MINERALS minister Anthony Mavunde has urged African nations that are key producers of strategic minerals to establish robust management systems to boost the continent’s economy.

He made the call on Wednesday here during the 13th Annual Mineral Wealth Conference, themed “Leveraging Critical Minerals for Sustainable Development and Economic Transformation.” 

Emphasizing the importance of developing strong strategies for adding value to minerals within producing countries, he said the conference served as a platform for stakeholders in the mining sector to engage in high-level discussions, network, and explore business opportunities related to critical minerals.

He applauded host President Yoweri Museveni for his decisive action to ban the export of raw minerals outside the country. “This is a significant step for the development of Uganda's mining sector,” he declared.

He cited similar efforts locally, asserting that the government made it clear that any investor seeking to engage in strategic mineral extraction in Tanzania must present a comprehensive value addition plan.

 The minister highlighted the mining sector’s strong performance, noting its contribution to Tanzania’s GDP reached 9 percent in 2023. Additionally, it yielded 56.2 percent of the country's total export value, estimated at $3.5bn.

Large-scale miners contribute 60 percent of revenues from the sector and small-scale miners 40 percent. “This has prompted the Tanzanian government to focus on supporting small-scale miners to enhance productivity and their contribution to the national economy,” he stated.

He further stressed the necessity for countries to invest in research to understand available mineral quantities and attract investors. 

Tanzania's Vision 2030 plan aims to expand exploration efforts, increasing aerial survey coverage from 16 percent to 50 percent by 2030, he told the gathering.

“It is a fact that Tanzania has made significant strides in developing its mining sector compared to Uganda,” he remarked, expressing Tanzania’s willingness to cooperate and share experiences with Uganda to help them benefit from their mineral resources.

He emphasized the need for African nations to develop joint strategies to capitalize on the increasing global demand for strategic minerals such as graphite, nickel and cobalt. 

Extraction and value addition should occur within their borders to protect jobs, increase revenue and promote overall economic growth, he emphasized.

Dr Ruth Ssentamu, the host Energy and Minerals Development minister, reaffirmed Uganda’s commitment to ensuring the mining sector, particularly for strategic minerals, benefits the nation. 

She expressed Uganda’s readiness to learn from Tanzania’s progress and attract substantial investments in research to enhance the efficiency of its sector, which currently comprises over 80 percent small-scale miners.