Govt scales down coal power project - The Nation Online

Govt scales down coal power project - The Nation Online: Govt scales down coal power project Martha Chirambo December 26, 2018 0 Comments Malawi has scaled down the 300 megawatts (MW) Kam’mwamba Coal-Fired electricity generation project in Neno following the financiers’ decision to reduce the loan amount. Beijing, the financier of the project, has asked Lilongwe to reduce the loan amount for the implementation of the coal fired plant project from about $700 million (about K513 100) to around $500 million (about K366 500).

Pessimism on 2019 economic outlook | The Times Group

Pessimism on 2019 economic outlook | The Times Group: Commentators say Malawi’s economic outlook remains mixed and murky with some prevailing macro-economic challenges likely to persist.

The view comes as the World Bank predicted that the local economy would swell by 4.1 percent in 2019, an improvement from an estimated 3.5 percent growth in 2018.

Malawi taps 20 Megawatts into national grid from Zambia - The Maravi Post

Malawi taps 20 Megawatts into national grid from Zambia - The Maravi Post: The Chipata Mchinji 33 KV cross-border power supply line has been switched on.

This means Malawi has added 20 megawatts to its grid, a development which is expected to improve electricity supply in the country.

Mkango rare earths project results now fed into resource programme

Mkango rare earths project results now fed into resource programme: now fed into resource programme
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15:09 10 Dec 2018
Mkango Resources Ltd (LON:MKA, CVE:MKA) tells Proactive London that the final batch of results from the 2018 drill programme, at the Songwe Hill rare earths project in Malawi, has unearthed the highest grades to date. CEO William Dawes explains how those results will now be fed into a resource programme as he looks forward to their technical report unlocking Mkango's next tranche of funding.
Mkango said that the results of the majority of the remaining holes (19 of 21) from the 10,900 metre drill programme saw significant zones of rare earths mineralisation grading above 1% total rare earth oxides (TREO).

Economist  Malawi Growth Forecast (Dec 9 2018)

Economic growth After accelerating to 4% in 2017, on the back of a bumper harvest, economic growth will have slowed to 2.1% in 2018. Farmers had already reduced their maize plantings for the 2017/18 growing season (October-April), as a ban on maize exports caused a glut on the local market and losses on their sales. However, problems have been compounded by pest damage and insufficient rain. As a result, the latest official estimates point to a 28% contraction in maize output in 2017/18. Drought has also affected the production of other key crops, including rice. Assuming a return to more plentiful rainfall, 2019-23 should be stronger years for maize. Plans to expand other cash crops, such as soybeans, tea and sugar, are expected to have some success, helped by the eventual introduction of some pro-market reforms in the agricultural sector, which accounts for nearly 30% of GDP. This will be an important force behind an annual average real growth rate of 4.6% in 2019- 23. However, one major drag on growth will be the tobacco sector; production is set to register little or no growth during the forecast period, as a quota system introduced in 2017 by the Tobacco Control Commission in order to support prices is likely to be retained. In the power sector, frequent load-shedding and outages will remain a problem, even though water levels at dams should improve as the forecast period progresses. Electricity shortages will constrain industrial performance, only partly ameliorated by diesel generators. Rising aid inflows and public capital investment will be important growth-drivers for construction activity as the government seeks to expedite projects that address the country's infrastructure deficit. Growth elsewhere in the industrial sector is, however, expected to remain fairly lacklustre. Coal output will stabilise and improve slightly after recent contractions, but the sector is unlikely to re­emerge as a key driver of growth—particularly given a forecast decline in global prices in 2019-23. Malawi's mines will also struggle to compete with their counterparts in neighbouring countries. Flue­curing for tobacco—another domestic use for coal—will not support growth either, as output of the crop will be stagnant. There is an upside risk that uranium production will resume during the forecast period, but as Malawi is a high-cost operating environment, it is unlikely that international prices will rise sufficiently to justify bringing the country's only mine, Kayelekera, back into operation. 

Dry mangoes factory to boost exports - The Nation Online

Dry mangoes factory to boost exports - The Nation Online: Minister of Industry, Trade and Tourism Francis Kasaila says the commissioning of dry mangoes factory at Malawi Mangoes company in Salima District is set to boost mango exports that will help the country realise foreign exchange and� create jobs. The minister said this when he commissioned the dry mangoes processing factory yesterday in Salima. He applauded the company for considering value-addition approach to mangoes for export which he said is in line with government’s export strategy.

Mkango Resources progresses on rare earths exploration - The Nation Online

Mkango Resources progresses on rare earths exploration - The Nation Online: Mkango Resources Limited, a Canadian-based mineral and exploration company, says it has started the� process to update mineral resource estimate. The exercise follows the completion of the final 21 drill holes from the recently completed 10 900-metre diamond drill programme at the Songwe Hill Rare Earths Project.

Zambia power deal dilemma - The Nation Online

Zambia power deal dilemma - The Nation Online: News that Escom had signed a deal with Zambia to supply power to Malawi came with relief, but Malawians will continue to bear the brunt of persistent power shortage after Escom missed deadline to start tapping power from its western neighbour for the second time due to ‘tests’. As it stands, the development pins the country to the available 200-220 Megawatts (MW) that the Electricity Generation Company (Egenco) is generating

Bank says growth positive but weak - The Nation Online

Bank says growth positive but weak - The Nation Online: Despite making strides economically, the World Bank says Malawi’s current growth is positive but weak compared to the rest of the sub-Saharan Africa region.

In its 8th edition of the Malawi Economic Monitor (MEM) titled Investing in Girls’ Education to be launched today in Lilongwe, the World Bank says Malawi needs to sustain significantly higher rates of growth to improve its development prospects, including through increased investment

Escom in fresh bailout rebuff - The Nation Online

Escom in fresh bailout rebuff - The Nation Online: It never rains but pours for Escom as Treasury has yet again rejected its K58 billion bail-out request to enable the technically insolvent utility improve its operations and provide reliable power supply. Treasury’s fresh rejection of the Electricity Supply Corporation of Malawi (Escom) demand follows a K58 billion request the parastatal made in May this year to improve efficiency. It Escom said it largely found itself in the precarious financial position after its split that gave birth to Electricity Generation Company (Egenco) on January 1 2017 as part of the Power Market Restructuring Programme aimed at improving efficiency in the market by, among others, creating separate power generation and distribution entities to spur investment in independent power producers (IPPs)

Private sector domestic credit surge - The Nation Online

Private sector domestic credit surge - The Nation Online: For eight months running, credit extended to the private sector continued to register positive growth with recent figures from the Reserve Bank of Malawi (RBM)indicating that in September alone, private sector credit grew by K7.7 billion to K447.3 billion.

Comparatively, there was a growth of K1 billion and K19.7 billion in August 2018 and September 2017, respectively

Pact to mitigate risks on energy investments - The Nation Online

Pact to mitigate risks on energy investments - The Nation Online: Investment into the energy sector by the Independent Power Producers (IPPs) is set to increase following a memorandum of understanding (MoU) signed on Friday between government and the African Trade Insurance (ATI) for Regional Liquidity Facility (RLF).

RLF guarantees energy companies’ access to finance to maximise returns on investments

Salima Sugar Factory output to rise by 167% - The Nation Online

Salima Sugar Factory output to rise by 167% - The Nation Online: Salima Sugar Factory output is expected to rise by 167 percent this year thanks to increased sugarcane production both on the company’s field and supplies from smallholder farmers. The figures show that output will increase to 12 000 metric tonnes (MT) from last year’s 4 500MT. The sugar company, whose investment is worth $90 million (about K68 billion), is a public private partnership (PPP)� between Indian investors, owning 60 percent and Malawi Government which owns the remaining 40 percent stake and operates under the Green Belt Authority (GBA).

Our Comment on IMF new agreement

According to the Times,Malawi on Thursday passed the International Monetary Fund (IMF) test as the fund’s executive board approved disbursement of $15.4 million under the Extended Credit Facility (ECF) programme

The IMF report is a shame. You would expect that in a country as poor as Malawi the focus would be on economic growth and structural changes that shift the population from low to high productivity activity. Instead, our focus is in piling up reserve and apparently, we have "overperformed" in this respect by going over the standard 3 months of imports.  Accumulation of reserves is not a costless exercise. For one,  it affects your import of vital inputs in production and medicines. Priding oneself of accumulating reserve under our dire conditions is irresponsible. And it is perhaps not surprising that the IMF has sought to protect its reputation by calling that an "overachievement". They did not ask for that. The IMF points out that the growth rate will barely exceed population growth. We know that to make the slightest dent in poverty Malawi must grow at least 7 per cent.

The reward for all the pain is peanuts - $15 million for a country claiming to have $1 billion in reserves. Usually one accepts IMF condition hoping that the IMF money will be a catalyst to funds from other donors. Now, this is not the case in Malawi. The donor's problem with Malawi is "governance issues". more specifically corruption. Our Minister of Finance should be at the forefront in the struggle against corruption.

Malawi needs an investment-led adjustment but  the way our planners have handled the Nacala railroad (we still have no dry port) and the MCA power sector investment (we still have to begin the Neno coal power project and the interconnection to Caborra Bassa - all this despite a time lead of more than  five years - leaves doubtful they can mount such a strategy and  extremely frustrated and sad.

