Hunan Sunwalk Signs $7B MoU for a Mining Project in Malawi

On 16 June 2025 in the margins of the China-Africa Economic and Trade Expo 2025 (#CAETE2025), the Malawian Ministry of Mines and Hunan Sunwalk Group (SZE: 300515) signed a Memorandum of Understanding (MoU) to invest and develop the mining sector in Malawi. The scope of the MoU encompasses the large-scale titanium extraction project, initially, followed by setting up processing facilities, eventually. Titanium ores have been found at Salima and Kasiya, both off the southeast shores of Lake Malawi.

Malawian Minister of Mines Ken Ng’oma hailed the deal as a historic breakthrough which is in line with the vision of President Lazarus Chawera to develop the mining sector into a pillar of the Malawian economy. Malawi has significant reserves of #CriticalMinerals, including Rare Earth Elements (#REE), which remain largely unexploited.

“This MoU signals a new era, anchored in sustainability, innovation, and inclusive growth. It aligns squarely with President Chakwerra’s agenda to turn mining into a driver of national development.”

Malawi Minister of Mines Kennedy Ng’oma

On the other hand, Hunan Sunwalk Founder and CEO HOU Xingwang qualified the agreement as a ‘strategic milestone’ for both parties and believes that it will catalyze the flow of capital, technology, and skills between the two countries. Minister Ng’oma emphasized that the mining project must go beyond mere extraction and deliver technology transfer, capacity building and must be conducted in compliance with legal and environmental regulations.

Sunwalk has already started exploration and studies in the Salima district. Geologist first discovered #titanium ore in the form of ilmenite in the sand on the shores of Lake Malawi back in the 1980s. Sunwalk initially made its fortune in construction and real estate in China and is now diversifying into other areas.