Mining & Trade News

As the new administration has completed its first 100 days in office, stakeholders in the minerals sector have acknowledged early positive policy signals in the sector while questioning the absence of concrete reforms, particularly in governance, community protection and Artisanal and Small Scale Mining (ASMs).

Civil Society Organasations working in the sector say the administration has taken a cautious approach, marked more by continuity than decisive reform.

National Coordinator for Natural Resources Jusctice Network (NRJN) Kennedy Rashid, said the government’s performance during the period has been moderate, with limited tangible outcomes.

“The government’s performance during the first 100 days has been moderate but largely cautious. While public messaging has highlighted the importance of mining to economic recovery, tangible outcomes remain limited,” Rashid said.

He said positive signals such as the directive on value addition to minerals have yet to translate into visible actions that improve mining governance, accountability or community outcomes.

Rashid observed that few structural changes have been implemented to restore public confidence, particularly in addressing unlicensed and unregulated ASM activities that continue to affect communities.

He explained that early government statements on investor confidence and the ban on raw mineral exports suggest intent, but deeper reforms remain absent. He cited limited progress on beneficiation frameworks, fair taxation, public disclosure of mining contracts, beneficial ownership transparency and systematic publication of mineral revenue data.

“We have not seen decisive reforms on contract transparency or public disclosure of mining agreements, despite the existence of annual EITI reports,” Rashid said.

He said oversight institutions such as the Malawi Environmental Protection Authority (MEPA) and the Malawi Mining and Mineral Resources Regulatory Authority (MMRA) continue to operate with limited public information-sharing, noting that transparency requires enforceable systems rather than declarations.

For mining-affected communities, Rashid said daily realities remain unchanged, with continued land displacement, environmental degradation, inadequate compensation and weak consultation processes, especially in areas impacted by informal ASM activities.

“There has been no clear improvement in grievance redress mechanisms or community participation, leaving communities excluded from decision-making and disconnected from the promised benefits of mineral extraction,” he said.

Rashid described the absence of a clear reform roadmap within the first 100 days as a missed opportunity saying the government could have outlined timelines for beneficiation, green minerals development, contract review and stronger environmental enforcement.

He called for the immediate publication of mining contracts, licences and revenues, increased state investment through Malawi Mining Investment Company (MAMICO), protection of community rights and the development of a national green minerals’ strategy.

Concerns are more pronounced among ASMs who say recent policy decisions have worsened conditions in the subsector. Percy Maleta, President of the Federation of Artisanal and Small-Scale Mining in Malawi (FASMIM), said the ban on the export of raw minerals has had a direct and negative impact on ASM operations, which depend heavily on export markets. “While we welcome the consultations now taking place around export regulations, these should have come before imposing a ban, not after,” Maleta said.

He said access to licences has deteriorated following the suspension of ASM licence issuance and renewal without clear communication. Maleta added that markets remain constrained, noting that the Export Development Fund focuses mainly on gold and top-grade gemstones, leaving the bulk of ASM production without a structured market.

“The ASM subsector is currently in a worse position than at any other time in the history of gemstone mining and trading in Malawi,” he said.

FASMIM has called for the urgent lifting of the export ban, decentralisation of ASM licensing, technical and equipment support through MAMICO, improved gold purchasing mechanisms and a more human-centred approach to mining policy.

From a development and private-sector perspective, ActionAid Malawi says the government has shown goodwill, but policy gaps remain. In an interview, Project Officer for the Climate Just Transition for Mining-Affected Communities Project at ActionAid Malawi, Charles Finis Phiri, said the government has taken steps to strengthen the legal, regulatory and institutional framework of the mining sector.

“The government has empowered the Ministry of Mining and strengthened the Mining and Mineral Resources Regulatory Authority, which is likely to inspire investor confidence,” Phiri said. However, he said early actions have created both opportunities and uncertainties, particularly for artisanal miners affected by the raw mineral export ban, while beneficiation and formalisation efforts remain slow.

Phiri said processing minerals locally could maximise revenue, foster industrialisation, create jobs and support the establishment of a Sovereign Wealth Fund. He added that coordination gaps persist, especially around community participation, calling for amendments to extend Community Development Agreements to medium-scale operations and strengthen the role of local councils and traditional leaders.

He said the mining sector has the potential to increase its contribution to Gross Domestic Product (GDP) beyond one percent if supported by investment in beneficiation, institutional capacity building, transparency in licensing and revenue management, local participation and infrastructure development.

