Malawi’s Mining Fiscal Regime: H1 2014

The Department of Mineral Resources, Energy and Environment is the main governing body for policy guidance and direction on all matters concerning Malawi’s natural resources, energy, and environmental management. The Department of Mines, which comes under the Ministry of Natural Resources, Energy and Environment, is responsible for the development of the mining industry, as well as the creation of a sustainable mining environment. The Mines and Mineral Act 1981 is the apex governing law for Malawi’s mining industry.

Scope

The report outlines Malawi’s governing bodies, governing laws, licenses and key fiscal terms which includes Royalty, Corporate Income Tax, Capital Gains Tax, , Loss Carry Forward, Depreciation, Withholding Tax, Tax Incentives and Value Added Tax, VAT.

Key Highlights

• The Ministry of Natural Resources, Energy and Environment is the main body responsible for regulating mining in Malawi.

• The Department of Mines was established with an aim to provide development of the mining industry, and to create a sustainable mining environment.

• The Mines and Mineral Act 1981 include the main laws for mining regulations in Malawi. The Act makes provisions with respect to searching for mining minerals, repealing the mining act and certain others, and provides for matters connected thereto.

Reasons to buy

Gain an overview of Malawi's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The Malawian Mining Industry – Governing Bodies 6

2.1 Ministry of Natural Resources, Energy and Environment 6

2.1.1 Department of Mines 6

2.1.2 Department of Energy Affairs 6

2.1.3 Department of Geological Survey 6

2.1.4 Department of Environmental Affairs 6

3 The Malawian Mining Industry – Governing Law and Licenses 7

3.1 The Mines and Mineral Act 1981 7

3.2 Licenses 7

3.2.1 Reconnaissance License 7

3.2.2 Non-Exclusive Prospecting License and Claims 7

3.2.3 Exclusive Prospecting License 8

3.2.4 Mining License 8

4 The Malawian Mining Industry – Key Fiscal Terms 9

4.1 Royalty 9

4.2 Corporate Income Tax 9

4.3 Capital Gain Tax 9

4.4 Loss Carry Forward 9

4.5 Depreciation 9

4.6 Withholding Tax 10

4.7 Tax Incentives 10

4.8 Value Added Tax (VAT) 10

5 Appendix 11

5.1 What is this Report About? 11

5.2 Methodology 11

5.3 Secondary Research 11

5.4 Primary Research 12

5.5 Contact GlobalData 12

5.6 About GlobalData 12

5.7 GlobalData’s Services 13

5.8 Disclaimer 14

List of Tables

Table 1: The Mining Industry in Malawi – Fiscal Regime Terms and Other Taxes, 2014 1

Table 2: The Mining Industry in Malawi – Depreciation Tax (%), 2014 9

Table 3: The Mining Industry in Malawi – Withholding Tax (%), 2014 10

List of Figures

Figure 1: The Mining Industry in Malawi – Commodity Mines at Different Stages (Number of mines), 2014 2

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