Latest news with #HunanSunwalk
Zawya
08-07-2025
- Business
- Zawya
Malawi's Mining Minister to Speak at African Mining Week (AMW) as Global Investor Interest in Country Surges
Malawi's Minister of Mining, Ken Zikhale Reeves Ng'oma, has confirmed his participation as a speaker at the upcoming African Mining Week (AMW) 2025, Africa's premier gathering for mining stakeholders. Minister Ng'oma will feature in the Ministerial Forum, showcasing policy frameworks and investment incentives aimed at accelerating mineral exploration, production and beneficiation in Malawi and across the continent. Malawi – under the leadership of Minister Ng'oma – is attracting attention from major investors targeting its rare earths, uranium, titanium, graphite and downstream value chains. In June, Minister Ng'oma signed a $7 billion deal with China's Hunan Sunwalk, marking the largest-ever foreign investment in the country's mining sector. The deal covers the development of titanium extraction and processing facilities in Salima, alongside major commitments to skills development, technology transfer and community investment. The country also secured $5 billion at China's Xidian International Stock Exchange to develop a Special Economic Zone in Chipoka. Up to $1 billion worth of mining, infrastructure and agri-industrial projects will be deployed within the first year as part of the deal. The China-Africa Cooperation on Critical Minerals Roundtable at AMW provides an ideal platform for Minister Ng'oma to forge new investment partnerships with Chinese investors. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ In addition to Chinese investors, major financial institutions across the globe are also supporting cornerstone projects. Malawi's Ecobank has proposed a $30 million loan, the European Investment Bank a $40 million facility and Gerald Group a $50 million loan to fund the Kangankunde Rare Earths Project. Operated by Australia's Lindian Resources, the project will be one of the world's largest rare earths production facilities once operational in 2026. In the uranium sector, Lotus Resources secured $38.5 million from South African banks First Capital Bank and Standard Bank to advance the Kayelekera Uranium Project, with first production scheduled for Q3 2025. Additionally, Sovereign Metals raised $40 million in March to support the Kasiya Rutile-Graphite Project, home to the world's largest known rutile deposit and second-largest graphite reserve. With projected annual outputs of 245,000 tons of rutile and 288,000 tons of graphite over 25 years, the project will position Malawi as a major player in global critical minerals supply. Amid this surge in investment, Malawi's mining sector has the potential to generate up to $30 billion in mineral exports between 2026 and 2040. Against this backdrop, AMW 2025 provides a timely platform for Minister Ng'oma to engage global investors, spotlight Malawi's growing mining sector and drive new partnerships. Held under the theme From Extraction to Beneficiation: Unlocking Africa's Mineral Wealth, AMW will feature high-level panel discussions and strategic project showcases amplifying Malawi's role in the continent's mining future. Distributed by APO Group on behalf of Energy Capital&Power.
Business Insider
22-06-2025
- Business
- Business Insider
China breaks into Malawi's mining sector with $7 billion investment package
The government of Malawi has signed a landmark $7 billion agreement with Chinese conglomerate, Hunan Sunwalk Technology Group, marking the largest foreign investment in the nation's mining sector. Malawi signed a $7 billion deal with Hunan Sunwalk Technology Group for a titanium extraction project and mineral processing facility. This agreement reflects Malawi's strategic shift towards international partnerships for its natural resource sector. Malawi's government sees the deal as a pivotal step towards transforming mining into an economic growth driver. The deal, signed on June 16, 2025, during the China-Africa Economic and Trade Expo (CAETE) in Changsha, China, includes a large-scale t itanium extraction project in Salima and the creation of a state-of-the-art mineral processing facility in the country. Following the signing, the country's Minister of Mining, Dr. Ken Zikhale Ng'oma, hailed the deal as a strategic breakthrough, emphasizing its alignment with President Dr. Lazarus McCarthy Chakwera's long-term vision of transforming mining into a key driver of the national economy. ' This MoU signals a new era; anchored on sustainability, innovation, and inclusive growth. It aligns squarely with President Chakwera's agenda to turn mining into a driver of national development,' Ng'oma said. China deepens relations in Malawi's mining sector Notably, Hunan Sunwalk CEO and Founder Hou Xingwang described the agreement as a strategic milestone for both nations, stating that it will, ' facilitate the flow of capital, technology, and skilled human resources between China and Malawi ' He also expressed interest in exploring investments in agriculture and other sectors to contribute to Malawi's broader economic development. Ng'oma emphasized that the partnership goes beyond raw material extraction, delivering technological transfer, strict environmental compliance, and human resource development. He highlighted Hunan Sunwalk's successful performance in Zimbabwe as a testament to the company's capabilities. Reassuring the public, the Minister said, " This is the first time Malawi has entered into such a comprehensive MoU with a multinational mining corporation. ' ' We ensured that due diligence was conducted thoroughly, and we are confident that the interests of Malawians are well protected." He added. Officials from both parties described the agreement as a "win-win" venture, with potential to create thousands of new jobs, infrastructure development, and enhance economic growth. The Chinese company has reportedly commenced exploration and feasibility studies in the Salima District. As more African countries move away from traditional EU and US aid models, which often come with allegiance requirements, Malawi is among those eagerly anticipating the transformation of its natural resource sector through partnership with China.
