Malawians burderned as Kwacha sinks lower | Business World News 2015-12-23

Malawians burderned as Kwacha sinks lower | Business World News 2015-12-23: "The weak grip of the Malawi kwacha on the U.S. dollar is weighing heavily on Malawians who are expected to pay more for their daily needs during and after the festive season. "



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Malawi’s revised budget awaits cabinet, IMF recommended downward review | The Times Group

Malawi’s revised budget awaits cabinet, IMF recommended downward review | The Times Group: "Malawi’s Finance ministry has completed revising the budget which now awaits cabinet approval before it is introduced in Parliament during its mid-term budget review meeting early next year."



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Paladin denies Malawi mine sale - The West Australian

Paladin denies Malawi mine sale - The West Australian: "UPDATE 1.40pm: Paladin Energy has been forced to deny a report that appeared in Malawan media that it had sold all or part of its Kayelekera Mine in Malawi.

The report appeared in The Daily Times (Malawi) yesterday.

“The article incorrectly asserts Paladin has sold all or part of its 85 per cent interest in Kayelekera mine to China National Nuclear Corporation,” the company said in a statement."



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LafargeHolcim and CDC Group to scale-up an affordable low-carbon construction solution - Cement industry news from Global Cement

LafargeHolcim and CDC Group to scale-up an affordable low-carbon construction solution - Cement industry news from Global Cement: "Malawi: LafargeHolcim and CDC Group, the UK's development finance institution, have signed a Memorandum of Understanding to set up a company to produce and promote an affordable low-carbon construction solution for developing countries.

The new company aims to scale up production of earth-cement bricks, a simple, reliable, affordable and environmentally-friendly building material that was launched by LafargeHolcim in Malawi in 2013."



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Malawi Ready For Oil, Gas Exploration; Mutharika Makes Strong Case For Africa | Malawi Voice

Malawi Ready For Oil, Gas Exploration; Mutharika Makes Strong Case For Africa | Malawi Voice: "After stagnating as an agro-based economy for many decades, Malawi is now ready to kick-start large-scale extractive industry which has oil and gas as some of the main deposits. The good news was relayed to global investors by Malawi President, Peter Mutharika, during his address to The Global African Investment Summit held in London recently."



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Peter Mutharika approves toll gates, other reforms | The Times Group

Peter Mutharika approves toll gates, other reforms | The Times Group: "President Peter Mutharika has approved a set of reforms in the road sector which includes the introduction of toll gates and an automated fuel levy adjustment system. Other reforms approved include the introduction of a Roads Fund Bond to help raise financing for road sector development projects from the market as well as introduction of an Automate Payment System for settling of debts with contractors by the Roads Fund Administration (RFA)."



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Paladin sells off Kayerekera Mine

Paladin sells off Kayerekera Mine | The Times Group: "The Australian mining consortium, Paladin Energy Limited, which was given a 10-year-tax holiday after investing US$620 million in Kayerekera Uranium Mine in Karonga, has sold off the mine to a Chinese firm."



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Malawi greatly improved off bold reforms, says IMF

Malawi greatly improved off bold reforms, says IMF | CPI Financial | CPI Financial News | Banking and Financial News,Islamic Business and Finance, Commercial Banking: "In a statement the IMF noted that bold economic reforms undertaken in mid-2012, namely the devaluation of the currency, the adoption of a floating exchange rate regime, the liberalisation of foreign exchange markets, and the introduction of an automatic fuel price adjustment mechanism transformed the policy environment and greatly improved the outlook of the economy."



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New Limbe-Mkaya Railway due March 2016

New Limbe-Mkaya Railway due March 2016: "Rehabilitation work underway on the Limbe-Mkaya railway Rehabilitation of the railway line from Limbe to Mkaya is expected to be complete by March 2016, a development which is likely to help reduce the transit time for passengers and goods between the two ends. Chisomo Mwamadi, spokesperson for the Central East African Railways (CEAR), which is overseeing the rehabilitation, told Zodiak Online the completion deadline which was December 2015 has been shifted to March 2016 due to some challenges"



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Kwacha depreciation hits 28.5%, worse than last year | The Times Group

Kwacha depreciation hits 28.5%, worse than last year | The Times Group: "Malawi Kwacha has depreciated by 28.5 percent compared to a 14.5 annual depreciation rate recorded during the same period last year. And according to a report released by advisory firm, Nico Asset Managers, the local unit will continue to depreciate as the lean season advances. As at November 30, 2015, Authorized Dealer Banks were trading the kwacha at K604. 84 to the dollar but as at close of business on Wednesday, the kwacha was on average trading at K627 in exchange for the dollar."



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Tobacco buyers for contract growing and marketing in Malawi | The Times Group

Tobacco buyers for contract growing and marketing in Malawi | The Times Group: "Just a few days after JTI Leaf Malawi declared its preference for contract tobacco growers, other tobacco buying and processing companies under a grouping called Tobacco Processors Association (TPA) have come out in the open to announce their leaning towards contract tobacco growing and marketing in Malawi."



