Copper Mine Financing in Malawi
The copper deposit is located in the South parts of Malawi. The deposit was mined from early sixties to early seventies with leaching ponds and a smelter in place to produce refined copper product.
After Malawi gained independence in the mid 60’s, the country changed focus to agriculture and closed operating mines.
Analyses of grab-samples of gneiss containing copper carbonates collected from east main dolerite dyke show 2.92% Cu and 1.76%. Analyses of chip-samples show respectively 3.72% and 9.49% of Cu. Further sampling in 2016 show high results between 10% and 27% of Cu. The copper mineralization takes the form of local disseminations of chalcopyrite and coverllite associated with pyrrhotite and near the surface as secondary deposit of malachite and azurite occur in small sheared areas of gneiss.
The World Bank estimates that the Malawi mining sector could be worth $500 million - $1 billion by 2020. Malawi’s National Export Strategy 2013-18, produced in December 2012, forecasts that mining exports will increase from $114 million in 2010 to $246 million in 2017 and to $493 million by 2027.
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