Tanzania’s mining sector will be up for discussion during a Mining and Investment Forum set down for October this year.
The sector is vital for foreign exchange earnings and bolstering socio-economic growth and the sustainable development of the East African country.
Recent reports show that the contribution of the mining sector to the Gross Domestic Product (GDP) from July to September last year was 9.7%, just off the 10% targeted in the nation’s National Development Vision 2025.
When tabling its budget last August, the Finance Ministry revealed that minerals remain among the top sectors in the country, bringing in huge foreign returns.
Mining minister Dr Doto Biteko disclosed that the forum will be held at the Julius Nyerere International Convention Centre on October 25 and 26 in Dar es Salaam.
"Tanzania is emerging as a hub for green energy and transition minerals to get to such energy. With its abundance of natural resources, favourable government policies and increasing demand for sustainable energy, the country is attracting attention from investors worldwide," Biteko said.
He added that over the years, the sector has embraced and promoted the involvement of the private sector in developing numerous projects that are instrumental for the country’s development.
Biteko attributed this to favourable legislation which provides a broad scope for conducting mining and allows the participation of the global population to invest in exploration, mining, mineral beneficiation, value addition, trading and industry-related services.
The government has been actively seeking such foreign participation since 2017.
He outlined that the minerals included metallic (gold, iron, nickel, copper, rare earth elements, niobium, lithium, cobalt, lead and platinum group metals), gemstones (tanzanite, ruby, sapphire, spinel, amethyst, rhodolite and tsavorite) and industrial ore.