From a youth and academic perspective, some progress has been acknowledged, particularly in stakeholder engagement and skills development.

Ezala Banda, a mining student at the Malawi University of Business and Applied Sciences (MUBAS) and a member of the Future Miners Network, said government-led sensitisation meetings involving senior officials have helped improve understanding of mining laws, safety and sustainability among community leaders and local stakeholders. “These engagements help communities and youths understand how mining should be done legally and safely,” Banda said.

He said the government’s emphasis on value addition positions mining as a pillar of the Agriculture, Tourism and Mining (ATM) strategy, with potential to create jobs and boost national revenue. However, he noted that youth inclusion remains limited, with few practical entry points beyond formal education, and that internships and employment opportunities remain scarce.

Globally, mining remains a capital-intensive sector whose developmental impact depends on strong institutions, effective regulation, value addition and inclusive benefit-sharing. Countries that align mineral extraction with industrial policy, skills development and community participation tend to achieve broader economic gains, while weak governance often limits the sector’s contribution to sustainable growth.

1. Introduction

Human societies have always depended on minerals for their survival and development. From the Stone Age to the Industrial Revolution and today’s digital economy, each phase of progress has been shaped by the minerals it relied upon. What has changed is not the importance of minerals, but which minerals matter most. In recent decades, a group known as critical minerals has come into sharp focus. Minerals such as rare earths, copper, graphite, and rutile are now needed with global demand expected to double by 2040. Unlike other commodities, CM have supply chains that are geographically concentrated, technically complex, and politically sensitive, making them strategic assets increasingly influenced by geo-politics rather than market forces alone. As major economies move quickly to secure these minerals and setting up well documented strategies, attention has turned once again to African countries including Malawi.  Yet, despite its endowment of CM, Malawi has yet to clearly define its role in this global supply chain. Without a deliberate strategy, the country risks repeating the historical pattern where resource wealth fails to translate into lasting economic benefit.

2. What are CM and why have they become strategic

There is no universally accepted definition of CM. In most developed economies, they are defined as minerals that are essential to advanced manufacturing, clean energy technologies, and defense systems, but whose supply chains are vulnerable to disruption. While these minerals often overlap with those used in renewable energy, CM are frequently and incorrectly treated as synonymous with green energy transition minerals. In truth however, CM extend far beyond renewable energy in fact, around 60% of the minerals listed as critical by the European Union and United States have no direct energy-transition use. Their criticality instead lies beyond their importance but more towards their vulnerability to supply chain disruptions. This narrow framing has increasingly been challenged by mineral-producing countries, particularly in Africa, through a simple but important question: critical to whom? Most global critical mineral lists reflect the needs of importing countries, not the development priorities of mineral rich countries. South Africa, for example, has challenged this narrow view by including coal in its list of CM despite its exclusion from most Western lists. Malawi faces a similar situation. Agro-minerals which Malawi imports such as phosphates and potash for fertilizer production hence at the core of food security, and economic stability, are rarely included in global critical mineral discussions. Yet, from a national perspective, these minerals are more critical than some globally prioritised battery minerals.

Two perspectives therefore dominate the CM debate.

2.1 Importing industrial countires  

The risks of concentrated CM supply became evident in 2010, when China imposed an unofficial restriction on rare earth exports to Japan following a maritime dispute near the Senkaku Islands. At the time, China dominated global rare earth supply, and the disruption led to sharp price increases, exposing the vulnerability of narrowly concentrated critical mineral supply chains. It is against this background that import-dependent industrial economies define criticality primarily in terms of supply security, hence driving policies focused on diversification, stockpiling, recycling and strategic partnerships.  

2.2 Resource rich countries

They have increasingly defined criticality by economic opportunity. They are using mineral endowments for long-term economic resilience, job creation and industrialization. This has led to a push on policies that support downstream investments. Several resource-rich countries have moved beyond simply identifying CM to actively shaping how these resources support national development through deliberate policy choices. One thing stands out CM strategies are shaped by national priorities, not one size fits all global templates.

2.2.1 Asia

Indonesia provides one of the clearest examples of how policy can reshape a mineral value chain. By restricting exports of raw nickel ore and implementing a coordinated industrial policy to support domestic processing, Indonesia has successfully promoted the growth of downstream industries and positioned itself as a global hub for nickel-based battery materials. Mongolia, while operating in a different political and economic context, has also sought to strengthen state oversight and maximise national benefits from its mineral resources through strategic licensing, infrastructure development, and tighter control of mineral exports.

