Globe Metals releases study on 20-year Malawi project | The Australian

June 30, 2008

GLOBE Metals & Mining has lifted its trading halt today, announcing the results of its scoping study on its central Malawi project.

Globe (ASX: GBE: quote) said its Kanyika project in Malawi in Africa has the potential to become a very profitable operation with at least a 20-year mine life.

The uranium and specialty metals resource company has completed a study into the economic potential of the site and said both revenues and cash flows were substantial over the life of the mine.

“Plus, the capital expenditure is modest and the capital payback period short,'' Globe managing director Mark Sumich said.

Globe estimated the capital expenditure at $US177 million ($184 million), and the capital payback period at less than two years, according to a statement today.

The Kanyika project is the Perth-based company's lead project, situated in central Malawi.

It contains an inferred resourced of 56Mt, including niobium, uranium, tantalum and zircon.

AAP

Proud to be Malawian

Rikki Shayo

As the year comes to an end it seems supreme that an aggressive slogan campaign to build patriotism among Malawians, dubbed "Proud to be a Malawian" should be a collective resolution for 2008. Well aware of the turbulence among Malawians, based on our political situation, the government as well as well wishers ought to make a strong case for the campaign on both print and electronic media. Only love for this country can motivate us get out of our present predicament. It is ironic how Americans, dissatisfied with the state of their country in its formative years, provided the impetus they needed to make the United States what it is today. I am by no means trying to make the government look bad and irresponsible but it is true that not a single one of the so-called super powers started off as the flourishing lands they are today. The lands Malawians are shamelessly flocking to because of their achievement. The citizens in those super powers simply put their heads down and worked tirelessly until they realized their dreams. Green cards Instead of Malawians following suit, we are now ridiculously tripping over our own feet in a bid to become citizens of these countries! What a shame. We were not born here to get green cards elsewhere. My fellow brothers and sisters, we need to promise ourselves whenever we go abroad or overseas that we must come back and develop this country. If not who will? There is more than enough to live for here. Before offering a quick disapproval, ask yourself why there are people prospering here if this country is truly so hopeless. Some started from scratch and have built themselves dream businesses. Others have gotten prestigious positions in successful corporations. There are those who chose to pursue performing or visual arts and are happy with their choices e.g Lucius Banda, Mlaka Maliro and many more. Exploit hopeless situations Still others are becoming wealthier by investing wisely. In fact, some renowned financial successes claim that it is the socalled hopeless situations that provide opportunities for accomplishment. What is business after all, if not providing solutions to human problems? It is true that former leadership bears much of the responsibility for our patriotic decay. Today's average Malawian has not been taught to love his motherland. When we got independence, our leaders instilled in our hearts a feeling of national pride because of their own strong sense of victory. Their goal, at the time, was to have Malawians enjoy the land they passionately fought for. The downward spiral started when leaders became more concerned with keeping their positions in the government. Bent on stifling competition, the government forgot its duty to the nation and began vigorously nipping every ambitious and capable person in the bud; this was every regime's top priority. Intelligent fools If you are not one of those people who believe that Malawi "has its owners," then you know that it is we who willingly install people who make a mockery of leadership. The fact is, we vote these people in under the spell of group psychology. Just think of the multiparty euphoria in 1992. Many of us were displeased with Western media, which cautioned that we were voting for people whose true colours we had already seen. The media was right. One would think that people who only show up when they need to bribe or incite the youth assault their opponents would not fool an intelligent people like ours, but no, a fool and his money are soon elected to parliament. We are intelligent. In fact, without prejudice black Africans are the most intelligent race in the world. This fact is based on statistics gathered from worldwide academic performance. Even if this were not true, it does make a strong case for the fact that we have plenty of intelligent people within our ranks. I dare say that ignorance, the victim mentality, and self-doubt are the reasons we are lagging behind regional and world powers that actually rely on our resources to keep them going. Reject negativism The first step we need to make is to change our attitudes toward ourselves. Our negativity is evident from such areas as naming and language. We are so proud of European names that we are offended when people use our 'home names.' How many people have you met who abandoned their traditional names on arriving in the city? Sometimes we do not adopt European names; we alter ours. Yet other races proudly expect us to use their native names, even the ones that comprise only of consonants. They regard adjusting to accommodate those who do not speak their language as condescending. We view adjusting ourselves and our language to accommodate outsiders as promotion. As far as language is concerned, most Malawians and especially the youth feel 'proud' only when they speak English. Doing something the English way means doing it well, while doing it the African way based on my continental affiliation, means I have done a shoddy job. Case of low self-esteem Our national self-esteem is so low, in fact, that we readily let outsiders define how we speak our language. Just listen to the high-powered FM stations call this country 'Malaway'. The language of the conqueror, hen spoken by the conquered, ecomes the language of a slave. What about the language of the slave hat the conqueror changes, and then he slave adopts with gratitude and ladness? We need to toil away without the reedy and selfish naggings that have aused us to deplete our land to nrich our individual lives. We forget hat our grandchildren and their ffspring will be the ones to suffer because of our corruption. When we are propagating the agendas of the foreign investors, when we refuse to pay our bills, we make life that much harder for those who will come after us. Money will not solve problems like lack of rain and impoverished essential amenities providers. India, for instance, is now reaping the harvest of its intractable determination. In an article in one of their newspapers boldly titled India as Managerial Number One, Swaminathan S Anklesaria Aiyar outlines how cynical Sir Frederick Upcott, then chief commissioner of the Great Indian Peninsula, was when Jamsetji Tata suggested that India could manufacture steel. Upcott pledged to eat every ounce of steel that Tata could produce. A century later, Tata, modern India's largest empire, is set to take over the entire British steel industry. The Tata group already took over Tetley, Britain's leading tea-bag brand and the world's second biggest at $432 million. Chained in poverty Unless we become self-sufficient, we will always be slaves, bowing down to the dictates of the donor community. The legendary Bob Marley sang, "I remember on the slave ship, how they brutalized the very souls. Today they say that we are free, only to be chained in poverty." The only way to better our individual economy is to better our country's economy. Tata said, "What is good for Tata is good for India." Perhaps if we think along these lines we will lift ourselves out of our national lack. It is time we stopped running away physically, mentally, and emotionally, and began working towards building Malawi. We are not as disadvantaged as other countries that have far outshone us. Before Samsung Electronics was started, South Korea had gone through a war. Today, Samsung is among the world's top three electronics companies. Israel has had problems since Biblical times, yet it is the most industrialized country in the Middle East. Among the world's most competitive economies, it ranks 15th, according to the World's Economic Forum. We are not disadvantaged. Dismiss slave mentality Paraphrasing the legendary Nelson Mandela's words, who are we not to be magnificent, talented, brilliant, and triumphant? It is time to dismiss our slave mentality and realize that we have what it takes to make Malawi the majestic nation she can be. It is superior to be Proud to be Malawian.

