Malawian President Mutharika bans raw minerals export
Malawi’s President Peter Mutharika has banned the export of raw minerals, stating the country could earn up to $500 million annually if mining at the Kasiya rutile site in Lilongwe and the Kangankunde rare earth site in Balaka is properly managed.
He says all minerals should undergo value addition in Malawi, before being exported.
Meanwhile, a number of African countries have lost millions of dollars in potential revenue by selling minerals in their raw form.
Recently, President Hakainde Hichilema underscored the importance of adding value to minerals before exporting them.
Zambia’s rich mineral resources are extracted by both large-scale and small-scale enterprises.
And with a century-long mining history, the sector is a cornerstone of the Zambian economy, contributing 12% to GDP and 70% of export earnings in 2020.
Apparently, renowned Zimbabwean investigative journalist Hopewell Chin’ono says the move by the Malawian President is the way to go for Africa.
He says Africa continues to lose billions, if not trillions, through the export of raw minerals and materials instead of processing them locally and benefiting from the full value chain.
Chin’ono writes: This is absolutely the right thing to do. Africa continues to lose billions, if not trillions, through the export of raw minerals and materials instead of processing them locally and benefiting from the full value chain.
In Zimbabwe, they are foolishly allowing raw chrome to be shipped to China, losing billions that could have created jobs, developed industries, and strengthened the economy.
This old man is truly proving many of us wrong — those who thought his age would be a hindrance. He is showing wisdom, clarity, and vision in leadership.
More life to him. Well done, Malawi — this is how nations build wealth and secure their future. These should not just be words, we want to see action!
I hope they will create the value addition infrastructure, then the ban comes into effect to avoid gaps where they are stuck with raw goods that they can’t process and can’t sell.