Mining company queried on role

Members of Parliament (MPs) have questioned the role of the Malawi Mining Investment Company (Mamico), warning that the State-owned investment vehicle may be overstepping its mandate by focusing on mineral exploration. The legislators feel mineral exploration should remain the domain of the Department of Mining through the Geological Survey Department (GSD). The concerns emerged during a meeting between the Parliamentary Cluster Committee on Agriculture and Natural Resources and officials from the Ministry of Energy and Mining as lawmakers reviewed the ministry’s performance in the 2025/26 financial year and its proposed 2026/27 National Budget allocation.

The committee said the apparent overlap between Mamico and GSD raises questions about duplication of roles when the Ministry of Mining and Energy itself faces major funding gaps. The issue came to light when the ministry officials told the committee on Monday in Lilongwe that they require about K114 billion in additional funding to strengthen mineral exploration, laboratory infrastructure and other sector operations. The request is roughly 12 times higher than the department’s current allocation, according to the committee.

Cluster committee chairperson Tiaone Hendry said such duplication is problematic given the limited resources available to the ministry amid concerns that Mamico’s current approach risks diluting its investment focus. “They are focusing so much on exploration. As an investment company, the focus should be on investment in terms of how Malawi will gain and how they will negotiate with investors,” she said.

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Hendry said the company should prioritise structuring investments and negotiating mining deals rather than undertaking exploration work. Mamico was established as a government investment vehicle intended to participate in mining ventures on behalf of the State. Its role includes managing government equity in mining projects and identifying investment opportunities that could generate revenue for the country.

The MPs further observed that Malawi lacks sufficient geological data on its mineral resources, noting that government still relies on information generated by private investors. For this reason, the committee recommended that the government should prioritise mineral exploration and geological data collection within the Department of Mining so that Malawi can develop its own information base. Ministry of Energy and Mining acting Principal Secretary Andrew Chisamba acknowledged the concerns raised by lawmakers, but justified the ministry’s approach, arguing that exploration activities undertaken by the GSD and Mamico could complement each other. He said Mamico’s primary role remains investment, particularly managing government equity in mining projects and supporting strategic investments in the sector.

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