The government of Malawi has aligned its Mining Regulations and new Petroleum Policy to the Africa Mining Vision (AMV), Footprint to Africa reports.
The AMV is the continent’s response to tackling the paradox of great mineral wealth existing side by side with pervasive poverty on the continent.
Adopted by African heads of state in 2009, the AMV outlines the roadmap to transparent, equitable and optimal exploitation of mineral resources for the sustainable growth and socio-economic development in Africa.
Malawi’s Ministry of Natural Resources, Energy and Mining and the African Minerals Development Centre (AMDC) brought together government, civil society, industry operators and other private sector players to review the country’s Mines and Minerals Act of 1981 at a meeting in Addis Ababa, Ethiopia.
Fatima Haram Acyl, Commissioner for the Department of Trade and Industry at the African Union Commission noted that Malawi’s efforts are within a larger context of a historic paradigm shift where African states are deepening their understanding of the value of minerals by looking into fiscal, downstream, upstream, knowledge and spatial linkages in the mineral sector management frameworks.
The meeting also discussed mineral governance frameworks and the process of passing the bill by Malawi lawmakers.
The United Nations Economic Commission for Africa (ECA) pointed out the importance of the alignment in unlocking Malawi’s potential as a major mineral-driven economy.