Dr Chilima made the remarks after visiting Songwe Hill in Phalombe where Mkango Resources Limited is exploring possible mining of rare earth.
The minerals are used for manufacturing magnetic materials used in TVs, planes and phones among other technological equipment.
According to the Vice President, this echoes President Dr Lazarus Chakwera's sentiments that his Administration would like to make mining a benchmark of the country's economy, replacing tobacco which is not doing well.
Dr Chilima also visited Phalombe District Hospital which is under construction, the newly built Mulanje Mission Market and Chiringa Muloza road.
The Vice President said it is pleasing to note that Phalombe District Hospital nears completion and there is a possibility that Dr Chakwera will officially open it in October this year.