非洲各国矿产资源及矿业法律环境概览 ——马拉维篇

一、矿产资源结构与主要矿种

Mineral Resource Structure and Key Minerals

1. 稀土与铌

稀土和铌是马拉维最具战略价值的矿产。北部Kanyika铌矿是目前最重要的在建项目，由澳大利亚公司Globe Metals & Mining Ltd.持有。铌是超导材料和钢铁合金的关键原料，在能源转型和国防工业中具有不可替代的作用。此外，Songwe Hill稀土项目已进入较成熟的勘探和可行性研究阶段。

Rare earths and niobium represent Malawi's most strategically valuable minerals. The Kanyika niobium deposit in the north is the flagship project under development, held by Australian company Globe Metals & Mining Ltd. Niobium is a critical input for superconducting materials and steel alloys, serving indispensable roles in the energy transition and defense industries.

2. 磷酸盐

磷酸盐矿主要分布在中部和北部地区，是化肥生产的核心原料，在全球粮食安全和农业供应链中的战略地位日益突出。马拉维政府已将磷酸盐列为国家重点开发矿种，积极寻求国际合作开发。

Phosphate deposits are concentrated in central and northern Malawi and serve as a critical input for fertilizer production, making them increasingly strategic for global food security and agricultural supply chains. The Malawian government has designated phosphate as a priority mineral for development, actively seeking international investment.

3. 铀

东南部Chimimuku Hills区域存在铀矿资源，但铀矿开发在马拉维国内存在争议，并可能触发核不扩散相关的国际承诺和外交因素，投资前须充分评估政策可行性。

Uranium resources exist in the Chimimuku Hills area of southeastern Malawi, but uranium development is subject to domestic controversy and may trigger international non-proliferation commitments and diplomatic considerations. Investors must conduct thorough policy feasibility assessments prior to any commitment.

4. 煤炭

煤炭资源主要集中在北部和中部地区，总量有限，但在区域能源供应中具有一定补充价值，目前开采规模较小。

Coal resources are mainly concentrated in the north and center of the country, with limited total reserves, but play a supplementary role in regional energy supply. Current extraction scale is modest.

5. 石灰岩和其他工业矿物

石灰岩、大理石等工业矿物在马拉维有广泛分布，可用于建材和化工行业，开发门槛相对较低。

Limestone, marble, and other industrial minerals are widely distributed throughout Malawi, applicable in construction materials and chemical industries with relatively low entry barriers.

总体评价：马拉维矿产资源的特点是"小而精"：矿种集中，部分矿种战略价值突出；矿业产业发展尚处早期，基础设施不足是主要制约因素。对有技术优势和资本实力的投资者而言，早期进入有可能获得更优的矿权条件。

Malawi's mineral resources are characterised as "small but precise": a concentrated mineral profile with notable strategic value in select minerals; the sector is still in an early stage of development, and inadequate infrastructure is the primary constraint. For investors with technical expertise and capital strength, early entry may secure more favourable licence terms.

二、矿业产业发展现状

Current State of Malawi's Mining Industry

马拉维矿业目前仍属国民经济辅助性产业，产值占GDP的比重在非洲国家中相对较低。但近年来，随着国际资本对关键矿产关注度的提升，发展势头有所增强。以下四个趋势值得注意：

Mining currently plays a supporting role in Malawi's national economy, contributing a relatively small share of GDP compared to other African nations. However, momentum has improved in recent years as international capital takes greater interest in critical minerals. Four trends merit attention:

三、矿业许可主要类别

Principal Categories of Mining Licences

马拉维矿业许可分为勘探许可和采矿许可两大类。取得矿业权是进入矿业项目的核心前提。

Malawi's mining licence framework consists of two principal categories: exploration licences and mining licences. Securing mineral rights is the fundamental prerequisite for entering any mining project.

1. 勘探许可（Prospecting Licence / Exploration Licence）

勘探许可赋予持有人在特定区域内开展地质调查、采样、钻探和资源评估的排他性权利，通常有固定期限，到期可申请续期，须满足最低投入和勘探进度要求。

An exploration licence grants the holder exclusive rights to conduct geological surveys, sampling, drilling, and resource evaluation within a specified area. These licences are typically issued for a fixed term, renewable upon application, subject to minimum expenditure and progress requirements.

2. 采矿许可（Mining Licence / Exploitation Licence）

采矿许可是矿业项目进入商业开发阶段的核心文件。申请采矿许可通常须证明：资源量充足、具有资金和技术能力、开发方案可行、环境管理安排已就绪、税费缴纳能力已确认。

A mining licence is the central document authorising commercial development of a mining project. Applications typically require demonstration of: sufficient mineral reserves; financial and technical capacity; a viable development plan; ready environmental management arrangements; and confirmed ability to meet tax and fee obligations.

