Chief mining engineer and head of oil and gas section in the Ministry of Natural Resources, Energy and Mining Casius Chiwambo has said the country’s mining sector potential is still great and attractive following successful mineral exploration.
Chiwambo said as a result, government is working on reintroducing an independent statutory corporation—the Mineral Development Corporation (Midcor)—to take part in investment decisions on behalf of government.
He said this in response to the granting of a further two year renewal for Exclusive Exploration Licence (EPL) for Mkango Resources Limited at Thambani in Neno District from September 8 2017.
In a press statement published on its website, the Canadian dual TSX-V and AIM-listed mineral exploration and development company said the main exploration targets in the Thambani licence are uranium, niobium, tantalum, zircon and other associated minerals.
“[The firm] is “currently evaluating strategic options for Thambani including opportunities to joint venture or spin-off the project, and other potential avenues to create value,” the statement reads in part.
Chiwambo said the potential in the sector is still great and attractive.
“Remember that this is an EPL which is meant for purely exploration. It is not a tendency of governments, and this includes Malawi, to take part in exploration works apart from conducting Airborne Geophysical Surveys and possibly mapping exercises”.
Mkango Resources Limited president Alexander Lemon said in May 2017 results of the company’s exploration at Thambani further support its exploration potential.
“Not only are the uranium results highly encouraging, but the equally positive tantalum and niobium results support that Thambani has significant multi-commodity potential,” he said.
Mkango Resources Limited holds, through its wholly owned subsidiary Lancaster Exploration Limited, a 100 percent interest in two exclusive prospecting licences in southern Malawi, the Phalombe licence and Thambani licence. n