Mamico needs K300 billion annually for gold buying

Malawi Mining Investment Company says it needs about K300 billion a year to purchase gold from local miners, including K85 billion for its first three months of operations. The company has readied equipment and trained staff to support a formal market where artisanal miners can trade with government-approved buyers. The initiative aims to give miners a dependable sales channel and help Malawi retain revenue currently lost through gold smuggling.

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