2.2.2 Africa

Across Africa, several countries are beginning to adopt more strategic approaches to CM. Ghana’s green minerals policy emphasizes stronger state participation and align-ment of mineral development with national industrial goals. Ethiopia has focused on tightening licensing regimes and formalising artisanal and small-scale mining to im-prove governance and value capture. Meanwhile, countries such as the Democratic Republic of Congo and Zimbabwe have used export bans or quotas on certain miner-als to encourage domestic processing and increase leverage within global markets.

3. Malawi’s’ strategic role in the global CM value

Malawi’s economy has traditionally been anchored in agriculture, particularly tobacco exports, with mining playing a relatively minor role, contributing less than 1% to the GDP. In recent years however, Malawi is increasingly emerging as a country with significant potential in the global CM landscape. The country hosts a wide range of critical mineral reserves. According to the Malawi Economic Monitor (2025) published by the World Bank, Malawi is estimated to host around 2% of global rare earth element resources. It is also home to the world’s largest known natural rutile deposit and the second largest flake graphite deposit. Furthermore, Malawi’s average uranium concentration per square kilometer is nearly three times the global average. Although most of these discoveries remain at the exploration stage, their scale and diversity are difficult to ignore. Table1: Some of the notable CM projects in Malawi. Modified from malawi economic monitor 2025: The rising cost of inaction

4. Overview of what Malawi’s CM Strategy Could Look Like

Malawi hosts a wide range of mineral commodities, but not all have high potential to advance national economic objectives. While the Agriculture, Tourism and Mining (ATM) strategy identifies mining as a growth sector, effective policy requires prioritization. Limited institutional capacity and capital mean that efforts must focus on CM where Malawi has scale, comparative advantage, and a viable pathway to value creation.

We also need to understand that criticality is not static. Demand shifts as technologies evolve, substitutes emerge, new reserves are developed, and supply chains diversify. In the mid-20th century, tin was essential for food packaging and electronics and was heavily stockpiled by governments. As aluminium and plastic substitutes as well as new technologies reduced tin use, demand declined sharply. By the mid-1980s, prices collapsed, leaving large stockpiles devalued. Mineral endowment alone creates no value; reserves sitting idle generate neither income nor influence. Only extraction, processing, and market integration convert geology into economic benefit.

To realize tangible gains from the current CM cycle, Malawi needs a clearly articulated national CM strategy. This strategy should guide government policy, coordinate institutions, and align investment toward activities that maximize long-term national benefit rather than short-term extraction.

A Malawi-specific CM strategy could be built around the following pillars:

• Strategic mineral prioritization

Malawi must define its own list of CM based on national development objectives, industrial potential, and geological advantage. An adaptive process should be established to regularly review and update this list as markets and technologies change.

• Targeted and predictable policy instruments

Policy tools such as export controls, “use it or lose it” licensing conditions, and fiscal incentives can accelerate exploration and project development when applied in a targeted and predictable manner. Broad, abrupt, or undifferentiated interventions risk discouraging. It is also imperative to account for cross-border policy interactions when designing domestic CM policies. While the goal is Malawi-specific policies, measures implemented without regard to actions taken in neighboring or competing jurisdictions may fail to produce the intended gains.

• State participation and domestic capital mobilization

Institutions such as MAMICO should be adequately funded and strategically deployed to participate in exploration and downstream processing. Policies should also encourage foreign companies to list on the Malawi Stock Exchange to deepen local ownership and mobilize domestic capital.

• Skills development, research, and institutional capacity

A successful strategy requires sustained investment in skills and knowledge. Universities and technical colleges should develop specialized mining related programmes, while fostering R&D. At the same time, government human resource capacity in mineral valuation, revenue management, and contract negotiation must be strengthened.

• Environmental, social, and governance (ESG) leadership

ESG must be treated as a core pillar of Malawi’s CM strategy, economic gains cannot come at the expense of the very same communities we want to uplift, we must prioritize environmental safeguards and community engagement. ESG compliance comes with economic benefits, For example, Malawi can leverage its hydropower potential to position itself as a low-emissions producer of CM which could enhance marketability and competitiveness in international markets.

