Mozambique says it is ready to work with Malawi to explore oil on Lake Malawi.
Mozambican Minister of Foreign Affairs and Cooperation Oldemiro Julio Baloi said this in an interview at the 12th Malawi and Mozambique Joint Permanent Commission of Cooperation (JPCC) meeting in Lilongwe on Wednesday.
â€œMozambique is ready to work with Malawi in mineral exploration, including oil on Lake Malawi,â€ said Baloi.
Malawi issued a license to explore oil on the lake to a British company, Surestream Petroleum.
But Baloi said issues of mineral exploration are sensitive, especially when carried out along the borders of two or more countries; hence, the need for experts to work together.
Â â€œThere are issues of environment impact assessment impact before mineral extraction is done,â€ said Baloi.
He, however, said the two countries have not yet started working together as they are awaiting advice from their experts.
Mineral experts from Malawi and Mozambique have teamed up to advise their countries how they can work together in extracting minerals along their borders.
Minister of Foreign Affairs and International Cooperation Ephraim Chiume agreed that the two countries want to work together to explore minerals along their borders.
â€œWe are working together with Mozambique in many areas, including transport, energy, environment and agriculture. The progress made is significant because for Malawi to develop it needs the support of Mozambique,â€ he said.
Chiume said Malawi believes trade and investment are catalysts for sustainable economic growth and that if the two countries work together in all sectors, development can be fast tracked.