Mining Poised to Boost Economy

Mining poised to boost economy

Malawi’s mining sector is poised for a boom as the Malawi Chamber of Mines and Energy predicts its contribution to gross domestic product (GDP) to surge to 12 percent by 2027, driven by three major mining projects. Up until 2014 before Kayelekera Uranium Mine (KUM) in Karonga District was put on care and maintenance, the mining sector’s contribution to GDP was at 10 percent, but since then the contribution has dropped to 0.7 percent as of last y…

Lotus eyes African uranium expansion - Australian Mining

Image: ChrWeiss/ stock.adobe.comLotus Resources has announced a campaign to raise $65 million to strengthen the restart of its Kayelekera uranium project in Malawi and advance the development of a “global multi-asset uranium producer” in Botswana. “Firm commitments” are believed to have been received to raise the funds through the issue of 342 million ordinary shares, priced at $0.19, in addition to 1.2 million new shares given to company direct…