K5 billion seed money is needed to establish a national mining company that will help propel mining activities in the country.
The proposal for a national mining company follows after government plans to make mining the major source of income, replacing tobacco. “It is the desire of the ministry to have the company in place to help address challenges in the (tobacco) industry” said the acting director of the Department of Geological Survey, “A number of mines have failed to open for a number of reasons and the State-owned company will help to ensure that mines are developed.”
Meanwhile, the United States Food and Drug Administration (FDA) plans to ban menthol as a characterizing flavor in cigarettes and ban all characterizing flavors altogether, based on evidence establishing the addictive properties and harm of such products. Should the ban be passed, the tobacco market in Malawi will be negatively affected as there will be less tobacco bought. The mining sector will definitely serve as a revenue source, following growing reports of growing