The country's vice president Saulos Chilima has emphasized that Malawi needs to invest much in mining industry which is slowly taking over as economic hub.
Chilima echoed president Lazarus Chakwera's words when he toured Songwe Hill in Phalombe where Mkango Resources Limited is conducting rare earth exploration.
This week Mkango Resources Limited announced prospects on the prospects of finding rare earth oxides.
“We are told that this means there is a positive impact on hydrometallurgical processing at the mining site.
“...We are in for a big thing within the next two to three years with an investment of US$300 million US dollars to start the exploration,” said Chilima.
He then made it clear that there is a readily available market for the rare earth across Europe and Asia.
“We will ensure that we see through this project because like I said, this rare earth mining could be the economic breakthrough for Malawi,” he added.
Chilima emphasized in a meeting with Phalombe District Council that they should be in a state of preparedness to ensure that they are the first to respond to the economic transformation that the mine will bring to the district.
“This is the time to think of tourism and other related chain economic opportunities,” he said.