• Infrastructure development and value addition

CM development must be supported by investment in energy, transport, and logistics infrastructure. Without reliable infrastructure it will be difficult to link CM to markets as well as develop downstream processing and manufacturing. Drawing lessons from other resource-rich nations, value capture lies in midstream and downstream processing and manufacturing, a direction Malawi must take. However, to be successful, downstream positioning must be incremental and selective, not aspirational across the entire value chain.

• Proper Management of Critical Minerals Revenues

A critical minerals strategy must give equal weight to how revenues are captured and managed. Proper mineral valuation and effective revenue monitoring systems are essential to curb illicit financial flows and ensure Malawi receives fair value from its resources. Fiscal discipline and a clear plan for investing critical minerals proceeds into other productive sectors are necessary to diversify the economy and reduce vulnerability to volatile mineral prices.  

• Strategic international partnerships

As a relatively new mining jurisdiction, Malawi cannot achieve its objectives in isolation. Strategic partnerships can attract investment, support technology and skills transfer.

4.1 Existing initiatives

Malawi has already signaled intent through initiatives such as the establishment of the Malawi Mining Investment Company (MAMICO), the plans of creating a sovereign wealth fund, and the ban of raw mineral exports. But intent without strategy achieves little. Recent export bans, implemented without a clear downstream plan, slowed exploration activities while failing to deliver value addition. This is precisely what a strategy is meant to prevent.

5. Conclusion

A successful CM strategy will require discipline, political courage, and patience. It must balance national control with investment momentum, and ambition with realism. The opportunity is real, but it is not permanent. Malawi can either act now with purpose or watch the CM moment pass it by. Additionally, a national critical minerals strategy must move beyond paper and be implemented with urgency. Without action, Malawi will remain policy-rich but outcome-poor. This paper is a call for government, the private sector, development partners, and all Malawians to act together and ensure that Malawi uses its own mineral resources to develop itself sustainably.

ASX-listed Globe Metals & Mining, which is pursuing the Kanyika Niobium Project in Mzimba, has announced that the mine’s first production of saleable oxide is planned for January 2028.

The Kanyika Niobium Project is set to become the first major non-Brazilian niobium producer in more than fifty years.

Globe says in its end of the year update that its updated Bankable Feasibility Study (BFS) is on track for completion by March 31, 2026, laying the technical and economic groundwork for Final Investment Decision (FID), funding, offtake agreements and the mobilisation of construction.

“In the coming year, we expect Kanyika will evolve from a fully permitted plan into a construction-ready, internationally strategic critical-minerals asset,” reads the update.

Globe Metals Interim CEO & CFO Charles Altshuler explains in the update that Kanyika has been designed for phased development, enabling an efficient, lower-risk path to first production while allowing the market to absorb early volumes and support future expansion.

The first phase is designed to deliver roughly one-third of full-scale processing capacity, supported by a solar–diesel hybrid power solution.

“First production of saleable oxide is planned for January 2028, thereby meeting the requirement for an exportable saleable product by March 2028, in accordance with the Mining Licence and the Mine Development Agreement, which require this milestone to be achieved within five years of issuance.

” Phase Two, planned for April 2029, aims to scale the operation to production of 3,000–3,300 tonnes of niobium pentoxide and 150–160 tonnes of tantalum pentoxide annually.

Globe says this staged approach reduces upfront capital risk, accelerates cash flow, and aligns its expansion with customer qualification and long-term market demand.

The Company will develop the Kanyika Project as a conventional open-pit operation with a low strip ratio. Ore will be mined and crushed on site to a suitable size for processing, eliminating the need to transport run-of-mine material off site and ensuring value addition begins at the mine.

Crushed ore will be processed through an on-site beneficiation circuit using established physical separation techniques to concentrate the niobium and tantalum minerals. This removes most waste material at site, significantly reducing mass before further processing. The upgraded concentrate will then be treated in an on-site hydrometallurgical plant using proven, industry-standard technology to produce saleable niobium oxide (Nb?O?) and tantalum oxide (Ta?O?).

”The processing route is well understood and commercially proven,”  Altshuler says. Final products will be packaged on site and containerised for transport. Only finished niobium and tantalum oxide products are exported, and these materials are non-radioactive.

Globe stresses that no radioactive ore, concentrate, or waste material is transported off site. It says producing a high-value, low-volume product at the mine gate avoids bulk transport and allows efficient export using existing road and port infrastructure, enabling near term logistics readiness without reliance on rail megaprojects.

