Malawi 'Losing $700million Worth of Gold to Smugglers' - As Government Scrambles to Crack Down On Illegal Mining Trade

Malawi 'Losing $700million Worth of Gold to Smugglers' - As Government Scrambles to Crack Down On Illegal Mining Trade

Malawi's government is putting fresh measures in place to clean up the country's mining sector, after it emerged the nation could be losing hundreds of millions of dollars' worth of gold to smugglers every year.

Malawi Loses $700 Million Annually to Gold Smuggling

Malawi is facing a severe economic drain as an estimated $700 million worth of gold is illegally smuggled out of the country every year. The post Malawi Loses $700 Million Annually to Gold Smuggling appeared first on Business Elites Africa.

Malawi plans new gold markets

This article was originally published on Malawi24">Malawi24, Malawi's #1 independent news platform. Malawi government is planning to open gold buying centres in major mining areas from September to give miners legal markets for their gold and help stop smuggling. Malawi Mining Investment Company (MAMICO) chief executive officer Professor Leonard Kalindekafe said the company had estimated that gold worth more than US$700 million leaves Malawi eac…

Malawi ‘losing $700million worth of gold to smugglers’ – as government scrambles to crack down on illegal mining trade - Business News Malawi

Malawi’s government is putting fresh measures in place to clean up the country’s mining sector, after it emerged the nation could be losing hundreds of millions of dollars’ worth of gold to smugglers every year. Minister of Mining Thoko Tembo said the Malawi Mining Investment Company (Mamico) was establishing mining cooperatives and formal structures for […] The post Malawi ‘losing $700million worth of gold to smugglers’ – as government scramble…