Mkango Intersects Highest Grade Mineralisation To... | Morningstar

Mkango Intersects Highest Grade Mineralisation To... | Morningstar: LONDON (Alliance News) - Mkango Resources Ltd on Monday reported the intersection of the highest grade of rare earths mineralisation to date at its Songwe Hill project in Malawi.

Mkango shares were trading up 5.4% at 8.75 pence each on Monday morning.

The rare earths exploration and development company said it completed a 10,900 metres diamond drill programme at the project, which consisted of 21 drill holes.

Tim Treadgold: Paladin rides the uranium wave - Stockhead

Tim Treadgold: Paladin rides the uranium wave - Stockhead: It would be an odd investment decision to buy shares in a mining company that has closed its mines but Paladin Energy is not an ordinary miner. It’s a proxy for the recovery in uranium, a rival with coal for the title of world’s least-loved commodity.

Once a darling of the mining world with a share price that reached $8.25 in early 2007, a time when uranium was selling for $US140 ($191) a pound, Paladin (ASX:PDN) then crashed to 5c in the middle of last year, a fall of 99.4 per cent, perhaps a record for an ASX-listed stock which has lived to tell the tale.

Kwacha mixed fortunes - The Nation Online

Kwacha mixed fortunes - The Nation Online: Despite remaining steady against the US dollar and Euro, kwacha lost value against pound in September 2018, Reserve Bank of Malawi (RBM) statistics show.

RBM September 2018� Monthly� Economic Report indicates that the local currency traded at K732.51 per US dollar and K852.15 per Euro while shedding 1.1 percent against the pound to trade at K961.05.

K22bn project outcome impresses world bank - The Nation Online

K22bn project outcome impresses world bank - The Nation Online: K22bn project outcome impresses world bank
Steve Chilundu November 28, 2018 0 Comments
The World Bank has rated Malawi highly in the implementation of the $30 million (about K22 billion) six-year Agriculture Productivity Programme for Southern Africa (Appsa).

The programme, involving Malawi, Zambia and Mozambique, seeks to increase the development of agricultural technologies for improved crop production for sustainable food security.

Lindian launches court action over Malawi project

Lindian launches court action over Malawi project: ERTH (miningweekly.com) – ASX-listed Lindian Resources has launched criminal proceedings against Rift Valley Resources and geologist Michael Saner in South Africa, claiming that the company was defrauded.

Lindian on Friday told shareholders that the company had been granted an injunction by the High Court of Malawi, preventing Rift Valley and Sanar from dealing with the shares in the Kangankunde rare earths project, and in Rift Valley shares.

Fuel price hike to worsen living standards—experts - The Nation Online

Fuel price hike to worsen living standards—experts - The Nation Online: Economic commentators have warned that standards of living for the low and middle income earners are in jeopardy following the anticipated rise in prices of goods and services triggered by last week’s fuel price hike.

On Thursday, Malawi Energy Regulatory Authority (Mera) increased the price of petrol by 6.2 percent to K990.50 per litre, diesel went up by 6.9 percent to K990.40 per litre while paraffin is now selling at K785.80 per litre, an increase of 3.93 percent

Malawi economic Woes complex—IMF - The Nation Online

Malawi economic Woes complex—IMF - The Nation Online: Malawi economic Woes complex—IMF Chikondi Chiyembekeza November 26, 2018 0 Comments � The International Monetary Fund (IMF) has warned that Malawi’s economic problems are “quite complex”, saying that no single programme can solve the economic woes. IMF resident representative Jack Ree said this in an interview on Friday in Mangochi on the sidelines of the Economics Association of Malawi (Ecama) Annual Lakeshore Conference in the context Malawi’s successful completion of the first review of the three-year Extended Credit Facility (ECF).

Malawi News Agency Online - Government to construct more community stadiums

Malawi News Agency Online - Government to construct more community stadiums: Lilongwe, November 23, 2018: Government has said it will construct additional community stadiums in various districts, in a quest to promote sports industry in the country.

Minister of Local Government and Rural Development, Kondwani Nankhumwa made the remark on Thursday in Parliament saying that the project of constructing community stadiums in the district is underway.

“As the government we are embarking on a project to construct community stadiums in all districts, since we want to inspire the promotion of the sports sector in the country,” he said

Malawi's fuel prices up; economic down turn - The Maravi Post

Malawi's fuel prices up; economic down turn - The Maravi Post: BLANTYRE-(MaraviPost)-Tough times lie ahead following Malawi Energy Regulatory Authority’s (Mera) decision to raise petroleum pump prices.
The development which will push up prices of basic commodities.
In a statement released on Wednesday night signed by its board Chairperson Joseph Bvumbwe, Mera says paraffin price has risen from MK755.40 to 785 per litre while diesel price is up from MK935.60 to MK990.40.

Malawi is not developing—UN - The Nation Online

Malawi is not developing—UN - The Nation Online: Malawi remains among 47 countries designated by the United Nations (UN) as Least Developed Countries (LDCs), a latest United Nations Conference on Trade and Development (Unctad) report shows.

The report, published on Unctad website www.untcad.org on Tuesday observed that Malawi, alongside other 46 LDCs must develop the small and medium enterprises (SMEs) to meet the goals of the 2030 Agenda for Sustainable Development if it is to foster efforts on ending poverty.

Malawi: Bigger Picture of the Economy - IMF Says Malawi Has Overperfomed - allAfrica.com

 International Monetary Fund (IMF)has given another positive rating to Malawi's performance under its Extended Credit Facility programme, approving a US$15.4 million disbursement. In a statement dated November 21, Deputy Managing Directot and acting chair of the IMF Board Tao Zhang commended Malawi's economic performance.

Mines and Minerals Bills - The Nation Online

Mines and Minerals Bills - The Nation Online: alawi’s long-awaited Mines and Minerals Bill is to be tabled this sitting of Parliament, but key changes still need to be made.

The law was drafted on the back of a loan from the World Bank. In 2015, those of us labelled ‘stakeholders’ such as miners, activists, academics, chiefs, civil servants and parliamentarians, gathered at Sunbird Capital to review the draft. Amid mint chewing and buffet eating, we proposed over 140 changes to the Bill for consideration by the consultant, an American professor.

Inflation rate rises to 9.7% - The Nation Online

Inflation rate rises to 9.7% - The Nation Online: For four months in a row, Malawi’s year-on-year inflation rate has been on the upward spiral with National Statistical Office (NSO) figures released yesterday showing the rate has jumped by two percentage points from 9.5 percent in September to 9.7 percent in October.

The jump in inflation, caused by rising food and no-food items, has raised fears that the Reserve Bank of Malawi (RBM) could increase its policy rate—the rate at which commercial banks borrow from the central bank—at its next Monetary Policy Commitee (MPC) meeting in December. The rise in policy rate could also compel banks to increase the cost of borrowing

Double digit inflation scare | The Times Group

Double digit inflation scare | The Times Group: Malawi’s headline inflation inched up by 0.2 percentage points in October to hit 9.7 percent, gradually crawling back to a double digit band.

Malawi’s headline inflation has continued on an upward spiral in the past four months after it took a u-turn in July as escalating food and nonfood prices began to bite.

In October, food and non-food inflation rate stood at 10.4 percent and 9.2 percent, respectively, figures from the National Statistical Office (NSO) indicate.

Our Comment on Mining

About the only institutions that seem to be concerned about mining in Malawi are NGOs and mining firms themselves. We hear virtually nothing from labour and local business associations. Our media has yet to acquire the confidence of covering economic affairs, let alone the mining industry which is new to Malawi. And most of what the media reports draw from press releases from the two institutions - the NGOs and mining firms. Understandably, the press releases from the mining companies are basically public relations stuff and often they evolve around the progress of their projects and some corporate social responsibility activities. The NGOs concern are very narrowly focused around poverty issues.  They evolve around gains accruing to local communities and the environmental implications of planned mining activities.  

Important though the NGOs concerns are,  they are too narrow to address the central developmental issues that the government and society as a whole must grapple with. These relate to the developmental implications of mining and its relationship to the large social and economic concerns. First and foremost is the question of ownership. How much will Malawi, through its organs of the state, own in terms of shares in the mining enterprises? What will be the rate of taxation and how is the government giving away in the form of incentives?

The second set of concerns is around the linkage between mining and other sectors of the economy. Is the government holding any discussions with the mining sector and local business and labour on these issues? And even more pertinent is it putting in place any legislation that speaks to these issues?

Finally, there is the question of Malawi’s increasing mastery of the industry. What are the demands on the mining companies in terms of training of Malawians and indigenisation of skilled labour?

We should recall that many of the mining companies are using South Africa as their base and, as we saw in the case of Paladin, they bring with him the South Africa historical underevaluation of black labour. And unless our labour laws are firm on indigenisation and equitable treatment of labour, we will have the absurd situation we had in Kayelekera where semi-skilled expatriates were highly paid.

Import cover healthy—RBM - The Nation Online

Import cover healthy—RBM - The Nation Online: The Reserve Bank of Malawi (RBM) says despite the country being “deep in the lean period” in foreign exchange availability, the import cover is still healthy to sustain critical imports. RBM spokesperson Mbane Ngwira was responding to observations that the kwacha has lost ground, particularly against the dollar and that foreign exchange reserves have slightly dropped in recent weeks.

Study calls for merger of two commodity exchanges - The Nation Online

Study calls for merger of two commodity exchanges - The Nation Online: A study by� International Food Policy Research Institute has called for a merger of warehouse receipt systems (WRS) operated by the AHL Commodities Exchange (AHCX) and the Agriculture Commodity Exchange for Africa (ACE).