Global markets and supply

Global niobium supply remains critically constrained, with more than 90% sourced from a single Brazilian producer, leaving the west 100% reliant on imports. Demand continues to surge, driven by aerospace, defence, hypersonic platforms, superconductivity, batteries and advanced manufacturing.

Kanyika is poised to emerge as one of the few new suppliers of high-purity niobium oxide, integral to support global markets in national-security and advanced technology supply chains. Altshuler explains that the mine–concentrator– refinery integration inside Malawi is a key strategic advantage, enabling Globe to supply high-purity Nb?O? instead of ferroniobium, thus meeting the needs of end-users requiring full traceability, ESG compliance and conflict-free provenance.

“Globe is entering the new year with a clear path to construction, strengthened financial capacity, solid government and community partnerships, and an international relevant project capable of reshaping niobium supply chains outside Brazil. Kanyika stands to become the first major new niobium pentoxide producer in fifty years, playing a critical role in the future of aerospace, defence, clean energy and advanced manufacturing,” he says.

The Malawi Government has opted for engagement meetings with stakeholders across the country including small scale mining communities in order to address the proliferation of illegal mining.

Illegal mining, mainly by Artisanal and Small-scale miners targeting gold and gemstones, has become rife in the country with miners using unsustainable mining practices that is resulting in serious environmental degradation in several Artisanal and Small-scale Mining (ASM) hotspots.

The illegal ASM practices has mainly affected districts such as Kasungu, Lilongwe, Nkhotakota, Zomba, Chiradzulu, Balaka, Machinga, Phalombe, Nkhata Bay, Karonga.

The miners are mainly using unsafe mining practices, which have resulted in fatal accidents leading to deaths with the latest fatalities reported in Kasungu where a dozen of ASMs have perished.

In an effort to address the worrying situation, the Malawi Mining and Mineral Resources Regulatory Authority (MMRA) in collaboration with the Department of Mines organized sensitization and consultative meeting at Sun and Sand in Mangochi, which attracted participants from Balaka, Machinga, Mangochi, Zomba, and Phalombe.

The meeting which attracted District Council members and traditional leaders discussed strategies to curb illegal and unsafe mining and promote responsible mining practices in the Southern Region.

The Southern Region meeting came after the Ministry had conducted similar meetings in Northern and Central Regions.

Speaking during the meetings, Director of Administration in the Ministry of Natural Resources, Energy and Mining Andrew Chisamba highlighted that the engagement was prompted by a series of mining-related accidents that have occurred across the country, resulting in the loss of lives.

“What prompted these consultative meetings are accidents that have occurred so far in the country and the lives that have been lost in the process, all due to illegal and unsafe mining. As a department, we felt we could not just sit back but take action, starting with consultative meetings with key stakeholders at district level,” said Chisamba.

MMRA Director General Mphatso Chikoti emphasized that traditional leaders and district structures play a critical role in identifying illegal mining activities and promoting safe and lawful mining practices within their communities.

Paramount Chief Chiikulamayembe appealed to MMRA and the Department of Mines to maintain the engagement model, noting that involving chiefs and local leadership enhances community awareness, compliance, and collective responsibility in addressing illegal and unsafe mining.

Minister of Natural Resources, Energy and Mining, Honourable Dr Jean Mathanga MP has assured the World Bank Group that the government is committed to ensuring that both mining and energy sectors are working for the benefit of the people.

Speaking during the meeting with the World Bank group officials, Dr Mathanga said the two sectors are the lifeline of the Malawi economy, hence she is working tirelessly to improve their efficiency in the best interest of Malawians.

She said: “Energy is topping Malawi's agenda, knowing that no manufacturing can take place without its sufficiency. Today, I am happy that the World Bank has committed to helping us raise funds so we can have more money to improve the sector.”

“World Bank will share Malawi's story with other development partners who can help Malawi improve the sector. On Mining, World Bank will help us with technical support so that it is more organised than now, though we are doing more but not enough.”

Dr Mathanga commended the World Bank for its significant support in improving the energy sector through financing large projects like Malawi's Mpatamanga Hydropower.

The delegation that was led by World Bank’s Practice Manager Energy Eastern and Southern Africa Yadviga Semikolenova and World Bank Country Manager for Malawi Firas Raad encouraged Malawi to make use of Mission 300, which aims to bring electricity to 300 million Africans by 2030 through African leadership, increased funding, and accelerated partnerships.

