Tanzania is expected to capitalise the 5thmining & investment conference scheduled to be held between November 19th and 21st to promote investments in minerals value addition in order to capture largest share of the sector’s value chain.

The country has traditionally been exporting raw minerals concentrates, specifically those produced by large and medium scale miners, before changing its laws in 2017, which requires new entrant into the sector to ensure commitments in adding value locally.

The conference jointly organized by the ministry of minerals and the Tanzania Chamber of Mines (TCM) is expected to attract key stakeholders from the mining industry, government officials, investors and experts to explore opportunities,  foster partnerships and chart a path toward sustainable mining practices.

Speaking during the press conference to official launching of the event yesterday, the minister for minerals Anthony Mavunde said since 2017 the government has emphasized on minerals value addition, through putting tough requirement for new entrants to commit on locally value addition.

“Since Tanzania is country rich in mineral resources, and therefore promoting value addition is crucial for realizing the full potential of the mining sector,” he said.

“Historically, Tanzania has been predominantly exporting raw minerals without significant processing, missing out on the opportunity to capture a larger share of the value chain. By encouraging local processing and beneficiation of minerals, the country can create a more sustainable and inclusive mining industry that benefits local communities and the economy as a whole.”

The minister stated that by encouraging local processing and beneficiation of minerals, the country can create a more sustainable and inclusive mining industry that benefits local communities and the economy as a whole.

“During tabling the 2024/2025 budget, I clear stated that we will not issue any license for new minerals investors if they will not provide comprehensive plan for value addition,” said the minister.

He said the government will continue to put in place conducive environment including infrastructure, laws and regulation to attract more investors in the mining sector, to increase its contribution to the economy.

Currently, the mining sector contributes 10.4 percent to the Gross Domestic Product, which results into generating 2.1trn/- in local taxes, US$3 billion in investments and US$3.3 billion to the foreign exchange earnings.

The minister explained that some investors have shown commitments, including the planned US$500 million Buzwagi Smelting Plant by Kabanga Nickel project.

He said, the Mineral Policy of 2009, emphasizes creation of conducive environment for the development of mining business and is supported by flexible and predictable legislations, reliable infrastructures and access to financial services. 

Since 2017, he said, the Ministry of Minerals worked tirelessly in promoting the sector and provided awareness on available opportunities in the mining industry. 

“This has attracted integration of the sector with other sectors of the economy and has successfully raised appetite and enabled the flow of capital from the financial institutions to various mining projects. With respect to that, we have seen a significant improvement to the small-scale sub sector,” he said.

He said the efforts made by President Samia Suluhu Hassan have resulted on attracting more investors in the mining sector whereby currently the world has witness signing of nine Framework Agreements by the Government of Tanzania with Multinational Mining Companies from different countries in the world.

“Tanzania has substantial mineral deposits, which require value addition,” said deputy permanent secretary, ministry of minerals Msafiri Mbibo, noting that the sector will be well regulated to attract more investors, specifically in value addition.

The executive secretary, Tanzania Chamber of Mines, Benjamin Mchwampaka said “As we are embarking on critical minerals, value addition is a key”.

The conference will provide a platform for participants to engage in meaningful discussions, share insights, and identify strategies for enhancing the sector’s contribution to the country’s economy and sustainable development.

The conference is specifically targeting to promote Tanzania’s mining potentials by offering platform for investors to connect with mining companies, explore potential projects, and facilitate investment deals, foster public-private partnership, knowledge sharing and capacity building.

In recognizing the importance of environmental and social responsibility, the conference will focus on promoting sustainable mining practices, including environmentally friendly mining technologies, community engagement, and responsible resource management.