National Bank introduces Visa debit cards

By HENRY MCHAZIME - 27 June 2008 - 14:04:27

NATIONAL Bank of Malawi Thursday introduced four ranges of Visa debit cards and point of sales device which would facilitate broad scale electronic transactions.
The four Visa cards include Electron, Classic, Gold and Platinum which would be offered according to the income base of customers and will eventually replace the existing ATM card.
The card, would, among other things be used for purchasing goods and services using Point of Sale (POS) terminal displaying the Visa symbol located at designated places.
During a media briefing in Blantyre National Bank Public Relations Manager Annie Magola said customers would benefit a lot from the card.
“No prior loading of the card is required as the transactions will automatically debit your account online and there would be no need to carry cash around and you spend money that you have in your account,” Magola said.


She said introduction of the new products is part of the bank’s five year strategic plan.
“Over the years National Bank of Malawi has embarked on improving all products that we offer including services to match what is in our strategy to be the best in offering banking services,” said Magola.

In his presentation Project Manager for National Bank William Kaunda said apart from offering safe and secured transactions, the new products aim at reducing the cost of managing cash circulation.

“It would be mandatory for us to provide the Electron Visa card to every customer because it would also replace the previous ATM cards but customers would ably acquire products using the Visa cards and also access hard cash on all ATM’s with Visa card symbols,” said Kaunda

National Bank’s Head of Retail Banking Austin Musyani said they would provide point of sale devices to shops, service outlets and merchants across the country to provide a benchmark for the new payment system.

“Cash movement and printing of banknotes is expensive and the Reserve Bank of Malawi has recommended all financial institutions to provide electronic transactions and this would be beneficial not only to National Bank and the customer but the economy in general,” said Musyani.

National Bank says according to its strategy it targets to have a high percentage of electronic transactions by 2011 and an initial investment of K200 million has been pumped into the project.

Only an iconic statesman of Nelson Mandela's stature could be honoured by the glamorous and powerful

Superstars from every field imaginable, many of whom had crossed the
Atlantic, turned out to honour the charismatic former South African
leader at a dinner in a marquee in London's Hyde Park.

First
though, the elder statesman had a private audience at Buckingham Palace
with an old pal - the British monarch. As they shook hands warmly, Mr
Mandela, showing a flash of his famous charm, told his royal host: "You
look younger every time I see you".



Clearly delighted with the compliment, the Queen went on to joke: "It's very nice weather - arranged just for you."


What had been organised especially for the anti-apartheid hero was the
evening gala he hosted, which packed more star power than the red
carpet on Oscar night.



Hollywood was represented in abundance as Robert De Niro, Will Smith, Forest Whitaker, Uma Thurman and Denzel Washington lined up to pay homage to the great man.



Elsewhere Elton John was seen catching up with Oprah Winfrey, while political figures among the guests included Bill Clinton, in town with his daughter Chelsea, and Prime Minister Gordon Brown.


Having prepared the food for the evening Gordon Ramsay joined
the party, mingling with the likes of Formula One ace Lewis Hamilton,
who escorted American singer Nicole Scherzinger, and Bob Geldof.

Clinton, Geldof announce schools boost for Rwanda, Malawi

LONDON (AFP) — Four new teacher training facilities are to be built
in rural areas of Rwanda and Malawi under a scheme announced Thursday
by Britain, Kigali, Blantyre and charities involving Bob Geldof and
Bill Clinton.

The 4.7-million-pound (5.9-million-euro,
9.3-million-dollar) initiative will see up to 4,000 new teachers
trained within a decade, cutting existing class sizes and allowing
thousands of children to go to school for the first time.

Geldof's
Band Aid and The Hunter Foundation, set up by Scottish philanthropist
Tom Hunter, will put in the cash to build and fit out the facilities,
with Britain, Rwanda and Malawi funding the remaining costs.

Former
US president Clinton, Hunter and Geldof were at the launch of the
scheme with the ambassadors of Rwanda and Malawi at a ceremony at the
headquarters of Britain's Department for International Development in
London.

Achieving universal primary education by 2015 is one of the United Nations' eight Millennium Development Goals.

Clinton
said the initiative would try to fill "a big hole in a huge need that
Rwanda and Malawi have for 20,000 more primary school teachers."