The study titled Commodity Exchanges and Warehouse Receipts in Malawi: Current Status and Their Implications for the Development of Structured Markets by Bob Baulch indicates that operating WRS in parallel with other warehouse receipts issued by large trading companies complicates collateral financing making it more risky than necessary.

Increased external debt stock under spotlight - The Nation Online

Increased external debt stock under spotlight - The Nation Online: Malawi’s increasing external debt stock continues to come under the spotlight with fresh figures from the World Bank report showing that external debt has risen to $2.168 billion (about K1.58 trillion) from $1.847 billion (K1.35 trillion) the year before.

The International Debt Statistics, which is the World Bank’s compilation of statistics covering external debt and financial flows of 121 low and middle income countries during 2017 shows total exports for the country marginally rose to $172 million (about K125 billion) from $151 million (about K110 billion) in the year before.

Roads Fund plans to roll out toll gates - The Nation Online

Roads Fund plans to roll out toll gates - The Nation Online: The Roads Fund Administration (RFA) says it plans to rollout toll gates on the country’s roads in the 2019/20 financial year.

In an interview yesterday, RFA procurement and public relations officer Masauko Mngwaluko said the possibility of having toll gates—steel structures put in highways and major roads for which a fee or toll is paid to pass—is real

Tobacco demand could plummet | The Times Group

Tobacco demand could plummet | The Times Group: Demand for Malawi tobacco could plummet in the 2018/19 season following a prolonged market and bloated volumes that characterised the sale of Malawi’s green gold.

Early this year, the Tobacco Control Commission (TCC) announced that the country produced 147.8 million kilogrammes (KGs ) against a demand of 171 million KGs.

Pressure on kwacha | The Times Group

Pressure on kwacha | The Times Group: By Taonga Sabola:

Pressure has started mounting on the local trading unit, the kwacha, as the country passes through the lean foreign exchange period, investment management and advisory firm Alliance Capital has said.

In its October 2018 Economic Report released Wednesday, Alliance Capital says the kwacha has steadily depreciated against the dollar since September 2018.

As at October 5 2018, the foreign exchange reserves stood at $690.48 million (3.3 months) down from $745.49 million (3.56 months of cover) recorded on September 5 2018.

Firm invests K50bn, set to list on MSE - The Nation Online

Firm invests K50bn, set to list on MSE - The Nation Online: Newly-formed property development and management firm, Icon Properties Limited, says it has invested over K50 billion and plans to list on the Malawi Stock Exchange (MSE) before the year ends.

The firm, which was born after restructuring property companies in the MSE-listed Nico Holdings group portfolio as well as through a collaborative process with other property investors, was incorporated in Malawi on June 4 2018 and converted to a public limited company on October 11 this year.

Sovereign Metals confirms Malingunde projects' world-class status

Sovereign Metals confirms Malingunde projects' world-class status: East Africa - Sovereign Metals' 100%-owned Malingunde saprolite-hosted graphite project is a globally significant, coarse�flake graphite development.

It represents a high quality potential future mining operation producing�premium quality natural graphite products.

The Pre-Feasibility�Study (PFS) demonstrates extremely low operating and low capital�costs providing excellent margins.

Malawi: Government to Introduce Own Commercial Bank - allAfrica.com

Malawi: Government to Introduce Own Commercial Bank - allAfrica.com: Balaka — Minister of Finance, Economic Planning and Development, Goodall Gondwe on Wednesday disclosed that plans are at an advanced stage for the government to establish its own commercial bank.

Lowest cost graphite output a big advantage for Sovereign - MiningNews.net

Lowest cost graphite output a big advantage for Sovereign - MiningNews.net: A prefeasibility study for the project released�today is said by Sovereign to have outlined the "lowest operating cost coarse flake graphite project globally". Development capex is put at US$49 million for a 16-year project annually producing an average of 52,000t per annum of concentrate at operating costs of $323/t (FOB). The latter sees Sovereign of the belief it should even be able to "compete on price point with China", the world's largest supplier and consumer of natural flake graphite.

Fiscal deficit set to worsen - The Nation Online

Fiscal deficit set to worsen - The Nation Online: Minister of Finance, Economic Planning and Development Goodall Gondwe says the 2018/19 financial year deficit could worsen if the World Bank fails to commit its financial pledge.

Speaking on the sidelines of the Reserve Bank of Malawi (RBM) Monetary Policy Conference in Mangochi on Tuesday, the minister said the Bretton Wood institution had earlier pledged K60 billion budget support, but its decision not to disburse the money could mean a larger than expected deficit for the budget.

Sovereign Metals reckons it has the “world’s best flake graphite project” - Stockhead

Sovereign Metals reckons it has the “world’s best flake graphite project” - Stockhead: November 7, 2018 | Reuben Adams

Explorer Sovereign Metals reckons it has a world-beating� graphite project on its hands in the African nation of Malawi.

The market’s response was muted on the news, however, with Sovereign (ASX:SVM) shares increasing just over 2 per cent to 8.7c by midday.

The share price has ranged between 6.7c and 15.5c over the past 12 months.

Sovereign Metals (@sovereignmetals) | Twitter

Sovereign Metals (@sovereignmetals) | Twitter: Sovereign Metals
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@sovereignmetals
12h12 hours ago
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Miss the #SovereignMetals PFS release yesterday? Not to worry, hear from Managing Director Julian Stephens as he runs through the details of the announcement.

#SVM #Graphite #PFS #Malingunde #Malawi

Uranium price hits 2.5 year high | Financial Times

Uranium price hits 2.5 year high | Financial Times: Uranium has hit its highest level in more than two-and-half years as big producers of the nuclear fuel buy material in the market and China prepares to reaffirm its commiment to build new plants. Uranium, which is used in nuclear reactors to produce electricity, has been one of the best performing commodities of 2018, rising almost 40 per cent from its April lows.

Malawi yet to ratify cross border trade agreement - The Nation Online

Malawi yet to ratify cross border trade agreement - The Nation Online: Ministry of Industry, Trade and Tourism director of trade Christina Zakeyu Chatima has said Malawi will only ratify the Tripartite Free Trade Area (TFTA) when the rules of product origin are fair for the country’s private sector. Speaking at the a consultative meeting on the TFTA in Lilongwe last week, Chatima said government will not be willing to ratify the TFTA until the private sector is convinced that the playing field has been levelled.

Malawi borrows US$215 million from India | Malawi 24 - Malawi news

Malawi borrows US$215 million from India | Malawi 24 - Malawi news: Malawi borrows US$215 million from India 0
BY MARTHA CHIKOTI ON NOV 06, 2018 POLITICS
Malawi has secured a US$215.16 million loan from India for the construction of 18 water projects and the Mahatma Gandhi International Convention Centre in Blantyre.

Indian Vice President Shri Venkaiah Naidu announced the line of credit on Monday when he launched the “India for Humanity” initiative with Malawi.

A New Golden Age for Uranium? - Banyan Hill Publishing

A New Golden Age for Uranium? - Banyan Hill Publishing: Uranium, the fuel for nuclear reactors, found itself in the throes of a nearly decade-long bear market.

Japan evacuated 300,000 people in 2011 following the tsunami that struck the Fukushima nuclear power plant.

Most of the towns and cities affected remain abandoned.

Although nuclear disasters are rare, the impact left a lasting mark. The Fukushima disaster spooked developed nations from investing in nuclear power.

Malawi: Mining in the heart of Africa

Malawi: Mining in the heart of Africa: Malawi: Mining in the heart of Africa
Published on October 26, 2018

Leon Louw

�The mining industry in Malawi is still in an early stage. The country is one of the poorest in the world, landlocked, and the infrastructure is old and not ideal to support a thriving mineral sector. Malawi has a fledging aggregate industry, nevertheless, and exploration projects for oil, rare earth elements (REEs), and graphite are putting it on the global mining map. It is best known for its substantial deposits of uranium, and pockets of small-scale coal operations. To date, Paladin Energy’s Kayelekera uranium mine has been the only large-scale mining project to get off the ground in this small country, better known for its lake resorts, fishing villages, and kapenta boats than for its large mineral deposits. Kayelekera, though, has been on care and maintenance for the past four years, following the sudden drop in uranium prices after the Fukushima nuclear disaster in Japan in 2011, and ongoing high operating costs.�

Read-across from Talaxis investment suggests Mkango Ltd is trading at a significant discount, says SP Angel

Read-across from Talaxis investment suggests Mkango Ltd is trading at a significant discount, says SP Angel: 12:52 04 Oct 2018
Mkango's rare earths projects have already attracted significant interest, and cash
According to the US Geological Survey, China accounts for around 79% of the world’s rare earth production. That’s as far as can be ascertained, because much of Chinese production is opaque and hard to quantify.

Either way, such an imbalance in global production at a time when trade war rhetoric against the Chinese is rapidly being converted into hard tariffs, is likely to favour significant rare earths operations in jurisdictions outside of China.

APM Delivers: Blantyre 5 Star Business Park Takes Shape – Malawi Voice

APM Delivers: Blantyre 5 Star Business Park Takes Shape – Malawi Voice: his magnificent structure,Sogecoa Golden Peacock 5-Star Business Park at Chichiri in Blantyre was captured on Sunday barely nine months after President Professor Arthur Peter Mutharika laid a foundation stone.