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Mkango Mining plots London listing to speed rare earth exploration | Digitallook.com

Mkango Mining plots London listing to speed rare earth exploration | Digitallook.com: "Mkango Resources, a Toronto-listed rare earth explorer led by former Rio Tinto geologist Will Dawes, has applied to float on London's AIM in January. The Calgary-based company and its broker and nominated adviser SP Angel Corporate Finance are currently finalising the details of a small fundraising alongside its secondary listing, having in October raised CAD1.13m in a private placing."



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IMF mission team in early 2016, to review Malawi’s ECF performance | The Times Group

IMF mission team in early 2016, to review Malawi’s ECF performance | The Times Group: "An International Monitory Fund’s (IMF) mission team is expected in Malawi within the first quarter of 2016 to review the country’s economic trends and evaluate its performance in line with the Extended Credit Facility (ECF) programme.

The team will determine Malawi’s fate on whether to resume the US$150 million ECF programme with the fund which was declared off-track in September following the government’s failure to meet agreed targets."



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Malawi: Economic Developments 2015 | Afribiz.info

Malawi: Economic Developments 2015 | Afribiz.info: "Malawi’s economy continued to recover from the contraction in GDP experienced in 2012 as a result of slippage in macro-economic policies and withdrawal of budgetary support by development partners (DPs) over governance concerns, which precipitated an acute shortage of foreign exchange and fuel, crippling the economy. In 2014, the country’s economy is estimated to have grown by 5.7%, supported by strong expansion in agricultural and manufacturing output, construction, wholesale and retail trade, and services."



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Future of Kayerekera Uranium Mine Still Bleak

Future of Kayerekera Uranium Mine Still Bleak: "Uncertainty remains over the re-opening of the Kayerekera Uranium Mine in the North-west of Karonga district, Northern Malawi.
The mine, placed under care and maintenance in February 2014, has had its future on a stand still, due to continued poor external macro-economic conditions on the global uranium market, according to Paladin Africa Ltd.
In a recent statement Paladin Africa General Manager for Operations Alan Cumming expresses reservations on how soon mining operations will resume at the once giant mine in southern Africa"



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From London With Solar Energy Deal: Malawi Joins Solar Energy Africa Campaign | Malawi Voice

From London With Solar Energy Deal: Malawi Joins Solar Energy Africa Campaign | Malawi Voice: "A majority of Malawians most of who do not use any form of electricity will soon access the commodity following a Solar Energy Africa Campaign deal that Lilongwe has signed with the UK government at a ceremony held in London on Wednesday this week."



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China, MW sign $600 million Kam’mwamba coal project | Malawi Voice

China, MW sign $600 million Kam’mwamba coal project | Malawi Voice: "The governments of Malawi and People’s Republic of China have signed a $600 Million pact for the Development of the 300 megawatts Kam’mwamba coal fired power plant generation"



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Xi Jinping in Africa: China, Malawi Working on Projects Modalities | Malawi Voice

Xi Jinping in Africa: China, Malawi Working on Projects Modalities | Malawi Voice: "Officials from Malawi Government and China are meeting in South Africa to work on modalities of implementing Chinese funded project"



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APM Visits Buckingham Palace, As Duke Of York Crowns Himself Investment Ambassador For Malawi | Malawi Voice

APM Visits Buckingham Palace, As Duke Of York Crowns Himself Investment Ambassador For Malawi | Malawi Voice: "His Royal Highness the Duke of York Prince Andrew has crowned himself as the investment ambassador for Malawi in a bid to market the country’s investment opportunities to the global village."



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Uranium prices poised to rebound, analyst says - Canadian Mining JournalCanadian Mining Journal

Uranium prices poised to rebound, analyst says - Canadian Mining JournalCanadian Mining Journal: "Prices expected to hit US$80 per lb in 2019, on the back of higher demand from utilities

The uptick in uranium prices is again around the corner, but this time analysts are more confident it should happen to keep the demand and supply in check."



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Presscane to have fertiliser production plant by 2017 | The Times Group

Presscane to have fertiliser production plant by 2017 | The Times Group: "Presscane to have fertiliser production plant by 2017
Posted By: William Kumwembeon: December 04, 2015In: BusinessNo Comments

William Kumwembe – who has written 73 posts on The Times Group.
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Malawian company PRESSCANE Limited has unveiled plans to install a fertiliser manufacturing plant at its ethanol production site in Chikwawa at a cost of US$20 million.

The fertiliser plant is one of the components of a project the company has embarked to increase ethanol production by engaging farmers to grow and sell sugarcane to the ethanol distillery.

Presscane intends to use the ethanol production residues and some molasses for production of fertilisers at the proposed factory.

Presscane operations manager, Bryson Mkomaanthu, said installation works of the plant is planned to start mid next year for completion by end 2017."



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