Tanzania: The Emerging Mining Hub in Africa
Posted on : Tuesday, 2nd July 2024
Tanzania is poised to develop as a major mining powerhouse in Africa. Utilising strategic measurements and incentives to attract investment. Dr. Steven Kiruswa, the country's Deputy Minister for Minerals, emphasised the mining sector's rapid expansion at an annual rate of 10.9%, which contributes considerably to the national economy. The government's investor-friendly policies and regulations have played an essential part in nurturing this expansion, with further investment expected in the near future. The government's investor-friendly policies and regulations have played an essential part in nurturing this expansion, with further investment expected in the near future.
Under President Samia Suluhu Hassan's leadership, the State Mining Corporation (STAMICO) has been enabled to expand its position in the sector through joint ventures with international businesses that offer modern technology and cash. This programme is consistent with the objective of owning significant mining operations and supporting small-scale miners, resulting in higher earnings for the industry. The government's emphasis on technological developments, such as providing cutting-edge instruments to the Geological Survey of Tanzania (GST) for extensive mapping of mining reserves, demonstrates its dedication to increasing industry efficiency and productivity.
Tanzania's collaboration with other African states through the African Mineral Strategy Group strengthens its position in promoting strategic minerals and value addition. The creation of the Multimetal Processing Facility in Kahama demonstrates the government's commitment to adding value to essential minerals such as nickel. Tanzania's proactive approach to expanding its mining sector not only represents economic prosperity, but also sets a model for other African countries to optimise their natural resources in a sustainable and inclusive manner. The country's progress towards becoming a mining superpower marks a positive future for the continent's mineral industry.