Upon completion, the park will comprise a world class shopping centre, a big convention room, online casino, 210-room lodge and two trendy eating places.

The park will add beauty to Blantyre city.

Malawi on the verge of joining power pool - The Nation Online

Malawi on the verge of joining power pool - The Nation Online: Escom says the commissioning of Phombeya Power Sub-station in Balaka under the five-year $350 million (about K257 billion) Millennium Challenge Corporation (MCC) energy compact advances Malawi’s hopes of joining the Southern Africa Power Pool (Sapp).

The Phombeya Sub-station, which was officially handed over to Electricity Supply Corporation of Malawi (Escom) on Tuesday, has seen its transmission capacity increasing from 132 kilovolts (kV) to 400kV

Firm to complete rare earth mine takeover - The Nation Online

Firm to complete rare earth mine takeover - The Nation Online: Firm to complete rare earth mine takeover
Martha Chirambo November 1, 2018 0 Comments
Australian Stock Exchange (ASX)-listed Lindian Resources, a firm with an option to acquire a staged interest in Kangakunde Rare Earth Project in Balaka of up to 75 percent, says it expects to complete the takeover of the mine this month.

Kangankunde has mineral deposits worth billions of dollars and can be a game changer for Malawi if successfully developed, according to mining experts.

Government taking time on free trade area | The Times Group

Government taking time on free trade area | The Times Group: Malawi is yet to ratify the African Continental Free Trade Area (AfCFTA) as the government is reportedly “still taking necessary steps”.

Malawi is among 44 countries that signed the agreement in Kigali, Rwanda, in March this year.

For the treaty to come into force, at least 22 countries would have to ratify it.

Of the 44 countries, only Kenya, Ghana, Rwanda, Niger, Chad and Swaziland have ratified it, with South Africa expected to ratify it next year.

IMF forecasts stable inflation beyond 2018 | The Times Group

IMF forecasts stable inflation beyond 2018 | The Times Group: By William Kumwembe:

The International Monetary Fund (IMF) has projected a solid downward trajectory of inflation beyond 2018, converging at 5 percent in the long term.

The Bretton Woods institution has since said it expects Malawi’s inflation to average 9 percent this year, in line with an earlier projection by Reserve Bank of Malawi (RBM).

IMF says it expects inflation to close at 9.5 percent by end of 2018.

Growth forecasts raise eyebrows - The Nation Online

Growth forecasts raise eyebrows - The Nation Online: Businesses and economic analysts have bemoaned Malawi’s ambitious gross domestic product (GDP) targets, saying they slow down growth as businesses take a wait-and-see approach.

In turn, government misses out on revenue, analysts have said.

Malawi Supreme court favours Khato on Salima-Lilongwe Water Project - The Maravi Post

Malawi Supreme court favours Khato on Salima-Lilongwe Water Project - The Maravi Post: BLANTYRE-(MaraviPost)-The Malawi Supreme Court of Appeal judges on Thursday throw away an objection application in which two civil society organisations (CSOs) want� to replace the Malawi Law Society (MLS) in the Salima-Lilongwe Water Project case

The two CSOs—Youth and Society (YAS) and Centre for Human Rights and Rehabilitation (CHRR) wanted the case to back to the High Court of Malawi to determine the legality of the project in respect of awarding of the contract to Khato Civils Limited as well as commencement of work without an environmental impact assessment (EIA) report.

Inflation under control—RBM | The Times Group

Inflation under control—RBM | The Times Group: he Reserve Bank of Malawi (RBM) has said it remains confident the country’s inflation remains under control and would average between 9.3 and 9.6 percent this year.

This is despite inflation rising for the third straight month in September although at a slower pace.

Headline inflation edged up by 0.2 percentage points to 9.5 percent in September 2018, from 9.3 percent recorded in August 2018.

Report shows trade gap still widening - The Nation Online

Report shows trade gap still widening - The Nation Online: The Malawi Growth and Development Strategy (MGDS) III aspirations were this week put on the spotlight following revelations from the International Trade Index on Trade Map that the country’s imports are declining. The index observes that Malawi’s imports from the rest of Africa declined over the past five years, at a time exports are also declining. It shows that Malawi’s imports declined from $1.2 billion (about K876 billion) in 2013 to $758 million (K555 billion) in 2017.

Malawi's Kanyika Niobium ready for mining; promises 1000 jobs...as extractive industry revenue down 10% - The Maravi Post

Malawi's Kanyika Niobium ready for mining; promises 1000 jobs...as extractive industry revenue down 10% - The Maravi Post: LILONGWE-(MaraviPost)-The halted Kanyika Niobium Project says the “mine is ready”, after years of giving hope to communities at Inkhosi Mabilabo Jere in the Northern district of Mzimba.

The exploration of Niobium and Tantalum that started 2006 to 2012, the project has assured 1,000 jobs to Malawians when mining starts in 18 months time.

This comes as the second Malawi Extractive Industries Transparency Initiative (Mweiti) report shows that revenue has gone down 10 percent to MK5.3 billion.

Malawi Set to Get Zambia Power to Minimise Blackouts - allAfrica.com

Southern Africa: Malawi Set to Get Zambia Power to Minimise Blackouts Malawi is set to start getting 20 megawatts of electricity from Zambia starting this week, bringing hope that the persistent power blackouts would be minimized. Minister of Energy Aggrey Massi said on Saturday that this follows an interconnection power agreement which the governments of Malawi and Zambia signed a month ago in Lusaka. "The government is making strides to end the power blackouts and this is just one step among many the government has lined up," Massi said.

Price hikes push up inflation to 9.5% - The Nation Online

Price hikes push up inflation to 9.5% - The Nation Online: . Rising electricity tariffs is expected to put pressure on inflation In September, Malawi Energy Regulatory Authority (Mera) increased the price of fuel by an average of five percent, a development which compelled service providers to push up their prices as well. During the same month, Mera also approved a 31.8 percent tariff hike for Electricity Supply Corporation of Malawi (Escom) over a four-year period. Maize prices, on the other hand, have also gone up to an average of K7 500 per 50 kilogramme (kg) bag from an average of K5 000 per 50 kg bag some months before. 

African Governments Are Paying for the World Bank’s Mauritius Miracle – Foreign Policy

African Governments Are Paying for the World Bank’s Mauritius Miracle – Foreign Policy: OCTOBER 18, 2018, 11:05 AM PORT LOUIS, Mauritius—The security guard at Malawi Mangoes’ registered address at an office at the St Louis Business Centre in downtown Port Louis is not sure if we’re in the right place. The staff at the front desk are bewildered by our request to speak to someone from the company. The otherwise modest office block has flat-screen televisions on the walls and glossy magazines with titles like Savile Row and Family Business on a table in a small waiting area. After about 20 minutes, a woman in a suit appears, bearing apologies—she had been out to lunch. At first, she seems to mistake us for investors in Malawi Mangoes. We jump in to clarify: We’re journalists looking to talk to someone from the company, which in 2014 received a $5 million loan from the private investment arm of the World Bank, the International Finance Corporation (IFC). Our interlocutor appears confused, as if she knows little about the business, or why we might be attempting to learn more about it in Port Louis, Mauritius.

Malawi Govt Gets K5.6 Billion From Mining Sector - Activist Calls for Enactment of New Minerals Bill - allAfrica.com

Malawi Govt Gets K5.6 Billion From Mining Sector - Activist Calls for Enactment of New Minerals Bill - allAfrica.com: The Malawi government received over K5.3 billion from the mining sector in the 2015/2016 financial year, says the Malawi Extractive Industries Transparency Initiative (MWEITI) report for the year in question launched on Wednesday night in Lilongwe.

It was revealed during the launch that Raiply Malawi Limited, the company which processes timber products in Viphya Plantation, paid most of this tax.

This is the second MWEITI report since Malawi began subscribing to Extractive Industries Transparency Initiative (EITI) standards.

Malawi shines on tax reforms� - The Nation Online

Malawi shines on tax reforms� - The Nation Online: The 2018 Oxfam and Development Finance International Commitment to Reducing Inequality (CRI) Index has ranked Malawi among the best 10 countries in the world in designing progressive tax systems aimed at reducing inequalities.

The report shows that Australia, Denmark and South Africa occupy the first three positions in that order, with Malawi on position seven while near the bottom of the tax index are Bahrain and Vanuatu, which have no corporate or personal income tax

Community threaten to close Optichem mine - The Nation Online

Community threaten to close Optichem mine - The Nation Online: Disgruntled community in Phalombe District have threatened to close Thundulu Mine to force Optichem (Malawi) Limited to invest in local projects.

The locals, speaking during a fact-finding meeting organised by Centre for Policy and Advocacy (Cepa), said they would block roads to stop trucks from hauling rock phosphate from the hills in Phalombe North East.

MCTU push for minimum wage increase - The Nation Online

MCTU push for minimum wage increase - The Nation Online: Barely two weeks after the Malawi Energy Regulatory Authority (Mera) revised upwards fuel pump prices, the Malawi Congress of Trade Union (MCTU) is pushing for the revision of the minimum wage to match what it calls the current economic situation. MCTU Secretary general Denis Kalekeni argued that the fuel pump price increase has led to the rise of transport fares and other essential commodities pushing workers at a disadvantage.

