Malawi could generate up to $30 billion from mineral exports by 2040, with revenues expected to reach $3 billion annually by 2034. The growth of the mining sector is projected to boost the country’s GDP significantly. African Mining Week will connect stakeholders and investors, supporting new projects such as Kayelekera Uranium and Kasiya Rutile-Graphite, positioning Malawi as a key player in the global minerals market.
Malawi stands to generate approximately $30 billion from mineral exports between 2026 and 2040, with anticipated annual revenues reaching $3 billion by 2034, as projected by the World Bank. This growth is expected to elevate the mining sector to represent 12% of Malawi’s GDP by 2027, spurred by new initiatives and the enhancement of existing projects. The forthcoming African Mining Week in Cape Town is set to facilitate connections among local stakeholders and international investors, ultimately accelerating investment and development within the sector.
In 2025, Malawi witnessed significant growth in the mining industry, as global partners hasten exploration and production efforts under the country’s Agriculture, Tourism and Mining Strategy aimed at attracting new investments. Notably, Australian company Lotus Resources secured a $38.5 million investment from South African banks for the Kayelekera Uranium Project. This funding not only prepares the project for operations but also positions Malawi prominently as a competitive uranium producer amid rising worldwide demand.
Sovereign Metals, with support from Rio Tinto, is expediting development of the Kasiya Rutile-Graphite Project, which boasts the world’s largest known rutile resource and the second-largest flake graphite reserve globally. Findings from a February 2025 study confirmed the mine’s suitability for refractory applications, while a January feasibility study indicated potential revenues of $16.4 billion. Allocated with $665 million for project development, Kasiya is projected to become a significant revenue source for Malawi as demand grows for sustainable high-quality minerals.
In the rare earths sector, Lindian Resources of Australia is actively seeking investment partners for the Kangankunde Rare Earths Project, furthering project timelines through a $1.3 million contract awarded for infrastructure development. As rare earth elements are crucial for high-tech industries and clean energy applications, the project strengthens Malawi’s global supply chain presence.
Additionally, a joint venture established in January 2025 between Kula Gold and African Rare Metals for the Wozi Niobium Project aims to accelerate development by sharing expertise and resources. With a drilling program planned to commence in Q2 2025 following their exploration license application, the project is positioned to generate significant foreign currency earnings for Malawi, given the increasing demand for niobium in steel production.
The upcoming African Mining Week is poised to facilitate discussions for partnerships, linking Malawi’s mining sector with worldwide investors and showcasing its expanding potential in critical minerals. Amid the growing focus on reliable mineral sources for energy transitions, Malawi’s wealth of uranium, graphite, niobium, and rare earths presents an attractive opportunity for international stakeholders seeking durable partnerships. The event coincides with the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town.
Malawi is on the cusp of significant economic development driven by its mineral exports, anticipated to reach $30 billion by 2040. The participation in African Mining Week will foster vital connections between local stakeholders and global investors, facilitating the progression of several key mining projects. With a strategic focus on enhancing critical minerals production, Malawi is well-positioned for international investment and growth in the sector.
Original Source: energycapitalpower.com
