Tanzania launches mining strategy
The government of Tanzania has unveiled a mining strategy set to develop the country’s mining industry. Ministry of Minerals, said the strategy which was spearheaded by President Dr. Samia Suluhu Hassan, aims to promote the development of critical and rare earth minerals such as graphite, lithium, nickel, and neodymium.
The strategy involves developing a critical mineral policy to ensure supply reliability, promoting exploration and innovation, and fostering sustainable and responsible mining practices. Tanzania is emphasizing beneficiation, aiming to unlock the full potential of its mineral deposits. Beneficiation involves adding value to raw materials, which can lead to increased economic benefits.
Mining industry
Tanzania is a land rich in minerals. Mining makes up more than 50% of the country’s total exports, of which a large part comes from gold. The country has gold reserves of 10 million ounces, generating revenue of over a billion USD. Diamonds are also found in significant amounts. Since it was opened in 1940, the Williamson diamond mine has produced 19 million carats (3,800 kg) of diamonds. Gemstones, nickel, copper, uranium, kaolin, titanium, cobalt and platinum are also mined in Tanzania.
Responsible mining practices have led to significant economic benefits for Tanzania. The mining sector contributed approximately 10% to the country’s GDP in 2023 and accounted for nearly 60% of foreign exchange earnings.
The emphasis on responsible practices has attracted over US $2 billion in new investments to Tanzania’s mining sector. Additionally, there are additional commitments exceeding $1 billion, particularly in critical and rare earth minerals.
