{"id":28200,"date":"2022-08-03T20:41:03","date_gmt":"2022-08-03T20:41:03","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds"},"modified":"2022-08-03T20:59:56","modified_gmt":"2022-08-03T20:59:56","slug":"government-defends-5-royalty-from-mining-proceeds","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds","title":{"rendered":"Government defends 5% royalty from mining proceeds"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Malawi Government has defended the five percent royalty it gets from mining proceeds saying the rate is competitive if Malawi is to attract investors in the mineral sector.<\/p>\n

The Ministry of Mining said this yesterday following concerns that Malawi may only get K45 billion from rutile mining which is expected to rake in K900 billion.<\/p>\n

In a statement yesterday, Secretary for Mining JCN Mkandawire argued that the 5 percent which payable upon production of minerals was reached at following extensive studies within the Southern African region and in order to attract investors in the mineral sector.<\/p>\n

According to Mkandawire, in Zambia and Tanzania the royalty is also 5 percent while in Namibia it is 2 percent, in Botswana it is 3 percent and in South Africa it is 0.5 percent.<\/p>\n

Mkandawire further said that Government is paid resource rent tax of 15 percent and has equity participation of 10 percent as prescribed under the Mines and Minerals Act of 2018.<\/p>\n

The statement comes amid claims that Government has been duped in a deal with Australian company, Sovereign Metals, which is exploring rutile at Kasiya in Lilongwe. It was alleged that Government had already awarded a mining licence to the company.<\/p>\n

However, Mkandawire said Sovereign Metals is yet to get a mining licence and what it has is a mineral exploration licence. \u201cHence no mining is taking place at this site since studies are ongoing,\u201d said Mkandawire.<\/p>\n

He added that after feasibility studies are completed, an environmental impact and assessment will be conducted and if approved, the company\u2019s application for mining licence will be reviewed and approved by the ministry.<\/p>\n

\u201cIf all financial and technical requirements under the licence conditions are met, relevant government institutions will commence negotiations for the Mining Development Agreement where among others, fiscal matters will be dealt with,\u201d said Mkandawire.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Malawi Government has defended the five percent royalty it gets from mining proceeds saying the rate is competitive if Malawi is to attract investors in the mineral sector. The Ministry of Mining said this yesterday following concerns that Malawi may only get K45 billion from rutile mining which is expected to rake […]<\/p>\n","protected":false},"author":84,"featured_media":28199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,371,234,2398,2520],"class_list":["post-28200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-malawi","tag-mining","tag-ministry-of-mining"],"yoast_head":"\nGovernment defends 5% royalty from mining proceeds - Malawi<\/title>\n<meta name=\"description\" content=\"Malawi Government has defended the five percent royalty it gets from mining proceeds saying the rate is competitive if M ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government defends 5% royalty from mining proceeds\" \/>\n<meta property=\"og:description\" content=\"Malawi Government has defended the five percent royalty it gets from mining proceeds saying the rate is competitive if M ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T20:41:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T20:59:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_2-62eae1a71ff3b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"539\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government defends 5% royalty from mining proceeds\",\"datePublished\":\"2022-08-03T20:41:03+00:00\",\"dateModified\":\"2022-08-03T20:59:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\"},\"wordCount\":314,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_2-62eae1a71ff3b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\",\"mining\",\"Ministry of Mining\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/government-defends-5-royalty-from-mining-proceeds\",\"name\":\"Government defends 5% royalty from mining proceeds - 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