Malawi could reap 50% revenue from Kayelekera

Malawi to make the most of Kayelekera

By Kingsley Jassi” As Kayelekera Uranium mine gets closer to reopening in September this year, there are mixed views on the actual national benefits but the company and experts say the country has a fair deal. Under the law, the government gets up to 15 percent free equity from mining investment, 30 percent corporate tax revenue, 5 percent loyalty rate, mineral resource rents of 15 percent of profits-after-tax, among other economic benefits. The…

Malawi could reap 50% revenue from Kayelekera

Malawi Government may have a 15 percent stake in Kayelekera Uranium Mine in Karonga, but the country stands to earn at least 50 percent of total revenue generated, it has emerged. Lotus Resources Limited managing director Greg Bittar, whose company has a majority stake in the mine, said this on Wednesday when Minister of Mining Ken Zikhale Ng’oma and Presidential Delivery Unity (PDU) head Janet Banda visited the mine to appreciate progress of th…