Nyasa partners South Africa firm | The Times Group

Nyasa partners South Africa firm | The Times Group: Local cigarette manufacturer, Nyasa Manufacturing Company (NMC), has entered into a partnership with a South Africa- based multinational firm, Gold Leaf Tobacco Limited.

The partnership would see Malawi becoming a regional hub of cigarette production for the firm.

Reserve Bank of Malawi sees inflation averaging 9% in 2018 | The Times Group

Reserve Bank of Malawi sees inflation averaging 9% in 2018 | The Times Group: The Reserve Bank of Malawi (RBM) has said it expects Malawi’s inflation to average nine percent this year.

The prediction comes at a time Malawi’s inflation is threatening to run away following recent electricity and fuel price hikes which have driven up transport costs.

Malawi Revenue Authority requires installation of 300KVA UPS | ESI-Africa.com

Malawi Revenue Authority requires installation of 300KVA UPS | ESI-Africa.com: The Malawi Revenue Authority (MRA) has budgeted public funds to be used for the procurement of supply, delivery and installation of a 300KVA uninterrupted power supply system (UPS) for Msonkho House in Blantyre.

The Chairperson, Internal Procurement and Disposal of Assets Committee of Malawi Revenue Authority now invites sealed bids from eligible and qualified bidders for the supply and delivery of the above mentioned.

Malawi Stock Exchange pens Escom on borrowing | The Times Group

Malawi Stock Exchange pens Escom on borrowing | The Times Group: Malawi Stock Exchange (MSE) has written Electricity Supply Corporation of Malawi (Escom) and Secretary to the Treasury over the power utility firm’s proposal to borrow K30 billion from the money market.

MSE Chief Executive Officer, John Kamanga, confirmed in an interview Tuesday that his institution penned Escom a fortnight ago.

Escom revises tariff structure | The Times Group

Escom revises tariff structure | The Times Group: Electricity Supply Corporation of Malawi (Escom) has revised its base tariff structure following a 31.8 percent electricity tariff adjustment nod by Malawi Energy Regulatory Authority (Mera).

Escom applied for a 60 percent electricity tariff adjustment.

Escom has since introduced a life-line tariff in the new structure to cater for low income households to access electricity at lower rates, while reducing the subsidy for other sections of the consumers.

AfDB approves Malawi’s economic strategy - Vanguard News

AfDB approves Malawi’s economic strategy - Vanguard News: The African Development Bank has approved its Country Strategy Paper for Malawi for 2018-2022 to boost economic diversification, reduce dependency on rain-fed agriculture and build resilience for growth in the southern African nation. The Country Strategy Paper will guide the African Development Bank’s operations in Malawi with regards to its financial, technical and knowledge assistance to the country.

Admarc invests K800m in cotton production - The Nation Online

Admarc invests K800m in cotton production - The Nation Online: State produce trader Agricultural Development and Marketing Corporation (Admarc) has invested about K800 million in cotton irrigation farming in Chikwawa to increase output and boost the cotton industry.

Production of cotton, Malawi’s number four foreign exchange earner after tobacco, tea and sugar, has over the years been decreasing due to what experts say is lack of sustainable input supply system arising from lack of financial support to farmers due to loan defaults.

Firm sees inflation rate on bumpy ride - The Nation Online

Firm sees inflation rate on bumpy ride - The Nation Online: alawi faces a rollercoaster ride of rising inflation rate as the country is in the lean season in terms of food availability, an investment management and advisory firm has said.

In its September 2018 economic outlook, Nico Asset Managers Limited, a subsidiary of listed financial services group Nico Holdings plc, noted that the food inflation will continue to rise largely due to the lean season that has begun much earlier in� September rather than the usual October

IMF cuts Malawi’s Growth to 3.3% - The Nation Online

IMF cuts Malawi’s Growth to 3.3% - The Nation Online: IMF cuts Malawi’s Growth to 3.3% Eric Mtemang’ombe October 11, 2018 0 Comments � Malawi’s gross domestic product (GDP) growth will drop to 3.3 percent in 2018, declining by 0.7 percentage points from four percent recorded in 2017, blamed on declining maize output and power outages that have slowed down industrial growth, the International monetary Fund (IMF) has said. The IMF projection, contained in the World Economic Outlook for October 2018 released on Monday, is 0.2 percentage points lower than the economic growth recorded in 2017 and 2.4 percentage points lower than the 2018 average for low income countries.

IMF says 5% inflation target achievable | The Times Group

IMF says 5% inflation target achievable | The Times Group: The International Monetary Fund (IMF) has said Malawi could attain the five percent inflation target by 2021 if the system maintains a prudent economic management.

The Fund said the economy could even attain disinflation—a temporary slowing of the pace of price inflation by 2023.

Malawi’s headline quickened by 0.3 percentage points in August to 9.3 percent as escalating food prices continued to bite.

Malawi to tap electricity from Mozambique - official - Journal du Cameroun

Malawi to tap electricity from Mozambique - official - Journal du Cameroun: Mozambique’s deputy Minister of Mineral Resources and Energy, Augusto Fernando has said his country and Malawi are to be interconnected through the Mozambican national power grid.Fernando told APA in an exclusive interview on Monday that the bid to build the power-lines interconnecting the two countries is expected to be launched next year. “In addition to the interconnection, between the two countries, a branch line from Malawi back to northern Nampula province and elsewhere in the country, will be built in the future. This will allow Mozambique to have a second alternative because we always think Tete has Cahora Bassa, which supplies electricity”, he said in Maputo.

Malawi’s compact fate in December - The Nation Online

Malawi’s compact fate in December - The Nation Online: Following a failed meeting between President Peter Mutharika and Millennium Challenge Corporation (MCC) executives in New York, Malawi will have to wait until December when the MCC Board will decide on eligible countries for the next compact financing.

Khato water deal back - The Nation Online

Khato water deal back - The Nation Online: Khato water deal back Frank Namangale October 7, 2018 0 Comments Government has signed a deal with a financier of the K400 billion Lilongwe-Salima Project, effectively putting on course the project that faced several hurdles, Nation on Sunday has established.

Terrastone workers stage protests over abuse, low pay | The Times Group

Terrastone workers stage protests over abuse, low pay | The Times Group: Workers for Terrastone Construction Limited which is building Malawi Bureau of Standards (MBS) laboratory complex in Blantyre have downed tools over alleged abuse and low pay.

The workers who are over 100 staged protests at the gates of the construction site yesterday morning to force Terrastone management to look into their challenges.

IMF expects 4 pct growth in Malawi in 2019, economy performing well | Reuters

IMF expects 4 pct growth in Malawi in 2019, economy performing well | Reuters: IMF expects 4 pct growth in Malawi in 2019, economy performing well
2 MIN READ

BLANTYRE, Oct 6 (Reuters) - The International Monetary Fund (IMF) said it expected Malawi’s economy to grow by around 4 percent in 2019, followed by a rise to 6-7 percent over the medium term.

In a statement on Friday, the IMF said Malawi was performing well under a three-year $112 million loan facility agreed earlier this year to help the southern African country reform its economy.

“Malawi’s economy continues to grow while inflation remains on a declining trend,” the statement read.

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the First Review of Malawi’s Extended Credit Facility | Africanews

International Monetary Fund (IMF) Reaches Staff-Level Agreement on the First Review of Malawi’s Extended Credit Facility | Africanews: he IMF team reached a staff-level agreement with the authorities of Malawi on the completion of the first review under the Extended Credit Facility; Moderate economic growth is likely to strengthen to about 4 percent in 2019, followed by a rise to 6-7 percent over the medium term; Looking forward, fiscal policy should focus on actions to restore budget balance to correct for last year’s spending overruns and help cope with any shortfalls in budget support.

An International Monetary Fund (IMF) team led by Pritha Mitra, Mission Chief for Malawi, visited Lilongwe from September 25-October 5, 2018 to conduct discussions on the first review of the three-year arrangement for Malawi under the Extended Credit Facility (ECF) [1] (see Press Release No. 18/157 ).

At the end of the mission, Ms. Mitra issued the following statement:

“The IMF team reached a staff-level agreement with the authorities of Malawi on the completion of the first review under the Extended Credit Facility (ECF), which is subject to the approval of the IMF Executive Board.

Read-across from Talaxis investment suggests Mkango Ltd is trading at a significant discount, says SP Angel

Read-across from Talaxis investment suggests Mkango Ltd is trading at a significant discount, says SP Angel: Mkango's rare earths projects have already attracted significant interest, and cash

According to the US Geological Survey, China accounts for around 79% of the world’s rare earth production. That’s as far as can be ascertained, because much of Chinese production is opaque and hard to quantify.

Either way, such an imbalance in global production at a time when trade war rhetoric against the Chinese is rapidly being converted into hard tariffs, is likely to favour significant rare earths operations in jurisdictions outside of China.

READ:�Mkango Resources receives more encouraging assays from drilling at Songwe Hill
Mkango Resources Ltd (LON:MKA) has one such project, the Songwe Hill operation in Malawi. This project is moving rapidly towards a production decision, helped along by a significant investment at the project level from major commodities trader Talaxis.

This Talaxis investment is interesting in several ways. First, there’s every likelihood that Talaxis will follow its money when a production decision is made, meaning that for Mkango, financing Songwe Hill could be pretty straightforward.

