Global Firms Target Malawi’S Us$30 Billion Mineral Boom

Malawi could generate up to US$30 billion from mineral exports between 2026 and 2040, with annual revenues expected to hit US$3 billion by 2034, according to the World Bank. The financial institution projects the sector to account for 12% of the country’s GDP by 2027, driven by new projects and the expansion of existing production initiatives. As prospects within Malawi’s mining industry continue to grow, the upcoming African Mining Week in Cape Town, will serve as a key platform to connect Malawian stakeholders, regulators and global investors, driving investment inflows and fostering strategic collaborations to accelerate sectoral development.

Malawi has recorded several industry growth milestones in 2025, with global partners expediting exploration and production projects in line with the country’s Agriculture, Tourism and Mining Strategy, designed to attract new investments for economic growth. Last month, Australian company Lotus Resources secured US$38.5 million in funding from South African banks First Capital Bank and Standard Bank for its Kayelekera Uranium Project. This financing injection not only supports operational readiness, but also enhances Malawi’s positioning as a competitive uranium producer amid rising global demand. With the funds providing working capital and supporting the firm’s equipment procurement, the development marks a huge milestone for the project, ahead of a planned Q3 2025 first production target.

Sovereign Metals, supported by Rio Tinto, is fast-tracking the Kasiya Rutile-Graphite Project, home to the world’s largest known rutile resource and the second-largest flake graphite reserve. A February 2025 test conducted by the firm confirmed the mine’s suitability for refractory applications, while a January 2025 feasibility study projected US$16.4 billion in revenue potential. As global markets increasingly seek sustainable sources of high-quality rutile and graphite, Kasiya is well-positioned to become a pivotal supplier, meeting rising industrial and green energy needs. With US$665 million allocated for project development, Kasiya is expected to become a major revenue generator for Malawi.

In the rare earths sector, Australia’s Lindian Resources is seeking to attract new investment partners for its Kangankunde Rare Earths Project. The company recently awarded a US$1.3 million contract to Mota-Engil to develop infrastructure and carry out civil works, advancing project timelines. With rare earth elements playing a crucial role in high-tech industries, clean energy and defense applications, this project strengthens Malawi’s position in the global supply chain.

In January 2025, Kula Gold and African Rare Metals established a joint venture (JV) for the Wozi Niobium Project to accelerate project development through expertise and shared capital. The JV has applied for an exploration license, with plans for fieldwork, sampling and a US$100,000 drilling program beginning in Q2 2025. Given growing demand for niobium for steel production, the project is poised to generate substantial foreign exchange earnings for Malawi.

Amid these developments, African Mining Week will provide a platform for deal-making and partnerships, connecting Malawi’s mining sector with global investors and showcasing the country’s growing potential as a hub for critical minerals. With an increasing focus on securing reliable mineral supplies for the energy transition, Malawi’s rich deposits of uranium, graphite, niobium and rare earths present a unique opportunity for international stakeholders seeking long-term, stable partnerships.

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