(3 Minutes Read)
Tanzania will soon become a mining hub on the African continent through strategic and tactical measures, which offer investors favorable conditions and incentives.
Tanzania will soon become a mining hub on the African continent through strategic and tactical measures, which offer investors favorable conditions and incentives.
The Deputy Minister for Minerals, Dr Steven Kiruswa said this during a high-level roundtable discussion on the first day of the Tenth edition of the Mining and Energy Conference and Exhibition held at the Joaquim Chissano Centre over the weekend.
He said the mining sector is growing fast at an annual rate of 10.9 percent, contributing 9.1 percent to the national economy. The stable growth of the mining sector in Tanzania is a result of laws and regulations which are friendly to investors and the country expects to register more investors in the coming few months, the minister said.
The two-day conference which was opened by President Filipe Nyusi has attracted over 1,000 participants from all over the globe including ministers from the region. The government has adopted a local content policy to ensure Tanzanians are actively engaged in the mining supply chain by providing services and products that are locally sourced. He said the participation of local companies in providing services and products in the mining sector has reached 97 percent and the government is excited by the progress made so far.
The deputy minister also said that the government is collaborating with other countries on the continent in promoting strategic and critical minerals through the African Mineral Strategy Group to add more value and sell finished products. In Tanzania, the deputy minister said, the government has done its part by setting up a Multimetal Processing Facility in Kahama, Shinyanga Region to add value to nickel and other critical minerals.
Read Also:
https://trendsnafrica.com/tanzania-to-benefit-from-global-carbon-trade/
He further said the government has empowered the Geological Survey of Tanzania (GST) to use state-of-the-art technology to map the whole country and come up with real-time data on mining deposits.
