President Professor Arthur Peter Mutharika has finally put a pen into paper to mark the commencement oil and gas exploration on Lake Malawi following the news that he has lifted the ban which has been there since 2015.
Minister of Foreign Affairs and International Corporation George Chaponda disclosed this on Thursday during a media briefing in the capital Lilongwe.
Mutharika banned oil and gas exploration on Lake Malawi following reports that the awarding of licenses which was done during the reign of former President Dr. Joyce Banda was not done in good faith.
In his speech, Chaponda who denied disclosing more details on the matter said he is pleased with the decision taken by President Mutharika.
â€śI am pleased to inform you that the President (Peter Mutharika) has lifted the ban. More details will come from the relevant ministry. I am glad that the president has picked this path. The mining sector will play an important role,â€ť Chaponda told a news conference.
According to reports, the move has already attracted several International companies will to work with the Malawian government to explore oil on Lake Malawi.
Georgia and Kazakhstan are among the nations who have courted Malawi on the oil and gas exploration.
The Georgia government has offered training to Malawians in public health, oil and gas processing and education at Universities in Georgia to be paid for by the Georgian Government.
Meanwhile experts in the country have warned the Malawi government to revisits its laws on mining, saying the laws are outdate and favours exploring companies.
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