Mission 300 is a collaborative initiative led by the World Bank Group (WBG) and the African Development Bank (AfDB) to provide electricity access to 300 million people in Sub-Saharan Africa by 2030, aiming to boost development through grid and off-grid solutions, attract private investment, improve energy infrastructure, and support clean cooking.

“We are ready to ensure that Malawi has sufficient energy that is needed to everyone. What I can say is that Malawi has done better in the energy sector, and you need to work hard for this to continue. As I said World Bank will support Malawi in many ways, including telling good stories to other partners,” said Semikolenova.

On his part, Raad said the support for the energy sector demonstrates the bank's commitment to help the country's policies in the sector, saying the bank is also ready to bring sanity in the Mining sector by bringing technical support, among others.

He said, “World Bank will continue supporting Malawi's energy and mining sectors, to boost clean energy and grid capacity, while also providing diagnostics and recommendations for sustainable mining growth, focusing on better governance and leveraging mineral potential, addressing skills gaps, and enhancing economic development through reliable power and resource management.

In a related development, the Norwegian Embassy delegation also paid a courtesy visit to Honourable Dr Mathanga MP The delegation was led by Norwegian Ambassador to Malawi Anne Sofie Bjelland, and Nina Camilla Lande, First Secretary, Agriculture, Food security, Climate change and Environment.

Speaking during the meeting, Dr Mathanga said Norway and Malawi share a strong, long-term partnership focusing on development, with Norway aiming to build Malawi's capacity and improve citizens' lives.

The Minister said Norway has been providing significant support to Malawi in the environment and energy sectors, primarily focusing on clean, reliable hydropower and renewable initiatives and in the mining sector, Norway’s support primarily focuses on improving governance, transparency, and regulation.

- Department of Mines -

WORLD BANK’S IFC TO COLLABORATE WITH SOVEREIGN ON SUSTAINABLE DEVELOPMENT FOR KASIYA

Sovereign Metals has signed a strategic collaboration agreement with the World Bank’s International Finance Corporation (IFC) to advance the sustainable development of its Kasiya Rutile-Graphite Project in Malawi.

Under the agreement, IFC will use its expertise to help Kasiya align its environmental, social, and governance standards to global best practice, complementing Sovereign's team and supplementing input from Sovereign’s strategic partner Rio Tinto on the development of an Environmental and Social Impact Assessment (ESIA).

The three-year collaboration also gives IFC, which is the largest global development institution focused on the private sector in developing countries, the right to act as lender or mandated co-lead debt arranger, and/or investor in securities for project financing, subject to Rio Tinto’s investment agreement rights.

Sovereign’s Chairman Ben Stoikovich said: “IFC brings unmatched advantages to Kasiya's development: decades of experience in Malawi, including in the strategic infrastructure we intend to use; established government partnerships; and the institutional credibility that opens doors to international capital markets. This collaboration provides Sovereign with a clear pathway to financing while supporting Kasiya to meet the global standards that institutional investors require.”

Sovereign’s CEO Frank Eagar commented: "We are incredibly pleased to get IFC involved at this stage, as this will support our definitive feasibility study (DFS) and ESIA efforts to be aligned with IFC’s Environmental and Social Performance Standards, seeking to make the Kasiya project DFS not just feasible but also bankable. Having IFC’s support validates Kasiya's exceptional quality and strategic importance and takes us one step closer to project execution. The World Bank Group’s support for key enabling infrastructure, including the Nacala transport corridor and the Mpatamanga Hydropower Project, are expected to benefit the Kasiya project.”

About Sovereign Services

Sovereign Services is the Malawi operation of Sovereign Metals Limited, which is focused on developing its Kasiya Rutile-Graphite Project in Malawi to become a leading global supplier to the titanium and graphite industries.   Kasiya is the world’s largest natural rutile deposit – the purest, highest-grade naturally occurring titanium feedstock – and the world’s second-largest flake graphite deposit – a battery mineral essential for the energy transition. www.sovereignmetals.com.au  

About the International Finance Corporation (IFC)

The IFC has decades of experience in the metals and mining sector, financing some of the world’s largest and globally strategic mining projects across all stages, including construction, production, and expansion. As both a long-term equity partner and debt provider to major mining companies, including Sovereign’s strategic investor, Rio Tinto, IFC has supported large-scale mine developments and expansions across multiple continents. In fiscal year 2025, IFC committed a record US$71.7 billion to private companies and financial institutions in developing countries, with a total portfolio of US$68.5 billion as of 30 June 2025, demonstrating its commitment to financing major projects worldwide. www.ifc.org  

