Tanzania is poised to emerge as a prominent mining hub in Africa, leveraging strategic measures and incentives to attract investors. Dr. Steven Kiruswa, the Deputy Minister for Minerals, highlighted the country’s rapid growth in the mining sector, with an annual rate of 10.9%, contributing significantly to the national economy.
The government’s investor-friendly laws and regulations have played a pivotal role in fostering this growth, with expectations of further investor influx in the near future. The commitment to local content policies ensures active participation of Tanzanians in the mining supply chain, with a remarkable 97% engagement of local companies in providing services and products.
Under the leadership of President Samia Suluhu Hassan, the State Mining Corporation (STAMICO) has been empowered to enhance its role in the sector through joint ventures with international companies, bringing in advanced technology and capital. This initiative aligns with the vision to own major mining operations and support small-scale miners, facilitating increased earnings for this sector.
The government’s focus on technological advancements, such as empowering the Geological Survey of Tanzania (GST) with cutting-edge tools for comprehensive mapping of mining deposits, underscores its commitment to driving efficiency and productivity in the industry.
Collaboration with other African nations through the African Mineral Strategy Group further enhances Tanzania’s position in promoting strategic minerals and value addition. The establishment of the Multimetal Processing Facility in Kahama exemplifies the government’s dedication to adding value to critical minerals like nickel.
Tanzania’s proactive approach towards developing its mining sector not only signifies economic growth but also sets a precedent for other African countries to optimize their natural resources sustainably and inclusively. The country’s strides towards becoming a mining powerhouse herald a promising trajectory for the continent’s mineral industry.
Source link : https://africa24.it/en/2024/06/14/tanzania-the-rising-mining-hub-in-africa/
Author :
Publish date : 2024-06-14 07:18:56
Copyright for syndicated content belongs to the linked Source.
