Mining
ASM Federation hails RBM for increase in gold purchases
September 27, 2026 / Chisomo Phiri
The Federation of Artisanal and Small- Scale Mining in Malawi (FASMIM) has commended the Reserve Bank of Malawi (RBM) for the significant increase in formal gold purchases from artisanal and small- scale miners, saying competitive prices are encouraging more miners to use official channels.The Federation of Artisanal and Small- Scale Mining in Malawi (FASMIM) has commended the Reserve Bank of Malawi (RBM) for the significant increase in formal gold purchases from artisanal and small- scale miners, saying competitive prices are encouraging more miners to use official channels.
FASMIM President Percy Maleta said in an interview with Mining & Trade Review that the amount of gold being formally pur- chased by the Export Development Fund (EDF), a subsidiary of RBM, has risen to an average of about 60 kg per week.
Maleta attributed the increase largely to the competitive price being offered to local gold producers, saying the development is helping to make the formal market more at- tractive to Artisanal and Small-scale miners (ASMs).
“This is not by mistake or fluke. It is price, good price,” said Maleta
He urged the RBM to maintain, and where possible increase the price to con- tinue making it increasingly difficult for gold smugglers to compete with the formal market.
He said a competitive formal gold market will encourage miners to sell through offi- cial channels while ensuring that Malawi derives greater economic benefits from its mineral resources
Maleta also commended the Mining and Minerals Regulatory Authority (MMRA) for its sensitisation and public awareness activities aimed at educating citizens about its mandate, responsibilities and the impor- tance of compliance in the mining sector.
He said better-informed miners will con- tribute to stronger and more transparent mineral markets, ultimately benefiting the wider economy.
Echoing Maleta’s sentiments, mining ex- pert Ignatius Kamwanje said the price being offered by EDF is currently favourable compared with prices in neigh- bouring countries, providing an important incentive for miners to participate in the for- mal market.
He said :"Generally, the gold price in Malawi by EDF is on a higher note and a good one compared to our neighbours. This is an encouragement to miners, especially ASMs, given that the average buying amount per week is also encouraging."
Kamwanje however,said the government should move faster to formalise the ASMs and establish a fully functional formal gold market to further address smuggling.
The RBM launched a domestic gold-buy- ing initiative in 2021 to purchase gold di- rectly from ASMs with the broader objective of creating a formal market while building the country’s gold reserves.
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The establishment of a stable and self-sustaining ecosystem, but not necessarily the one that existed before mining began. In many cases, complete restoration may be impossible, but successful remediation, reclamation, and rehabilitation can result in the timely establishment of a functional ecosystem.
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