About the World Bank in Malawi

The World Bank Group has a significant presence in Malawi through a Country Partnership Framework that supports the government's Malawi 2063 Vision. Its activities include financing major enabling infrastructure like the Mpatamanga Hydropower Project, which is Malawi’s largest energy infrastructure project to date. IFC also previously played a role in mobilizing financing for the Nacala transport corridor, which extends through Malawi. The Kasiya Project is expected to directly benefit from these strategic infrastructure assets. www.worldbank.org – Langmead and Baker

Yami Gemstone Lab & Exports Pvt Ltd (YAGLE) has urged government to adopt a phased and strategic rollout of the ban on unprocessed gemstone exports, arguing that the current blanket prohibition will not deliver the intended value addition benefits to the countrywithout major reforms in financing, training and processing capacity.

YAGLE CEO Yamikani Jimusole said that while the goal of boosting local beneficiation is commendable, the country is not yet equipped to meet the demands of full-scale domestic processing.

“We are calling for a roadmap that builds capacity step by step to ensure that the sector can transition smoothly and sustainably,” he said.

Jimusole suggested that government begin by requiring only a small percentage of gemstones to be processed locally. The proportion should increase progressively as infrastructure, expertise and equipment improve.

“We believe such an approach would avoid shutting miners out of the market while allowing the industry to grow.”

Investment in infrastructure and skilled labour forms another major pillar of the company’s proposals. Jimusole argues that Malawi currently lacks cutting and polishing centres, master cutters and training programmes required for competitive value addition.

“The government should work closely with the private sector and international partners to establish modern processing facilities and technical training centres as public-private partnerships can play a key role in accelerating this development,” he said.

He suggested that reforming the Export Development Fund (EDF) should also be a priority because the EDF’s current focus of buying rough stones without supporting value addition does not align with national goals.

“There should be a restructuring of the Fund to offer affordable loans, grants and subsidies specifically targeting equipment purchase, start-up processing businesses and training initiatives. This shift would empower miners and dealers to participate in value addition rather than remain dependent on rough gemstone sales,” he said.

To attract investment into local processing, Jimusole recommends incentives such as tax breaks or reduced export duties for value-added stones. These measures would encourage miners, traders and new investors to establish cutting and polishing operations inside Malawi rather than exporting solely in raw form.

Jimusole also calls for stronger monitoring systems to curb illegal exports and ensure compliance once the ban is phased in.

“YAGLE suggests the adoption of technology-driven tracking tools to boost transparency across the gemstone supply chain and prevent smuggling”.

Despite concerns about the current policy framework, YAGLE shares government’s long-term vision of developing a strong domestic gemstone manufacturing industry.

Jimusole says the recommendations are designed to help Malawi reach that goal without destabilizing miners’ livelihoods or crippling the industry.

“With the right policies, investments and partnerships, the country can eventually achieve its goal of value addition, but the current ban in unprocessed gemstone exports is not the solution, at least not yet.”

• Furtuna Metals unveils high grade drill results

ASX-listed Fortuna Metals has unveiled exciting exploration results from its Mkanda Rutile-Graphite Project in Mchinji, Central Malawi which is adjacent to Sovereign Metals owned, Kasiya Rutile-Graphite Project hosting the world’s largest rutile deposit and second largest flake graphite deposit.

Fortuna says in a Press Statement announcing the results that  the first results of hand auger drilling confirms insitu rutile grades of up to 2.21% rutile and continuous drill intervals of 1.66% rutile over 10m and 1.32% rutile over 10m at its Mkanda Rutile Graphite Project.

The drilling results demonstrate that high grade rutile continues from surface to end of hole, with 4 drill holes ending in mineralisation above 1.0% rutile, and 9 of the 10 drill holes ending in mineralisation above 0.5% rutile. These 10 drill holes were selected for priority assay as a first pass to highlight the wide spread nature of the rutile mineralisation at Mkanda.

The Company has now completed 544 drill holes on a notional 800 and 400m spacing across 180km² of the Mkanda project. The purpose of the drill spacing is to define the highest grade rutile mineralisation ahead of further infill and step out drilling in 2026 whose results will be received throughout first quarter of 2026.