3. 特殊许可和附属许可

矿业项目通常还涉及矿产加工许可、矿产品贸易许可、用水许可等附属许可。取得采矿许可后，须根据实际运营需要另行申请相关附属许可。

Mining projects also typically require ancillary licences such as mineral processing licences, mineral product trading permits, and water use permits. Separate applications must be made for these ancillary rights following grant of a mining licence.

一、外国投资法律制度与准入限制

 Foreign Investment Legal Framework and Access Restrictions

（一）外国投资法律制度概览

马拉维一般外商投资法律框架由投资促进、公司设立、税收、劳动、移民和外汇管理等制度共同构成。马拉维投资与贸易中心（Malawi Investment and Trade Centre，简称"MITC"）是主要投资促进和一站式服务机构，承担投资者登记、投资证书办理、信息提供、许可协调和项目便利化等职能。

Malawi's general foreign investment legal framework is composed of investment promotion, company incorporation, taxation, labour, immigration, and foreign exchange management regimes. The Malawi Investment and Trade Centre ("MITC") serves as the primary investment promotion and one-stop service agency.

⚠️ 投资证书 ≠ 矿业许可
对外国投资者而言，MITC是进入马拉维市场的重要窗口，但投资证书不替代具体行业许可。若投资项目属于矿业，仍须按矿业主管部门要求申请相应矿业权。

企业设立：外国投资者通常需要在马拉维设立公司、注册分支机构或收购既有公司股权。公司注册、商业实体管理、税务登记、银行开户和行业许可属于不同程序，不能混为一谈。

Business Establishment: Foreign investors are generally required to incorporate a company, register a branch, or acquire existing company equity in Malawi. Company registration, business entity management, tax registration, bank account opening, and industry licensing are separate procedures and should not be conflated.

投资门槛：外国投资者申请投资证书的常见门槛为5万美元，但该金额更宜理解为投资证书办理层面的行政要求，而非所有矿业项目的实质投资门槛。矿业项目是否具备开发可行性，最终取决于矿权类型、项目规模、资金能力、技术能力和监管审批，而非单纯达到某一投资金额。

Investment thereshold: A common administrative threshold for foreign investors applying for an investment certificate is USD 50,000, though this is better understood as a procedural requirement for certificate issuance rather than a substantive investment threshold for mining projects.

"原则开放"不等于"无条件进入"。具体项目中，投资者仍需核查：目标矿权是否真实有效、矿业权能否转让或变更控制权、是否存在政府参与或开发协议安排、是否已完成环境审批、是否存在土地和社区争议，以及项目外汇收入能否按计划回流和汇出。

（二）外国投资主管机构与监管部门

二、矿业投资外资准入

 Foreign Investment Access in the Mining Sector

（一）矿业监管体系与机构

马拉维矿业投资的本质是"矿权驱动型投资"。矿业地籍系统具有重要意义。投资者在进入任何项目之前，应核查目标矿区是否存在有效矿权、是否存在重叠权利、矿权期限是否充足、矿种和区域是否与投资目的匹配，以及矿权是否存在欠费、未履约、争议或撤销风险。

The essence of mining investment in Malawi is "mineral right-driven investment." The mining cadastre system is of great significance. Before entering any project, investors should verify whether the target mining area has valid mineral rights, whether there are overlapping rights, whether the term of the mineral rights is sufficient, whether the mineral types and area match the investment objectives, and whether the mineral rights are exposed to risks such as arrears, non-performance, disputes, or revocation.

（二）矿业许可制度与外国投资准入

马拉维矿业对外国投资者原则上开放。外国投资者可通过新设项目公司申请矿业权，也可通过收购股权、合资开发、项目融资、承购协议或技术服务等方式参与。

Malawi's mining sector is in principle open to foreign investors, who may apply for mineral rights through a newly incorporated project company or participate through share acquisitions, joint development arrangements, project financing, offtake agreements, or technical service arrangements.

国家免费附带权益：马拉维未见类似坦桑尼亚那样普遍法定的国家免费附带权益制度，但重大或战略性矿业项目中，政府可能通过开发协议、股权安排或财政条款取得特定权益。矿业项目仍可能通过许可证条件、环境社会影响评估、社区协议或投资证书承担本地就业、培训、采购和社区发展义务。

It should be noted that Malawi does not appear to have a universal statutory free-carried-interest regime comparable to Tanzania's. However, in major or strategic mining projects, the government may secure specific interests through development agreements, equity arrangements, or fiscal provisions.

三、矿业投资相关合规制度

 Key Compliance Regimes for Mining Investment

（一）环境保护与环境影响评估

在马拉维，矿业项目通常属于环境影响较高的开发活动，环境合规应被视为矿业投资的前置性条件，而非运营后的补充事项。

并购既有矿业项目时，环境尽职调查尤为重要。投资者应重点核查：目标项目是否已完成环评、环境许可是否有效且许可范围是否覆盖现有开发方案、是否存在历史污染或未完成的复垦义务。对于涉及尾矿、废石堆场、地下水使用或居民搬迁的项目，应单独评估潜在环境责任和治理成本。

Environmental due diligence is especially critical when acquiring existing mining projects. Investors should focus on whether the target project has completed an EIA, whether environmental permits are valid, and whether any historical contamination or outstanding rehabilitation obligations exist.

