Beyond diamonds: Tanzania stakes claim on global mineral demand

Tanzania is making significant strides in the global mining industry as the country seeks to attract investors and promote its mineral resources. Speaking at the Mining Indaba in Cape Town, South Africa, Steven Kiruswa, Deputy Minister of Minerals, Tanzania, highlighted the country's commitment to creating a conducive environment for investors and leveraging its rich mineral deposits to boost the economy. Kiruswa emphasized that Tanzania has undergone serious reforms under the leadership of President Dr. Sania Suluhasan, who recognizes the potential of the country's mineral resources in driving economic growth. The government is keen on collaboration with the private sector to explore investment opportunities in critical metals that are essential for the future. At the Indaba, Tanzania showcased its abundant mineral resources, including nickel, graphite, and other sought-after minerals. The country's emphasis on developing infrastructure, such as railroads, paved roads, airports, and ports, demonstrates its commitment to supporting mining operations effectively. One of the key messages conveyed to potential investors is the favorable investment climate in Tanzania. The government offers incentives like tax breaks and established frameworks to ensure the safety and security of investments. Tanzania Investment Centre plays a crucial role in facilitating investment opportunities and providing a peaceful environment for businesses to thrive. Moreover, Tanzania's focus on sustainability and social upliftment is evident in its approach to beneficiation and value addition in the mining sector. The country has implemented local content regulations to promote the utilization of local resources and prioritize processing and adding value to minerals within its borders. Kiruswa outlined Tanzania's long-term vision of becoming a hub for end-user products derived from locally produced mineral resources. By partnering with investors through framework agreements, the government aims to enhance beneficiation efforts, create employment opportunities, and drive capacity building in the country. The response from the private sector to Tanzania's beneficiation strategy has been positive, with investors showing interest in the win-win partnership model proposed by the government. Under the framework agreement, investors retain a significant share of ownership while contributing capital and technology to support the development of the mining sector. Looking ahead, Tanzania is optimistic about attracting major investors to capitalize on its abundant mineral resources and infrastructure development. The country's commitment to sustainable mining practices and value addition sets a promising trajectory for future growth and investment opportunities in the global mineral market.