MALAWI: Public electricity company at geothermal school in Kenya - Afrik 21

MALAWI: Public electricity company at geothermal school in Kenya - Afrik 21: Malawi wants to get into geothermal energy with the objective to draw on Kenya's experience. A delegation from Malawi Electricity Generating Company travelled to Nairobi for working sessions with Kenya Electricity Generating Company (KenGen) and Geothermal Development Company (GDC).
Geothermal energy has a significant impact on Kenya’s energy mix: 30% in 2018. The country’s first power plant (Olkaria I) dates back to 1981. Kenya is the leading producer of geothermal energy on the African continent, with an installed capacity of 700 MW. Many projects are underway in the country. It is therefore from that experience that Malawi wants to learn from.

New tariff should Boost power supply - The Nation Online

New tariff should Boost power supply - The Nation Online: New tariff should Boost power supply Archibald kasakura October 4, 2018 0 Comments � Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said the 31.8 percent electricity tariff hike over a four-year period will be meaningless if Escom does not improve power supply. The pronouncement by MCCCI chief executive officer Chancellor Kaferapanjira on Tuesday comes on the back of a tariff hike approval by Malawi Energy Regulatory Authority (Mera) on Monday based on Electricity Supply Corporation of Malawi (Escom) undertaking to improve electricity supply, which has been intermittent for the past three years

Extractive industry revenue down 10% to k5.3bn—report - The Nation Online

Extractive industry revenue down 10% to k5.3bn—report - The Nation Online: k5.3bn—report
Martha Chirambo
October 5, 2018
0 Comments
Malawi has earned K5.3 billion in revenue from the extractive industry, the second Extractive Industries Transparency Initiative (Mweiti) report shows.

This is a 10 percent drop from the 2015 revenue which stood at K5.93 billion

Graphite miner posts K3.8 billion annual loss - The Nation Online

Graphite miner posts K3.8 billion annual loss - The Nation Online: Sovereign Metals Limited, an Australian Stock Exchange (ASX)-listed mining firm conducting a feasibility study for graphite at Malingunde in Lilongwe, has posted pre-tax loss of $5.2 million (about K3.8 billion) largely due to exploration expenditure.

This is on top of another loss of $3.6 million (K2.6 billion) posted the year before, according to the company’s 2018 annual report.

But mining expert Grain Malunga, who is also former minister of Natural Resources, Energy and Mining, in an interview, argued that under normal circumstances, the firm was not supposed to post losses as mining has not yet started.

He said the miner is only in research stage.

Malawi Stock Exchange maintains bullish run in Q3 | The Times Group

Malawi Stock Exchange maintains bullish run in Q3 | The Times Group: The Malawi Stock Exchange (MSE) continued with its bullish performance in the third quarter of 2018 as reflected by a 57.47 percent increase in share value.

In its third Quarter Market Performance report released on Wednesday, MSE indicates that the market, however, recorded a 76.35 percent decrease in terms of share volumes traded.

IMF, Capital Hill in talks | The Times Group

IMF, Capital Hill in talks | The Times Group: By MacDonald Thom: The International Monetary Fund (IMF) is this morning holding a press conference, after its team, led by Pritha Mitra, Mission Chief to Malawi, visited the country from September 25 to October 5.

The team was in the country to conduct discussions about the first review of the three-year arrangement for Malawi under Extended Credit Facility (ECF) for about $112.3�million.

Electricity tariff 32% up | The Times Group

Electricity tariff 32% up | The Times Group: Malawi Energy Regulatory Authority (Mera) has rebuffed Electricity Supply Corporation of Malawi’s (Escom) proposal to effect a 60 percent base electricity tariff increase between 2018 and 2022 and has instead, allowed the parastatal to increase the electricity charges by an average of 31.8 percent.

Comment On Rare Earth Mining in Balaka

For more than a decade a geologist, Michael Saner has held the rare earth mining to ransom.

 US$100-million from the Malawi Government for damages plus sunk costs, legal costs and interest. “ The matter dates back to 2000 when the ministry granted Saner the EPL for Kangankude Mine in Balaka. The EPL was issued on March 15, 2000, for an initial period of three years and it was renewable.

On November 25 2002, Saner submitted an application to renew his EPL of  Kangankunde Carbonatite located in Balaka District and in compliance with the Mines and Minerals Act, the application was submitted three months prior to the expiry date of the EPL but the ministry did not respond to Saner’s renewal application and no grounds were given.

The ministry only gave the reasons for non-renewal in May 2003 after inquiry and officers in the ministry told Saner that the EPL would be renewed but it was not.

However, the ministry issued the mining license to a close associate of Muluzi  Tony Patel, in May 2003 although Patel never held an EPL or engaged in mining. He was a furniture seller. . Three years later Patel sold the “rights” for US$4 million to Lynas Corporation Limited, an Australian publicly-listed company. Mr. Patel

In 2006, Saner obtained a court order which required that the EPL be renewed but it was not renewed, a development which made Saner unable to move to the exploitation phase which was the main objective of the EPL and in 2010, Saner obtained an injunction which prohibits the granting of a mineral license of Kangankunde to any other party other than him” (https://mwnation.com/court-awards-a-geologist-k69-5bn}/

Now we are informed that  ASX-listed Lindian Resources’ geologist Michael Saner has signed a consent order with the Malawi Ministry of Natural Resources and Environmental Affairs, bringing the company a step closer to acquiring up to 75% in the Kangankunde rare earth project, in Malawi.

This has huge implications for the rare earth industry. Given the previous experience, we insist on a transparent process. What exactly is the new agreement with Saner? Does this lay to rest his outrageous claim?

PPA signed for 60 MW Malawi solar project – pv magazine International

PPA signed for 60 MW Malawi solar project – pv magazine International: PPA signed for 60 MW Malawi solar project JCM Matswani Solar Corp Limited has signed a 20-year power purchase agreement (PPA) with the Electricity Supply Corporation of Malawi Limited (ESCOM) for a 60 MW solar PV project.

Inflation quickens to 9.3% in August | The Times Group

Inflation quickens to 9.3% in August | The Times Group: Malawi’s headline quickened by 0.3 percentage points in August to 9.3 percent as escalating food prices continued to bite, the National Statistical Office (NSO) has said.

This was the second month inflation has surged after making a u-turn in July.

Malawian consent order allows Lindian to secure rare earths project EPL soon

Malawian consent order allows Lindian to secure rare earths project EPL soon: SX-listed Lindian Resources’ geologist Michael Saner has signed a consent order with the Malawi Ministry of Natural Resources and Environmental Affairs, bringing the company a step closer to acquiring up to 75% in the Kangankunde rare earths project, in Malawi.

Tanzanian junior expands focus to develop large-scale rare earths project in Malawi

Tanzanian junior expands focus to develop large-scale rare earths project in Malawi: While focused on advancing its Lushoto bauxite project in Tanzania, ASX-listed Lindian Resources has expanded its East African project portfolio having progressed with its acquisition of up to a 75% interest in a major rare earths project in Malawi. A consent order between the Malawi Ministry of Natural Resources and Environmental Affairs and Michael Saner has been signed for the Kangankunde rare earths project in Malawi – reportedly one of the largest rare earths projects outside of China. The acquisition was announced in August, the seller – Rift Valley Resources

Reserve Bank maintains bank rate at 16% | The Times Group

Reserve Bank maintains bank rate at 16% | The Times Group: Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) Wednesday resolved to maintain the country’s indicative cost of borrowing, technically known as bank or policy rate, at 16 percent.

The decision did not come as a surprise considering the inflationary pressures the economy has been experiencing in recent months emanating from rising food and non-food prices.

Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi TSX Venture Exchange:MKA

Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi TSX Venture Exchange:MKA: Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi Email Print Friendly Share September 20, 2018 02:00 ET | Source: Mkango Resources Ltd. LONDON and CALGARY, Alberta, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango") is pleased to announce results for a further nine holes from the recently completed 10,900 metre diamond drill programme at the Songwe Hill Rare Earths Project (“Songwe”) in Malawi. The drilling programme is a key component of the ongoing initial phases of the Feasibility Study for Songwe, which is fully funded following investments by Mkango’s strategic partner, Talaxis Limited, in January 2018

IMF team in next week for ECF review | The Times Group

#IMF team in next week for ECF review | The Times Group: REE— It will also reflect on lessons An International Monetory Fund (IMF) mission team is expected in #Malawi next week for the first review of the Extended Credit Facility (ECF) programme worth about K82.3 billion ($112.3 million) the fund’s executive board approved in May 2018. IMF Resident Representative to Malawi, Jack Ree, said in a response to an emailed questionnaire that an advance team of the ECF mission would be in the country next week.

Malawi’s energy compact ends | The Times Group

Malawi’s energy compact ends | The Times Group: Malawi’s $350.7 million Millennium Challenge Corporation (MCC) energy compact came to an end Thursday after rolling for five years.

Among other objectives the compact was designed to modernise Malawi’s electricity infrastructure by broadening the band width to accommodate future investments in addition to bringing additional voltage into the national grid.

Is uranium about to breakout?

Is uranium about to breakout?: On Friday, September 14, uranium increased to US$ 27.30 a pound. Is this going to be the breakout indicator? Historically, uranium reached an all time high of US$143 in May of 2007 and a record low of US$7.10 in December of 2000.

Domestic debt jumps 9 percent | The Times Group

Domestic debt jumps 9 percent | The Times Group: Malawi’s outstanding domestic debt stock accelerated by nine percent from K1.37 trillion to K1.5 trillion in the second quarter of 2018, figures from the Reserve Bank of Malawi (RBM) indicate. The K1.5 billion is slightly higher than the K1.45 trillion budget for the 2018/19 financial year.

