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02:38

Malawi has begun extracting rare earth minerals at the Kangankunde mine in Balaka, about 200 kilometers from the capital, Lilongwe, in a bid to boost economic growth and attract investment.

The project, operated by Lindian Resources, holds significant deposits of rare earth elements used in manufacturing electric vehicles, mobile phones, wind turbines and aircraft components.

Malawi President Peter Mutharika said developing the country's mineral resources could generate substantial revenue, particularly if processing and manufacturing are carried out locally.

The government is also seeking to expand domestic mineral processing and reduce reliance on raw mineral exports. Lindian Resources plans to extract about 500,000 tons of rare earth material for further processing and refinement.

Malawi hopes the project will create economic opportunities, increase government revenue and strengthen its position in the global supply chain for minerals used in advanced technologies and clean energy.

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Malawi's rare earth project aims to boost the economy