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Gold Smuggling Costs Malawi Over K1.2 Trillion Every Year
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Malawi Nyasa Times – News from Malawi about Malawi
Mamico discovered that there are 81 illegal gold mining sites across the country, where gold is being mined and sold secretly.
Geoscience expert Ignatius Kamwanje said most gold mining in Malawi is small-scale and informal, which makes it easy for foreign buyers to exploit local miners and smuggle the gold out.
“540 kilogrammes is good, but we could have bought far more if illegal mining was stopped,” he said.
If the K1.2 trillion being lost every year was kept in Malawi, it would be enough to:Buy fuel for months.
Experts say gold could become one of Malawi’s biggest economic lifelines, but only if smuggling is stopped and the trade is formalised.