MITC signs $234 million deals in August | The Times Group

MITC signs $234 million deals in August | The Times Group: CHIMBALU— About 1014 jobs to be created The Malawi Investment and Trade Centre (MITC) in August granted 15 investment certificates to prospective investors, representing $234.7 million in investment pledges. The amount is 41.5 percent higher than the $165.8 million investment pledges registered in July. In August last year, only two companies had registered with investment pledges

Bad policies worry MCCCI | The Times Group

Bad policies worry MCCCI | The Times Group: Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said frequent policy interventions are scaring private sector players in the agriculture sector.

MCCCI President, Prince Kapondamgaga, was speaking in Blantyre Wednesday at the start of the 15th National Agriculture Fair.

Kapondamgaga said, though the agriculture sector has potential to transform the structure of the economy if it attracts private sector investments, It continues to face an unpredictable policy environment.

NBS Bank posts profit, turnaround on track - The Nation Online

NBS Bank posts profit, turnaround on track - The Nation Online: NBS Bank posts profit, turnaround on track
Chikondi Chiyembekeza September 4, 2018 0 Comments
The fruits of human capital investment and partnership seem to have paid off at the Malawi Stock Exchange (MSE)-listed NBS Bank plc as it has posted a K479 million half-year profit, after two years of losses.

The bank has been on a recruitment drive and training of its staff and also partnered Rabobank—a technical partner from The Netherlands.

Escom board chair vows to clean up mess - The Nation Online

Escom board chair vows to clean up mess - The Nation Online: Escom board chairperson Thom Mpinganjira has pledged to spruce up the image of the power utility, which has been in the limelight for various reasons, including corruption allegations.

State-owned Electricity Supply Corporation of Malawi (Escom) has also been accused of inefficiency in its operations, largely due to serious misprocurement which has been prevalent in recent past.

In an interview monitored on privately-owned Capital Radio on Tuesday, Mpinganjira, who is also group chief executive officer and shareholder of financial services group, FDH Financial Holdings Limited, said Escom board has so far moved in and made various recommendations aimed at improving the operations and the performance of the parastata

Chinese firm for speed on Kammwamba project - The Nation Online

Chinese firm for speed on Kammwamba project - The Nation Online: Energy China Engineering Group, a company sub-contracted to work on the Kammwamba Coal–Fired Power Plant in Neno says it will work with speed to ensure that the project is completed soon. Chief chairman for Energy China Engineering Group Wang Jiangping said this in Beijing, China when President Peter Mutharika toured the company’s head office to appreciate the strides that the company has made in preparation for the 300 megawatt Kammwamba project.

IFC seeks specialist developer for early-stage development of hydroelectric station in Malawi - HydroWorld

IFC seeks specialist developer for early-stage development of hydroelectric station in Malawi - HydroWorld: IFC seeks specialist developer for early-stage development of hydroelectric station in Malawi
08/30/2018



(Sponsored Content)

The Government of Malawi has engaged International Finance Corporation (IFC) for the development of a hydroelectric power station at Mpatamanga on the Shire River in Malawi. IFC wishes to outsource the early-stage development of the project to a specialist developer, prior to a competitive tender in accordance with applicable Malawian law.

IFC intends to select the specialist developer through a selection week to be held in Lilongwe. During the selection week, currently scheduled for 24 September 2018, the IFC team will present the project and the opportunity to partner with IFC, while participating developers will be able to present their credentials and proposals.�

Mutharika move to end electricity woes in Malawi: Pushes for coal-fired power plant with China Energy Group | Malawi Nyasa Times - Malawi breaking news in Malawi

Mutharika move to end electricity woes in Malawi: Pushes for coal-fired power plant with China Energy Group | Malawi Nyasa Times - Malawi breaking news in Malawi



with China Energy Group
August 30, 2018 Nyasa Times Reporter 1 Comment
Pushes for coal-fired power plant
Malawi President.Peter Mutharika seems to be making good use of his time in Beijing, China where he has gone to attend the 2018 Forum for China-Africa
Corporation (FOCAC) as on Thursday, two days before the official
generation project to build a coal-fired power plant at Kammwamba.
Mutharika and his delegations met the Chairperson of the
China Energy Engineering Group Ltd (CEEC) the Parent
company of the China Gezhouba Group International
Engineering Company; Wang Jianping and directors of the
opening of the summit, he met Chinese consortium of companies to discuss energy

Sovereign Metals: Bulk Sample Drilling for Pilot Plant Program Commences at Malingunde Graphite Project - IR-WORLD

Sovereign Metals: Bulk Sample Drilling for Pilot Plant Program Commences at Malingunde Graphite Project - IR-WORLD: Sovereign Metals: Bulk Sample Drilling for Pilot Plant Program Commences at Malingunde Graphite Project
Sovereign Metals: Bulk Sample Drilling for Pilot Plant Program Commences at Malingunde Graphite Project

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Sovereign Metals Limited (“the Company” or “Sovereign”) is pleased to announce of the commencement of a drilling program to extract ~100 tonnes of ore to be used for a pilot processing program and production of bulk graphite concentrates from its world-class Malingunde Saprolite Hosted Graphite Project in Malawi.

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Acceleration of the pilot program and the production of bulk concentrates has been driven by significant demand from potential offtake partners, as they seek greater quantities of product for continuation and upscaling of testing and qualification.

Economy to sustain solid growth—RBM - The Nation Online

Economy to sustain solid growth—RBM - The Nation Online: Economy to sustain solid growth—RBM Chikondi Chiyembekeza August 28, 2018 0 Comments � Amid power outages that have subdued economic growth, the Reserve Bank of Malawi (RBM) says the country’s economy is expected to sustain momentum this year but not as much as in 2017. “The economy is expected to grow by four percent down from 5.1 percent in 2017 and is expected to rebound to six percent in 2019.

Malawi opens up airspace - The Nation Online

Malawi opens up airspace - The Nation Online: Malawi opens up airspace Orama Chiphwanya August 23, 2018 0 Comments � Local and international airlines could benefit from air travel business following Malawi Government’s signing of aviation agreements with a number of countries to enable airlines to operate to and from the country. Ministry of Transport and Public Works spokesperson James Chakwera said in an interview on Tuesday government continues to create an enabling environment for airlines to operate to promote air transport

Mkango Resources Ltd on 'clearly defined pathway' to production with drilling at Songwe Hill underway

Mkango Resources Ltd on 'clearly defined pathway' to production with drilling at Songwe Hill underway: Mkango Resources on 'clearly defined pathway' to production with drilling at Songwe Hill underway
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14:17 21 Aug 2018
Mkango is now well underway with the largest drill programme to date at Songwe

Old Mutual rebrands, readies for growth - The Nation Online

Old Mutual rebrands, readies for growth - The Nation Online: Old Mutual rebrands, readies for growth Staff Writer August 21, 2018 0 Comments Old Mutual Limited has unveiled a new brand identity to reflect its fresh customer-led approach and stronger focus on Africa. In a statement yesterday quoting chief marketing officer Vuyo Lee, the company, which had its primary listing on Johannesburg Stock Exchange (JSE) in June this year, said the new visual personality draws on the optimism, vibrancy and seize-the-day spirit of the continent, reinforcing the message of ‘Made in Africa for Africans’

Treasury to issue K20bn 3-year note - The Nation Online

Treasury to issue K20bn 3-year note - The Nation Online: Treasury to issue K20bn 3-year note Orama Chiphwanya August 21, 2018 0 Comments Treasury will on Thursday issue a K20 billion three-year Treasury Note which will later be listed on the Malawi Stock Exchange (MSE) to refinance rising domestic debt. The Treasury Note—a government debt security with a fixed interest rate and a maturity of between one and 10 years—will be issued at a coupon (interest) rate of 14 percent, which is above the inflation rate currently at 8.6 percent

Lilongwe Business Park creates 200 jobs—official - The Nation Online

Lilongwe Business Park creates 200 jobs—official - The Nation Online: Lilongwe Business Park creates 200 jobs—official Christopher Jimu August 21, 2018 0 Comments China Lilongwe Grand Holdings Limited, which is building a $100 million (about K73 billion) Lilongwe Business Park, says it has created 200 jobs for Malawians so far. Speaking in an interview on Friday in Lilongwe, the firm’s executive president Zanjiang Ma said, so far,� they have employed builders and other artisans, but once completed, 1 500 jobs will be created.

300MW coal-fired power plant process takes off - The Nation Online

300MW coal-fired power plant process takes off - The Nation Online: 300MW coal-fired power plant process takes off
Orama Chiphwanya August 22, 2018 0 Comments
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After three years of talk and no action, the process to start work on the 300 megawatts (MW) Kam’mwamba Coal-Fired Power Plant Project in Neno, with a lifespan of 30 years, seems to have started, The Nation has been established.

