Malawi Joins Africa Mineral Group, Unlocking Potential Saudi Investments
The Africa Minerals Strategy Group currently has 16 founding member nations.
LILONGWE, Malawi— Malawi has become the fourth African nation to sign the charter for the Africa Minerals Strategy Group, a move that could open the door for billions in Saudi mining investments according to the group's leader, writes Winston Mwale.
On January 9, 2024 on the sidelines of the Ministerial Roundtable of the third Future Minerals Forum held in Riyadh, Saudi Arabia, African Ministers of Minerals and Mining met and established the Africa Minerals Strategy Group (AMSG).
Its primary purpose is facilitating international cooperation in the minerals and mining sector among member African nations and working closely with interested nations and strategic partners to explore investment opportunities and contribute to economic development in the mining sector.
"Malawi is a founding member nation and I am pleased to announce that today the 24th of April 2024 the government of the Republic of Malawi signed the charter and ratified it becoming a full member nation of the Africa Minerals Strategy Group," said Secretary-General Moses Micheal Engadu.
The intergovernmental group aims to promote cooperation, local mineral beneficiation and better deals for African countries exploiting their resources.
"Our duty is to ensure that we become the voice for the African continent. We are able to now negotiate better deals and be able to also foster collaboration among our countries and resource sharing," Engadu told journalists at the 2024 Malawi Mining Investment Forum in Lilongwe.
He said membership will allow Malawi to "represent you better, attract better investment opportunities and also bring in partners and investors."
One such opportunity could come from Saudi Arabia, an observer member that launched a $15 billion Manara Minerals Investment Fund in January targeting copper, iron ore, nickel and lithium — all minerals found in Malawi.
"Through the Africa Minerals Strategy Group the Saudi Arabia government will be investing in making minerals investments but also acquiring minerals to meet their needs," Engadu said.
"We are now working with the ministry to be able to finalize with the Saudis what they can start with."
Minister of Mining Monica Changanamuno separately called for greater African cooperation to beneficiate minerals locally rather than exporting raw materials.
"For a long time, we've been doing our work as individuals, and others have taken advantage of us. And we're saying now it's time for Africa to wake up and work as a team, so that we can have one voice to safeguard our minerals," Changanamuno said.
"We don't want any raw materials to go outside of Africa. We want to partner, work together, collaborate more and more, so that the beneficiation of our minerals is taking place within Africa," she stated, urging utilizing each country's facilities for mutual benefit.
The Africa Minerals Strategy Group currently has 16 founding member nations.
Engadu said its role is "to promote local beneficiation of our minerals but also to get a fair deal for Africa when it comes to the minerals."