrochem and Tea Pvt Ltd, has agreed to buy out 100 percent share capital of Makandi Tea and Coffee Estates Ltd and Kawalazi Estate Company Ltd from London-based Global Tea and Commodities Ltd by executing a share purchase agreement (SPA), the company informed Bombay Stock Exchange (BSE) Friday.

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Paladin Energy turns the corner

By: The following article is reprinted with permission from CMJ's sister publication The Northern Miner.

2012-07-18

---

Despite two months of unplanned shutdowns to upgrade the plant and complete remediation work due to land movement at its Kayelekera open pit uranium mine in Malawi, Paladin Energy still managed to increase production there by 14% in the fiscal year ended June 30, at the same time the junior boosted production 25% year-on-year at its Langer Heinrich open pit mine in Namibia.

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Moatize-Nacala railway will carry passengers

Maputo, Mozambique --- 17 July 2012 - The future railway linking the Moatize coal region in Mozambique’s Tete province to the port of Nacala in Nampula province, will also provide facilities to cater for passengers, as well as miscellaneous cargo.

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Globe secures funding for Kenyika

 

PERTH (miningweekly.com) - ASX-listed Globe Metals & Mining has received a letter of intent (LOI) from the China Development Bank to provide a credit facility to Globe to finance its $220-million Kanyika niobium project, in Malawi.

TO READ MORE CLICK HERE

Malawi central bank raises benchmark rate to 21 pct

BLANTYRE (Reuters) - Malawi's central bank has raised its benchmark interest rate to 21 percent from 16 percent, trying to put the economy on a more stable footing after a sharp devaluation of its kwacha currency.

TO READ MORE CLICK HERE

Mkango Resources reports positive drill results from Songwe rare earth project

The Mkango Resources company today unveiled the results for a further five holes drilled as part of the Stage 2 programme at Songwe.has continued to intersect broad zones of rare earth mineralisation at its Songwe project in Malawi. All of these holes have intersected zones of broad mineralisation from near surface including zones of elevated heavy rare earth enrichment with the company noting that the consistency of results to date is “very encouraging”.

TO READ MORE CLICK HERE

NuEnergy wins Malawi licence

Australia-listed NuEnergy Gas has been awarded a prospecting licence over a 34,600 hectare block in Malawi by the nation’s government, the company has announced.

NuEnergy will search for coal bed methane and shale gas in licence EPL0360/12, located in the nation’s south, over a period of three years, the company told the Australian Securities Exchange.

TO READ MORE CLICK HERE

Broking firm Marsh buys Malawi operations

GLOBAL broking and risk management company Marsh has bought Alexander Forbes Risk Services’ operations in Malawi for an undisclosed amount.

Providers of risk and insurance solutions are trawling sub-Saharan Africa for opportunities in response to the wave of investor interTO READMORE CLICK HEREest in the region, lured by the high growth rates of more than 7% in some countries in the region.

Globe Metals & Mining Acquire Advanced Graphite Asset in Malawi

Wednesday , 04 Jul 2012 Globe Metals & Mining 

Globe Metals and Mining ("Globe" or the "Company"; ASX: GBE) is delighted to announce that it has entered into an agreement to acquire the Chiziro Project, an advanced graphite project in Malawi

To read more Click Here

Mozambique moves ahead on rail construction

Maputo, Mozambique --- 06 July 2012 - In another move towards improving transport infrastructure for the steadily growing mining industry of Mozambique, the government has awarded the concession for construction of  the Moatize/Malawi railway and the Nacala-a-Velha branch line to the Integrated Northern Logistics Corridor (CLIN).

TO READ MORE CLICK HERE

Malawi passes K408 billion budget, paving way for donor funds

Malawi's parliament passed a vital national budget on Wednesday needed to unleash more funding from the International Monetary Fund and other donors

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Mozambique: Government Seeks Funding for Nacala Deep Water Port

22 JUNE 2012

Maputo — The Mozambican government is seeking a 1.5 billion US dollar loan from China for the construction of a deep water port in the district of Nacala-a-Velha, in the northern province of Nampula.

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Malawi inflation hits seven-year high in May

Tue Jun 19, 2012 10:13am GMT

JOHANNESBURG, June 19 (Reuters) - Consumer prices in Malawi jumped to a seven-year high in May as fuel and electricity costs shot up after the kwacha currency was devalued by more than 30 percent in early May.



The National Statistics Office said headline inflation accelerated to 17.3 percent year-on-year in May from 12.4 percent in April.



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Malawi's donors pledge nearly $500 mln in budget aid

Fri Jun 15, 2012 2:00pm GMT

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1 of 1Full SizeBy Mabvuto Banda

LILONGWE (Reuters) - Malawi's donors have pledged $496 million in budget support for the 2012/13 financial year, more than double pledges for the previous year's budget, Finance Minister Ken Lipenga said on Friday.



Malawi's economy had been teetering on the brink of collapse after former President Bingu wa Mutharika picked a fight with donors whose support usually accounted for about 40 percent of the budget.

