Malawi is set to realize $30 billion in mineral exports from 2026 to 2040, with projected revenues of $3 billion annually by 2034. The sector will significantly contribute to GDP and aims to attract global investments. Key projects include Kasiya Skulptin, Kangankunde Rare Earths, and Wozi Niobium, with funding from international partners driving development, showcased during the African Mining Week.
Malawi is poised to generate approximately $30 billion from mineral exports from 2026 to 2040, with projected annual earnings reaching $3 billion by 2034, according to the World Bank. The mineral sector is expected to contribute 12% to the nation’s GDP by 2027, facilitated by new projects and the expansion of existing initiatives. The upcoming African Mining Week in Cape Town will act as a crucial networking platform, linking Malawian stakeholders, regulators, and global investors to boost investment and collaboration in the sector.
In 2025, Malawi achieved significant milestones in its mining industry, driven by partnerships that fast-track exploration and production in line with the Agriculture, Tourism, and Mining Strategy aimed at economic development. Australian firm Lotus Resources secured $38.5 million from First Capital Bank and Standard Bank for its Kayelekera Uranium Project. This funding enhances operational readiness and positions Malawi to become a competitive uranium producer amidst rising global demand, targeting first production in Q3 2025.
Sovereign Metals is advancing the Kasiya Rutile-Graphite Project, which hosts the largest known rutile resource globally and the second-largest flake graphite reserve. A February 2025 test affirmed the mine’s suitability for refractory applications, while a feasibility study in January 2025 estimated $16.4 billion revenue potential. With $665 million allocated for development, Kasiya represents a key revenue source as demand for sustainable industrial materials grows.
In the rare earths sector, Lindian Resources is attracting investments for the Kangankunde Rare Earths Project, recently awarding a $1.3 million contract to Mota-Engil for infrastructure development. Rare earth elements are essential in high-tech and clean energy sectors, positioning Malawi favorably within global supply chains. Additionally, a joint venture between Kula Gold and African Rare Metals aims to expedite the Wozi Niobium Project’s development, securing an exploration license and commencing a drilling program in Q2 2025 to enhance foreign currency earnings from niobium amid growing steel production needs.
With these developments, African Mining Week will facilitate partnerships and investment opportunities, highlighting Malawi’s potential as a hub for critical minerals. The focus on stable mineral supply sources for the energy transition underscores the importance of Malawi’s uranium, graphite, niobium, and rare earth deposits for international stakeholders, looking to forge long-term partnerships. This premier event will coincide with the African Energy Week: Invest in African Energies 2025 conference, held from October 1-3 in Cape Town.
Malawi is on the brink of substantial economic growth through its mineral exports, with projections indicating a potential $30 billion revenue from 2026 to 2040. Key projects in uranium, rutile-graphite, and rare earths are advancing through significant investments, positioning Malawi as a vital player in the global mineral market. The upcoming African Mining Week will further enhance opportunities for collaboration and investment in Malawi’s mining sector.
Original Source: energycapitalpower.com
