Thursday, April 22, 2010
By Nyasa Times
Published: April 21, 2010
Northern Region will contribute significantly to the country’s economy with the proceeds from the Kayerekera Uranium mined by Paladin Africa, Finance Minister Ken Kandodo has said.
“When Kayerekera mining comes on at full stream, it will bring in about US$200 million in forex to Malawi per annum,” Kandodo said. “This is significant as you know we get from tobacco in a normal year US$500 million from tobacco sales,” the finance minister told Capital Radio Straight Talk programme.
“I am happy that we can now rely on mining sector to assist in the generation of forex in Malawi.”
Presenter of Straight Talk Brian Banda asked the Finance Minister if it was not contradiction with President Bingu wa Mutharika’s remarks that the North does not contribute significantly to national economy as regards to quota system.
“I think there is no contradiction because the Kayerekera is only coming into the equation now. It was opened last year and the first sale of uranium went out last year but it will be a significant contribution to the national budget when it’s at full production,” Kandodo said.
“As to a reference what the President said maybe I am not the best placed to comment on that. I need to get the full text of what was said.”