Company overview

Chilwa Minerals Limited is an Australian exploration company focused on the Chilwa Critical Minerals Project around Lake Chilwa in southern Malawi. It drills, samples and studies deposits to determine whether heavy mineral sands and rare earth elements can be mined profitably. Its subsidiaries hold exclusive exploration rights for these minerals, but the company has not established mineral reserves or decided to develop a mine.

There are no mineral sales or commercial production today. Income so far has come from interest on cash holdings, while investors buying newly issued shares provide the main funding for exploration and running costs. Continuing work depends on obtaining more capital; without it, Chilwa may need to scale back or suspend exploration. If production begins, the company expects mineral sales to supply substantially all revenue.

Exploration rights alone do not allow Chilwa to mine and sell minerals. It needs a mining license, prior environmental approval and a mining development agreement, with export permits also required for overseas sales. Malawi bans exports of raw minerals, including heavy mineral sands and rare earth elements, but allows minerals processed, refined or otherwise given added value within the country.