The Nager Investments Limited (NIL) says it is prepared to start exploration of the Rare Earth Elements (REEs) and Copper in Nsanje, the development which is likely going to revamp the socio-economic status in the district.
Managing Director for NIL, Ramesh Patel disclosed this in Nsanje where he made a presentation to the Nsanje District Council members on the project.
Speaking to ProjectM, he said the company has set aside K300 million for the project to rollout in due course.
Patel said NIL has already found the area of the project which is 58.7 square kilometres.
“We are going to do the explorations in the area of Traditional Authority Malemia and Matandwe Forest Reserve,” he said.
According to the MD, the demand for the REEs is on the increase because of the expansion of the renewable energy infrastructure and advanced technology.
He observed that the adoption of the electric vehicles markets is particularly influential with the REEs being essential for the production of neodymium magnets used in electric traction motors.
Senior Chief Tengani has asked NIL to follow the environmental issues when conducting their work in the area.
He said the area of Traditional Authority Malemia includes the Matandwe Forest Reserve which requires full charge of the environment.
“As the council, we want to see all aspects of the environment adhered while exploring mining in the area,” said the senior traditional leader.
Nsanje District Council Chair for Agriculture, Councillor Rose Makiyi thanked the company for coming to Nsanje with the project.
“Once it is operational, the Nager Investments Limited is going to create job opportunities in the district,” she said.
