Gold deposits found in Nkhata Bay in Malawi
Malawi’s Ministry of Mining says gold deposits have been found in the farm of the late Aleke Banda at Tukombo in Nkhata Bay.
The ministry’s Public Relations Officer Andrew Mkonda Banda has told the local media that a preliminary investigation has established the presence of gold deposit in the area.
The discovery of gold by the ministry comes after residents from 100 villages around Tukombo Trading Centre in Nkhata Bay rushed to the estate to dig for the precious metal. The residents use hoes and other sharp objects to dig.
Mkonda Banda said other gold deposits have also been found a kilometre away from the farm.
Gold deposits in the past have been reported in some areas in Neno, Balaka and Ntcheu.
In Malawi, the Reserve Bank of Malawi (RBM) is the sole domestic buyer of gold and President Lazarus Chakwera revealed in February this year that the bank had managed to purchase 58.1 kilograms of gold valued at US$3.2 million (K3.2 billion) in six months.