Fortuna CEO Mr Tom Langley comments: “We are looking forward to starting aircore and push tube drilling as soon as possible in early 2026. This will allow us to determine rutile mineralisation continuity to the saprock boundary at plus ~20m. This would be in line with the Kasiya deposit which averages ~20-30m depth to saprock and significantly increases the resource potential and overall project economics.”

“We continue to progress our exploration drilling at a rapid pace having now completed 544 drill holes at Mkanda and will continue to drill up until year’s end. We look forward to updating the market with a consistent flow of these drilling results throughout first quarter of 2026.”

Project Background

The Mkanda and Kampini Projects extend over an area of 658km² and are located immediately to the south of Sovereign Metals Limited’s world class Kasiya rutile project.

Drilling programs at Mkanda and Kampini are continuing with a total of 544 drill holes with an average depth of 8m having been completed at Mkanda. The drilling is designed as a first pass reconnaissance to investigate large areas across the project for potential rutile and graphite mineralisation. The hand auger drilling to date is averaging 8m with drillholes terminated as sample quality declines once in the water table. Drilling next dry season will use an aircore drill rig from approximately April/May 2026 to infill the highest-grade areas as defined by the hand auger results. The use of aircore drilling is critical to be able to drill past the perched water table and deeper down to the saprock boundary. The saprock boundary has been defined at Kasiya to be about 20 – 30m depth. The Aircore drilling will be key to demonstrating the resource potential at these greater depths and vastly improve the project economics.

The second phase of drilling currently underway at Mkanda consists of a dual strategy of further wide spaced reconnaissance drilling on an 800m grid and infill drilling on a tighter 400m spacing based on visual results and geological logging.

A 400m by 400m drill spacing is expected to meet the required drill density for inferred resource estimation, with Sovereign Metals using a 400m by 400m drill spacing for their inferred resource at Kasiya.

Fortuna’s projects cover the majority of the 70km strike extent of the same Lilongwe Plain weathered gneiss that hosts the rutile and graphite at Kasiya.

Graphite analysis is being undertaken in parallel as part of the dual mineral commodity focus given the coarse flake graphite known to occur in the region.

The Company is setting up a low cost in-country laboratory for the initial steps of preparing the sample for heavy mineral separation (HMS).

Natural rutile is the highest quality and best source of titanium feedstock for manufacturing titanium metals and TiO2 pigment. Traditional deposits are becoming exhausted with legacy producers in decline, with an anticipated tight supply and industrial demand growth expected to drive strong future prices.

State President Arthur Peter Mutharika has appointed a new Board for the Mining and Mineral Resources Regulatory Authority (MMRA).

A Press Release from the Office of the President and Cabinet indicates that Mutharika has appointed Professor Zuze Dulanya as the Board Chairperson, Dr. Grain Malunga as Vice Chairperson and Mr. Smith Kalima, Mr. Newton Munthali and, Mr. Fesisa Rose as Members of the Board.

The Authority whose Director is Mr. Mphatso Chikoti was established under Section 5 of the Mines and Minerals Act (No. 25 of 2023) as an independent regulatory authority for mining and mineral resources in Malawi.

Following the repeal of the Mines and Minerals Act of 2019 and the enactment of the Mines and Minerals Act of 2023, the Authority regulates the mineral sector in the development and utilization of mineral resources in line with sustainable development principles and practices and for the benefit of Malawians.

The Authority is entitled to sustainable development principles and practices of: monitoring the activities of licenses while promoting and regulating local beneficiation; promoting the harmonization of activities, plans and, policies and; facilitating disputes resolution.

Professor Dulanya is a prominent Malawian geologist and Associate Professor at the University of Malawi while Dr. Malunga is former Cabinet Minister and current Coordinator for Malawi Chamber of Mines and Energy.

Mutharika, who has announced various board appointments for state-owned institutions, is, however,  yet to appoint Board Members for the Malawi Mining Investment Company (MAMICO) which is a state owned enterprise established by the Government to spearhead the development and investment in the country’s mining sector.

The Company operates under the Malawi Development Corporation Holdings Limited (MDCHL) and is part of the Government’s broader strategy to industrialize Malawi, reduce reliance on agriculture and boost Foreign Direct Investment (FDI) in mining.

MAMICO which is currently headed by Professor Dr.Leonard Kalindekafe as Chief Executive Officer was launched in February 2025 marking a significant milestone in Malawi’s efforts to fully capitalize on its rich mineral resources.

The company is seen as a game charger in Malawi Vision 2063, where mining is identified as a priority sector under the industrialization agenda.