Development banks seek to revive world’s biggest power project
The planned Grand Inga hydropower complex in the DRC has been stalled for decades.
Malawi launched a $20 million project last week to start exploration for rare earth metals and natural gas in the southern part of the country, reports the African Press Agency.
The government expects the project to help the local economy through increased foreign exchange and other revenues.
With the extraction of rare earths and natural gas, the country forecasts its gross domestic product to jump by 10% to 20% by 2015.
An Australian company was granted the exploration licence.