Aid Pledge Hit Billion Mark

Donor	Amount	Column1
world bank	150,000,000
IMF	157,000,000
MCC	350,000,000
UK	90,000,000
EU	100,000,000	(estimated)
African Development Bank	40,000,000
South Africa	35,000,000
World Bank	125,000,000	Shire Valley Project
Total	1,047,000,000
Other Expected Nordic, US Aid, Germany

Lynas set to walk from Malawi project

Australia's only rare earths miner, Lynas Corp, has signalled it may walk away from the African project at the centre of a legal battle.

The trigger for Lynas' change of heart is the latest twist in a Malawi High Court saga that relates to its ownership of the Kangankunde rare earths project.

Lynas' flagship development is its Mount Weld rare earths mine in WA near Laverton but Kangankunde had been slated as a future growth project.

TO READ MORE

Funds raised by Joyce So far

Donor	Amount	Column1
world bank	150,000,000
IMF	157,000,000
MCC	350,000,000
UK	57,000,000
EU	100,000,000	(estimated)
African Development Bank	40,000,000
South Africa	35,000,000
Total	889,000,000
Other Expected Nordic, US Aid, Germany

Malawi’s dramatic turn of events: Enough to lift MCC suspension? | www.malawitoday.com

Malawi’s dramatic turn of events: Enough to lift MCC suspension? | www.malawitoday.com: "Malawi’s dramatic turn of events: Enough to lift MCC suspension?
12 June 2012 By Sarah Jane Staats CENTER FOR GLOBAL DEVELOPMENT

The Millennium Challenge Corporation (MCC) board of directors suspended Malawi’s $350 million compact in March. Fast forward three months: Malawi has a new president—Joyce Banda—who is moving quickly to improve the country’s governance and economy. The MCC’s June board meeting was expected to be about terminating Malawi’s compact; instead, it will be about whether to lift the compact suspension. And Banda will be in Washington this weekend to make her case to the MCC and other parts of the U.S. government. My view: signals are positive, but the MCC should be patient."

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The World Bank pledges US$150 million to Malawi | www.malawitoday.com

The World Bank pledges US$150 million to Malawi | www.malawitoday.com: "he World Bank pledges US$150 million to Malawi
13 June 2012 CAPITAL RADIO

The World Bank is expected to release 150 million US dollars to cushion the shock facing Malawians following the devaluation of the Kwacha by 48.18 percent.

The Bank’s managing director Sri Mulyani Indrawati disclosed this after meeting President Joyce Banda in Washington DC."

Mkango Resources' latest drilling backs up earlier grades - Proactiveinvestors (AU)

Mkango Resources' latest drilling backs up earlier grades - Proactiveinvestors (AU):

Rare earths explorer Mkango Resources (CVE:MKA) says the most recent results from drilling its Songwe Hill project in Malawi have confirmed the earlier grades.
The results, for a further seven holes of the Stage 2 drilling programme, included one of 42.3m that graded 2.1 per cent total rare earth oxides (TREO), one of 39.1 m grading 1.9 per cent TREO and 47.3 m grading 2.2 per cent TREO."

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Malawi to receive $157 mn IMF loan

BLANTYRE — Malawi is set for a $157-million (125-million euro) three-year IMF loan to fix its troubled economy which has been hit by global aid suspensions, the International Monetary Fund said on Wednesday.

Malawi Lifts Lending Rate as Costs Rise After Devaluation

.Malawi’s central bank raised its benchmark interest rate 3 percentage points to 16 percent, days after devaluing its currency by a third to meet conditions set by the International Monetary Fund and unblock aid flows.

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Malawi hikes 2012 inflation forecast to 15 pct

Wed May 16, 2012 3:53pm GMT


LILONGWE May 16 (Reuters) - Malawi raised its 2012 inflation forecast on Wednesday to 15 percent from a previously projected 6 percent due to the effects of a sharp currency devaluation last week.



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Gold deposits found in Malawi

Lilongwe – Preliminary investigations of gold deposits in central Malawi have identified three targets that contain anomalous values of the precious metal. The exploration undertaken by South East Africa Mining Exploration (SEAMEX) carried out the study involving systematic stream sediments sampling and geological observation in the central tobacco growing district of Kasungu where they found five water courses and identified the three targets south of Dwangwa River to carry gold values.

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Malawi Devalues Kwacha

Malawi has finally devalued the kwacha in anticipation for an IMF Mission next week

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Malawi delegation to IMF,World Bank hopeful

There appears a ray of hope at the end of the tunnel as the Malawi delegation to the International Monitory Fund (IMF) and World Bank spring meetings led by Finance Minister Ken Lipenga has expressed optimism about reclaiming donor confidence. The delegation was accorded a warm reception on Friday i…

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AfDB to finance reforms in Malawi

AfDB to finance reforms in Malawi

MONDAY, 23 APRIL 2012 08:48 REUTERS

The head of the African Development Bank said on Sunday he is willing to provide $45 million in budget financing for Malawi to help new President Joyce Banda revive the struggling economy.

Speaking after meetings of the International Monetary Fund and World Bank in Washington, African Development Bank President Donald Kaberuka told Reuters he was determined to support Malawi as it tries to resume economic reforms.TO READ MORE