Kam’mwamba Power Generation Company Limited (KPGC), a special purpose vehicle to implement the project, is seeking suppliers of limestone of between 17 600 and 21 000 tonnes per year, to be used during the operation of the power plant

Mkango intersects extensive zones of rare earths mineralisation at Malawi project

Mkango intersects extensive zones of rare earths mineralisation at Malawi project: Mkango intersects extensive zones of rare earths mineralisation at Malawi project 21ST AUGUST 2018 BY: SIMONE LIEDTKE WRITER SAVE THIS ARTICLE �����EMAIL THIS ARTICLE FONT SIZE: - Aim- and TSX-V-listed Mkango Resources has revealed the results of exploration drilling on the first eight holes, totalling 944 m of its targeted 10�000 m diamond drilling programme, at the Songwe Hill rare earths project, in Malawi. The drilling programme, which is focussed on infill drilling to confirm and upgrade the existing indicated and inferred mineral resource estimates, is a key component of the ongoing feasibility study for Songwe Hill and will be testing the extensions to the mineralisation and geotechnical drilling.

Mkango Resources encouraged by drilling results at Malawi rare earths project, 21 Aug 2018 09:13 | Shares Magazine

Mkango Resources encouraged by drilling results at Malawi rare earths project, 21 Aug 2018 09:13 | Shares Magazine: Mkango Resources encouraged by drilling results at Malawi rare earths project
21 August 2018, 09:13Source - SMW
Mkango Resources said it had generated encouraging results from test drilling at its Songwe Hill rare earths project in Malawi.

Highlights from the first eight wells included 147.2m grading 1.6% of total rare earths oxides, the company said.

'These are an excellent first set of results from the current programme and we look forward to announcing results from the remaining approximately 75 drill holes as they become available,' the company said.

Lower Shire Cooperative lands a K177m US grant - The Nation Online

Lower Shire Cooperative lands a K177m US grant - The Nation Online: United States African Development Foundation (USadf), an independent US agency that provides grants,� has given Lower Shire� Rice Secondary Cooperative Society� a grant amounting to $241 738 (about K177 million) to boost rice output.

The grant,� which will be disbursed over a five-year period, will assist the cooperative to procure farm and production� equipment, establish a farm input revolving and crop purchase� fund, training and technical assistance

Salima Sugar Company output to rise 185% - The Nation Online

Salima Sugar Company output to rise 185% - The Nation Online: Salima Sugar Company output is expected to jump by 185 percent to 100 000 metric tonnes (MT) this year from last year’s 35 000 MT, an official has said.

In an interview on Friday, the firm’s chairperson Shirieesh Betgiri attributed the anticipated increased output to good weather and increased hectarage for sugarcane.

New energy policy to boost power sector - The Nation Online

New energy policy to boost power sector - The Nation Online: Cabinet has approved the much-awaited National Energy Policy (NEP), which promises to increase access to affordable, reliable, sustainable, efficient and modern energy services.

However, stakeholders in the energy sector say the policy should deliver on its promises.

Ministry of Natural Resources, Energy and Mining spokesperson Saidi Banda said in an interview on Tuesday the review of the 2003 National Energy Policy was necessitated by several reasons, including the fact that the policy had outlived its five-year lifespan and had several shortfalls

Govt seeks donors in horticulture sector - The Nation Online

Govt seeks donors in horticulture sector - The Nation Online: Govt seeks donors in horticulture sector
Christopher Jimu August 17, 2018 0 Comment
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The Ministry of Agriculture, Irrigation and Water Development has asked development partners to provide money to boost the horticulture sector which has the potential to grow the agricultural sector.

The ministry’s assistant chief agriculture officer (horticulture) Mathias Nkhoma said this on Wednesday in Salima on the sidelines of a four-day market oriented smallholder horticulture empowerment and promotion project (Ma-Shep) technical training for extension staff organised by Japan International Cooperation Agency (Jica).

High prospects for oil in Malawi – Mining & Trade Review | Mining in Malawi

High prospects for oil in Malawi – Mining & Trade Review | Mining in Malawi: July 2018 � by Rachel Etter-Phoya � in Oil & Gas. � High prospects for oil in Malawi By Chiku Jere Exploration work currently being pursued by multinational firms in Malawi’s stretch of the oil rich Great African Rift Valley has unveiled high prospects for oil discovery

Alex Lemon, Mkango Resources Ltd (TSX-V: AIM: MKA) Interview - Share Talk

Alex Lemon, Mkango Resources Ltd (TSX-V: AIM: MKA) Interview - Share Talk: Alex Lemon (Co-founder & President) of Mkango Resources Ltd answers shareholders questions and�gives us an update on major diamond drilling programme that commenced – June 2018 at the Songwe Hill Rare Earths Project (“Songwe”) in Malawi. The drilling programme is a key component of the Feasibility Study for Songwe, which is being fully funded by Talaxis Limited (“Talaxis”), a subsidiary of Noble Group Ltd.

Escom electricity goes up by 7 pct | The Times Group

Escom electricity goes up by 7 pct | The Times Group: Tariff hikes drive commodity prices

Electricity Supply Corporation of Malawi (Escom), has quietly hiked the electricity tariff by seven percent as consumers await the approval of a 60 percent electricity tariff hike.

This means that K1,000, which was buying 18.5 units as at July 14 2018, is now buying 17.6 units

Sovereign Metals recovers high grade rutile at Malingunde in Malawi

Sovereign Metals recovers high grade rutile at Malingunde in Malawi: Sovereign Metals reports the discovery and successful metallurgical separation of high grade rutile (TiO2) from within the soft, saprolite-hosted graphite deposit at Malingunde in Malawi.

Central Africa - Sovereign Metals�is focused on future low-cost production of high quality graphite concentrates at�Malingunde.

Recent test work highlighted the potential to produce rutile as a valuable co-product from
the graphite tailings.

Importantly, clean rutile concentrates are produced via a simple process flow sheet using traditional flotation for graphite and typical mineral�sands separation methods.

“Sovereign Metals is focused on developing the�world-class, low-cost graphite operation at Malingunde," comments Sovereign Metals MD�Dr Julian Stephens.

"The discovery of rutile-leucoxene as a potential�co-product, produced from the graphite tailings via a simple process flow sheet provides the potential for�additional revenue streams and enhanced project value.

Malawi Stock Exchange Monthly Market Performance Report - July 2018

Malawi Stock Exchange Monthly Market Performance Report - July 2018: Malawi Stock Exchange Monthly Market Performance Report - July 2018
Date 14/08/2018

The market transacted a total of 13,787,978 shares at a total consideration of MK590,259,713.23 (US$813,416.67) in 97 trades. In the previous month, June 2018, the market transacted a total of 6,468,082 shares at a total consideration of MK213,441,483.83 (US$294,129.07) in 86 trades. This reflects a 113.17% increase in terms of share volume and a 176.54% (176.55% in US Dollar terms) increase in share value. Of the total shares traded, 10,000,000 NICO shares were traded as a special bargain.

Cama brands Escom most corrupt, inefficient - The Nation Online

Cama brands Escom most corrupt, inefficient - The Nation Online: Consumers Association of Malawi (Cama) executive director John Kapito has branded Electricity Supply Commission of Malawi (Escom) the most corrupt, nonperforming and State captured institution.

The consumer rights watchdog has since urged Escom to improve if it is to effect the tariff hike it is seeking to implement over the next four years.

China advances plan to build $2.5bn Zimbabwe to Mozambique railway - News - GCR

China advances plan to build $2.5bn Zimbabwe to Mozambique railway - News - GCR: China advances plan to build $2.5bn Zimbabwe to Mozambique railway
13 August 2018 | By GCR Staff
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China Railways has proposed the construction of a $2.5bn rail link between the neighbouring states of Mozambique, Zambia, Malawi and Zimbabwe. As with the high-speed, east-to-west links in Kenya and Tanzania, the aim will be to give landlocked countries – and the Chinese companies operating there – access to Indian Ocean ports.
According to the website Macauhub, the “Trans-Zambezi” line was discussed by a delegation from China Railways, headed by Vice President Shao Gang, which flew into Harare at the end of last month

Malawi News Agency Online - Malawi and Zambia sign power supply pact

Malawi News Agency Online - Malawi and Zambia sign power supply pact: Lilongwe, August 10, 2018: Electricity Supply Corporation of Malawi (ESCOM) and Zambia Electricity Supply Corporation (ZESCO) on Wednesday this week signed a power supply agreement which will see Malawi import 20 megawatts (MW) of electricity from Zambia by the end of September, 2018.�

It is largely believed that the signed power supply agreement will boost chances of foreign investors to come and invest in Malawi besides the development reducing hours of power interruption amongst the citizens.

Minister of Natural Resources, Energy and Mining, Aggrey Masi, witnessed the signing ceremony on August 8 (2018) in Lusaka, Zambia between the two power supply institutions.

Briefing the media in Lilongwe on Thursday on his arrival from Zambia, Masi described the power supply agreement as a historical achievement.
“The signed power agreement is a landmark achievement. With these 20 megawatts, we will be greatly assisted,” he said.

Environmental Close Up on Sunday; Inside Malingunde Graphite Project in Lilongwe - The Maravi Post

Environmental Close Up on Sunday; Inside Malingunde Graphite Project in Lilongwe - The Maravi Post: LILONGWE-(MaraviPost)-The Malingunde Graphite Project is one of the country’s mining which will be located approximately 15 kilometers (km) southwest of the capital Lilongwe.

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At the hem of Traditional Authority (T.A) Masumbankhunda, the project is under feasibility studies to determine the viability of a Graphite mine.

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Currently, Sovereign Metals Services is also conducting an environmental and social impact assessment (ESIA), as a requirement by the Environment Management Act (No 19 of 2017).