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Tanzanian Minister for Minerals Anthony Mavunde, said at a recent meeting with mining stakeholders that the move was intended to improve the financial flow in the economy and give dealers a wider chance to make profits
Tanzanian Minister for Minerals Anthony Mavunde, said at a recent meeting with mining stakeholders that the move was intended to improve the financial flow in the economy and give dealers a wider chance to make profits. The stakeholders, included miners, mineral refiners, mineral traders, the Ministry’s institution executives, the Ministry of Finance, and BOT.
The meeting looked at how mining stakeholders can be empowered in refining, and trade, especially in the area of enabling them to get loans, do business in the country, and get profit while the government gets taxes and increases foreign currencies.
Mavunde said that previously, the Ministry held discussions with financial institutions to provide education on the best way to empower mining stakeholders through loans and emphasized that strategies have empowered small-scale miners by providing them with mining sites and resources.
He also revealed that the government has devised a plan that involves selling minerals domestically at a price that corresponds to the global market to help the mining industry play a significant role in bringing foreign exchange. He also explained the advantages of minerals being sold to BOT. This will help accelerate the flow of foreign exchange and increase trading activities that would help ordinary citizens. The Ministry, he assured, in partnership with other institutions, would keep on training miners and mineral dealers to make their operations viable and profitable.
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The Minister further said that the government would keep supplying small-scale miners with tools, particularly rock-cutting machines, noting that the government plans to import 15 rock-cutting and carving machines by June next year.