（二）矿业税收与特许权费

矿业项目的经济可行性高度依赖税费结构。马拉维矿业项目的财政负担不仅涉及企业所得税，还应综合考虑矿业特许权费、预提税、增值税、进口环节税费以及项目协议中的特别安排。

The economic viability of a mining project is highly sensitive to its tax and fee structure. The fiscal burden extends beyond corporate income tax to encompass mineral royalties, withholding taxes, value-added tax, import duties, and any special arrangements under a project agreement.

跨境付款也是税务设计的重点。境外股东贷款利息、技术服务费、工程承包款、设备租赁费和股息分配均可能触发预提税。中国投资者在设计控股架构和融资路径时，应提前评估马拉维国内税法及相关税收协定安排。

Interest on offshore shareholder loans, technical service fees, engineering contract payments, equipment lease payments, and dividend distributions may all trigger withholding taxes. Chinese investors should evaluate Malawi's domestic tax laws and applicable double tax treaty arrangements when designing holding structures and financing pathways.

（三）土地使用、社区关系与企业社会责任

矿权并不当然等同于地表土地使用权。矿业项目真正落地，还需解决地表进入、占地、补偿、安置、道路、电力、水源和社区关系等一系列现实问题。

A mineral right does not automatically confer surface land use rights. For a mining project to physically materialise, a series of practical issues must be resolved: surface access, land occupation, compensation, resettlement, access roads, power supply, water sourcing, and community relations.

马拉维存在大量习惯土地和社区利益安排。投资者在矿权尽调之外，还应开展独立的土地和社区尽职调查，核查土地性质、权利主体、传统权威结构、受影响家庭数量、补偿历史、社区投诉记录及地方政府态度。

Malawi has extensive customary land and community interest arrangements. Beyond mineral right due diligence, investors should conduct independent land and community due diligence.

（四）矿产品出口、外汇管理与利润汇回

对矿业投资者而言，外汇和收益实现是最不能忽视的问题之一。矿业项目以外币投入、以出口销售或外币收入实现收益，但项目运营成本和部分本地支出以马拉维克瓦查计价。在外汇储备紧张、汇率波动或监管政策调整频繁的环境下，外汇管理直接影响项目现金流和利润汇回。

For mining investors, foreign exchange and return realisation rank among the most critical considerations. Mining projects typically receive capital in foreign currency and generate revenue through export sales or foreign currency receipts, yet operational costs and certain local expenditures are denominated in Malawian Kwacha.

投资者至少应提前评估以下问题：股本金进入是否需登记或通过授权银行办理；境外股东贷款是否需备案；出口收入是否须在特定期限内回流；是否存在强制结汇或交售要求；股息、利息、服务费和管理费能否按计划汇出；关联交易、承购协议和离岸销售结构是否会被外汇或税务机关关注。

Investors should, at minimum, evaluate the following in advance: whether capital contributions into Malawi require registration or authorised dealer processing; whether offshore shareholder loans require filing; whether export proceeds must be repatriated within a specified period; whether mandatory conversion or surrender requirements apply; whether dividends, interest, service fees, and management fees can be remitted as planned; and whether related-party transactions, offtake agreements, and offshore sales structures will attract scrutiny from exchange control or tax authorities.

进入马拉维矿业市场前，建议投资者至少完成五项前置工作：

Prior to entering the Malawi mining market, investors are advised to complete at least the following five preparatory steps:

矿业投资只有从"资源故事"转化为"可执行项目"才有意义。对于中国投资者来说，马拉维的机会存在，但项目成败往往取决于投前尽调是否扎实，以及投资结构是否能够同时满足矿权、环境、土地、税务和外汇五条主线的合规要求。

Mining investment only has value when it transitions from a "resource narrative" to an "executable project." For Chinese investors, the opportunity in Malawi is real—but project success typically hinges on the depth of pre-investment due diligence and whether the investment structure can simultaneously satisfy compliance requirements across five critical dimensions: mineral rights, environment, land, taxation, and foreign exchange.

本系列此前已发布《非洲各国矿产资源及矿业法律环境概览——坦桑尼亚篇》《非洲各国矿产资源及矿业法律环境概览——马达加斯加篇》等，如需回顾可查看本号历史文章。本系列将持续更新非洲各主要矿业国家的投资法律环境分析，敬请关注。

This series has previously published "Overview of Mineral Resources and Mining Legal Frameworks in Africa: Tanzania" and "Overview of Mineral Resources and Mining Legal Frameworks in Africa: Madagascar," available in the archive. The series will continue to cover investment legal frameworks across major African mining countries.