By Staff Reporter
President Dr. Lazarus McCarthy Chakwera, has on Tuesday officially reopened the Kayelekera Uranium Mine, under new terms, at an inauguration ceremony held at the Lotus Africa Limited mining site, in Karonga.
In his speech President Chakwera hailed the reopening and reiterated his campaign manifesto commitment to utilize the proceeds of the mining sector, including those from Kayelekera Mine, in the establishment of the Sovereign Wealth Fund, which among other benefits will include a “Tsogolo Lathu” fund, that will see an investment of 500 000 Kwacha set aside for every child.
President Chakwera also reiterated his Agenda 2963 commitment to make Malawi a self reliant nation, which can only be achieved through investment in the agriculture, tourism and mining sectors, as this will stimulate production, generate much needed forex, create jobs and the economic growth with a middle income country.
Mike de Costa, Chief Operating Officer of Lotus Africa Limited echoed these benefits and applauded the government’s ATMM strategy, adding that these sectors will fast track Malawi’s development goals and has profoundly facilitated the realization of the reopening of the mine.
He added that the project is about “renewal”and indicates that Malawi is open for business and investment.
De Costa emphasized that Kayelekera is a significant mining project globally and not just for Malawi, adding that it is about job creation and facilitating inclusivity of women and children in employment.
Furthermore he stated that the direct financial gains of the project will belong solely to the Malawi government and remain in Malawi.
The project will employ at least 600 000 staff – 90 percent of whom will be indigenous Malawians.
Minister of Mining Hon. Kenneth Zikhale Ng’oma attests that the reopening of Kayelekera Mine is testament to President Chakwera’s commitment to overhauling Malawi’s economic trajectory and the maximization of Malawi’s natural resources for the benefit of all Malawians.
He added that it is under the guidance of President Chakwera that the Kayelekera Mining Project deal has been re-negotiated to ensure optimum benefit to Malawians and accountability.
The new agreement stipulates the use of local suppliers and the inclusion of women under the new compliance regulations.
It also offers youth the opportunity to gain employment from the project and indeed attain career growth.
The Kayelekera Mine was decommissioned over ten years ago in 2014, due to low Uranium prices and its revival seeks to reinvigorate Malawi’s mining sector and profoundly boost the country’s economy.
Lotus Africa Limited assumed ownership of the mine in 2020, when they began negotiations with the Malawi government to reopen the site but under new terms put forward by the Chakwera administration
