Chilwa Minerals is an early-stage mineral exploration company focused on the Chilwa Critical Minerals Project in southern Malawi. The company holds three exploration licenses covering 881 km² targeting heavy mineral sands, rare earth elements, and niobium. Its heavy mineral sands deposits contain ilmenite, zircon, rutile, and garnet, while its exploration targets also include rare earth elements in monazite and clay horizons as well as carbonatite-hosted niobium. Chilwa does not produce minerals or generate revenue, funding its operations entirely through equity capital. The company's current activities center on sonic and diamond drilling, geological surveys, and metallurgical test work to define mineral resource estimates. Chilwa pursues a staged development strategy, planning to build heavy mineral sands mining and processing operations first to generate commercial cash flow before developing its rare earth element and niobium deposits. Under Malawian regulations requiring domestic processing, Chilwa plans to process minerals in-country and use the Nacala rail corridor to transport products to port.