Hi
@Banksy - naah your not reading up enough on the local media.
The locals and rightfully so are extremely peeved with past mining activity and extremely corrupt deals like Paladins deal at Kaylakayeena or whatever it was called - the deal done with the previous Banda govt granting exploration permits for gas and oil in Lake Malawi and the toxic waste and land devastation from current and past mining activity.
The rail you mention with Vale and and the Jap partner was a deal done to transport coal from the Moatize basin in Mozambique - this consequently has killed off coal mining in Malawi due to the flood of cheap coal from the Moatize basin. That just highlights a few - GBE - another ASX listing has screwed locals at Kanyika etc etc.
The impoverished locals have - and who would blame them - a gutfull. Yeah they are not the most educated - or none at all but they have a voice now through different groups.
What's the best outcome in the pending elections of early 2019 for Malawians and yeah SVM?
Well it's obvious on a Malawians point of view - as for SVM and any other prospective exploration/mining company I would say that's equally obvious. Remain the same with the current corrupt govt who are eternally in denial - a govt that will not implement the promised electoral reforms so they can manipulate elections - a govt who will not table and pass the 2 1/2 year old new mining and minerals bill for fear of losing that old corruption hand out.
Obviously there is plenty more to it but Madonna has done more for Malawi than Mutharika. Honestly it's truly disgusting what they do - or more to the point what they don't do. SVM's future is in the hands of him (for now) just like his father when president - a very corrupt individual who only has personal gain at interest and it is concerning. You see - the pres has complete control of not only the people but any minerals - oil - gas - etc. It's why he won't implement the new mining bill that so many international and Malawian agencies are requesting.
Simple questions - why not do as he said and implement the electoral reforms - why not implement the new mining bill giving resources to the Malawians - not the pres. These are just a couple of examples.
Now he says he will not tolerate public protests from church groups and the like. Tell you - locals have had enough and a once peaceful nation compared with other African nations is on a precipice. They may not be overly educated but they aren't silly and technology gives them a voice to vote with. The bloke has done nothing in 4 long years and the poor impoverished locals continue to suffer.
SVM could hit a head wind who knows - it's my only worry. The previous Banda govt approved exploration licenses to internationals only a few weeks prior to the previous election. That's the sort of beurocracy we are dealing with in the form of Malawian government. Say they support it one day but do nothing for 10 years to allow it to progress - with under table kick backs.
So as much as everything is tracking extremely well at present - almost to the point they want to wrap things up before the early 2019 elections - we are vulnerable to the current govt and possibly the next.
So so much international money and expertise has been invested in Malawi to have a strongly legislated mining industry - except the current govt will simply not abide - not even mention the new mines and minerals bill even though it's been sitting for implementation for well over 2 years.
Anyway - like international groups and Malawian groups condemn the govt for not taking action - I personally think they are disgusted and are only being diplomatic - they would like to say more.
Just now the U.S. is looking at withdrawing aid - Europeans have.
So shareholders only think of "kaaching" - Be nice if we could see a win/win for the impoverished locals and SVM - unlikely under current govt - however in desperation to garner support to win another term anything could happen - like his pathetic attempt to band aid electrification with ridiculous spending on imported diesel power generation - like the failed commitment of university positions - "efforts" to be rid of corruption - he's put more effort in his wife succeeding him as pres..
Just my early morning rambles anyway - dyor
(20min delay)
