In a recent discussion hosted by Mwananchi Communications Limited (MCL) in collaboration with the Ministry of Minerals and the Tanzania Chamber of Mines (TCM), government officials and key stakeholders presented a forward-looking vision for Tanzania’s mining industry.
Themed “Where We Are, Where We’re Going, Toward the International Mining Investment Conference in Tanzania,” the event focused on policies, reforms, and strategies to position Tanzania as a key player in the global mining sector.
The Minister of Minerals, Hon. Anthony Mavunde, outlined the government’s commitment to harnessing mineral resources for the country’s socioeconomic development.
Highlighting the 2009 Mining Policy, Mavunde noted its emphasis on integrating mining with other sectors like agriculture, energy, and water to create a balanced and sustainable economic foundation.
Tanzania’s Vision 2030 reinforces the approach by prioritizing the use of mineral wealth as a foundation for national prosperity.
Mavunde emphasized the importance of scientific mining practices, which conserve capital and protect the environment.
Currently, geological surveys cover 16% of Tanzania’s land, with a goal to expand to 50% by 2030. This expanded research will provide accurate data on mineral deposits, facilitating sustainable extraction and reducing environmental impacts.
The government is also modernizing the mining sector by establishing domestic mineral laboratories in Dodoma, Geita, and Chunya, an initiative that will enable miners to analyze samples locally, reducing costs and improving efficiency.
“These labs represent a major step in making crucial services accessible to our mining community,” said Mavunde.
In line with these efforts, the Tanzanian government implemented reforms in 2017 to promote transparency and streamline operations.
The changes have contributed to the mining sector’s increased GDP contribution, rising from 7.2% in 2022 to 9.0% in 2023, with a goal of reaching 10% by 2025.
According to Mavunde, the reforms make the sector more attractive for investors and ensure that the benefits of mining reach a broader segment of Tanzanian society.
In another significant development, the Bank of Tanzania (BoT) has launched a gold purchasing initiative to strengthen the country’s foreign reserves, a program that provides economic stability by creating a solid gold reserve that can mitigate the impact of global currency fluctuations.
The program has several key benefits: it strengthens foreign reserves, reduces dependency on foreign currencies, and provides a stable and profitable resource. The initiative also supports local small-scale miners by creating a reliable market for gold, fostering growth within the sector.
Additionally, the government anticipates that the program will reduce revenue losses from informal gold sales and smuggling, boosting state revenue and enhancing Tanzania’s financial resilience.
Engineer Yahaya Samamba, Permanent Secretary of the Ministry of Minerals, shared additional efforts to support small-scale miners, particularly young people and women, through the Mining for Brighter Tomorrow (MBT) program.
The initiative helps local miners secure licenses and access financing through more than ten partner banks, creating new opportunities for Tanzanians to benefit from the mining sector.
The State Mining Corporation (STAMICO) has also invested in advanced drilling equipment that provides affordable services to small-scale miners, enabling them to access resources more effectively and support sustainable growth.
Engineer Benjamin Mchwampaka, Executive Secretary of TCM, expressed the Chamber’s support for government-led reforms.
He emphasized the importance of adding value to Tanzania’s minerals before export to maximize their economic contribution.
Mchwampaka highlighted the critical role of public-private collaboration in strengthening the mining sector, creating jobs, and fostering sustainable economic development.
As Tanzania prepares for the International Mining Investment Conference, the country’s mining sector is poised for sustainable growth and increased global engagement.
Through strategic policies, substantial investments, and a commitment to sustainable development, Tanzania is emerging as a prime destination for mining investment in East Africa.
Leaders concluded by encouraging potential investors to join Tanzania’s mining journey, highlighting the sector’s vast opportunities for growth, collaboration, and economic impact.