Reserve Bank of Malawi (RBM) has been accused of promoting illegal mining in the country. Parliamentary Committee on Natural Resources and Climate Change laid the accusations the Bank is buying Gold from illegal miners.
The Chairperson of the Committee, Werani Chileng noted that the country is losing 20 Million Kwacha on daily basis because of illegal Gold mining a situation which is very worrisome and needs an urgent response. The committee has recommended that Gold purchasing should stop until the Ministry of Mining comes up with the list of those who have been licensed to Gold mining.
“As a cluster we are very sure that nobody in the country has been given a license to do Gold mining which shows that all Gold that Reserve Bank is buying is coming from illegal miners. Why should Reserve Bank of Malawi instead of assisting the country to contain the illegal mining issue should be on forefront fueling that, we have all along been complaining that there is illegal mining at Namizimu, Malingunde, Kasungu, Nkhotakota and Mzimba,” said Mr. Werani.
Implementing laws
The chairman pointed out the need on implementing laws in fullest considering that Malawi has Mines and Minerals Act which was passed in parliament in 2019 so that there should be licensed miners. In the budget statement delivered in May, Minister of Finance Felix Mlusu informed the August House that the Reserve Bank of Malawi has established a structured minerals market and commenced buying gold on 1st May 2021. Gold worth K60.0 million had been purchased by the Bank at the time.
“This market will go a long way in supporting Artisanal and Small-Scale Miners,” said the chairman.
