Small-Scale miners strike deals at MIF 2018

Nyasa Manufacturing exhibiting at Malawi Investment Forum
Nyasa Manufacturing exhibiting at Malawi Investment Forum
Artisans and small-scale miners, who exhibited their mining products at this year’s Malawi Investment Forum under the umbrella of Nyasa Mining Cooperative, emerged from the forum with smiles after striking lucrative deals and discovering profitable markets for their precious stones.

The cooperative’s chairperson, Percy Maleta, said the forum was very successful as they made very good deals that only need finalizing. “The gemstones we showcased got attention and we had high traffic at our pavilion. High profile delegates and international participants were surprised to see so many gemstones at our booth, some thought we were from Zambia,” said Maleta.

Maleta, who is also Vice Secretary for Gemstone Association of Malawi (GAM) – Central Region, said, among other engagements, the Cooperative had important business discussions with South Africa-based Malawian Prophet Shepherd Bushiri, who is interested in procuring gold and other precious minerals from ASMs.

“Other deals we sealed include an order for 1000 grams of Rhodolites Garnets worth $15,000.00, another 1000 grams of Aquamarine worth $50,000.00 as well as 1000kgs of Blue Agate worth $7000.00, all with a South Africa-based businesswoman known as Njenga,” he said.

Maleta however, expressed concern that Malawi has been losing lots of revenue through selling raw gemstones instead of finished products.
He, therefore, suggested that government should put in place a deliberate policy that will promote value addition of minerals in order for the country to benefit more from the resources. He expressed concern that 99.9% of Malawi minerals are exported to the outside world in raw form, which results in revenue loss.

“By selling these raw gemstones, Malawi does not only lose 80% of the actual revenue that the processed stones fetch, but also jobs, that could have benefited the citizenry, particularly the youth and women,” Maleta said.

He observed that most of jewelry finished products that are on local market are made from Malawi gemstones and minerals exported to other countries.
He rated the 2018 Malawi Investment Forum with a 85% score mark, saying its major highlight allowing SMEs to exhibit free of charge, which, he said, will help boost and give confidence to the country’s SMEs.
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