Reply to thread

Message

[QUOTE="Munyaradzi Mafaro, post: 70114, member: 636"]
Tanzania intends to expand mining industry contributions through comprehensive development initiatives that target domestic mineral processing and enhanced oversight of exploration activities. President Samia Suluhu Hassan told parliamentarians in Dodoma that authorities will complete assessments of rare-earth deposits while reviewing existing permits to redirect undeveloped claims toward serious investors. The sector's economic contribution grew from 6.8 percent to 10 percent between 2020 and 2024, with officials expecting further gains as the nation surveys additional mineral-rich geological areas beyond the current 16 percent coverage.

Authorities plan to establish dedicated zones for small-scale operators, supported by financing and equipment access, while continuing central bank purchases of gold from artisanal miners to reduce smuggling. The administration aims to position the country as the regional center for mineral trading through facilities including the Tanzanite Exchange Centre in Mirerani and a multipurpose refinery for domestic concentrate processing.

Officials will create a sovereign wealth fund to preserve mineral revenues for future populations, recognizing the finite nature of extraction resources across the East African nation.
[/QUOTE]

Name