TANZANIA’S Deputy Minister of Minerals, Steven L. Kiruswa, will take the stage as a distinguished speaker at the forthcoming Critical Minerals Africa (CMA) 2023 summit, reinforcing Tanzania’s stature as a leading mining hub. This participation highlights Tanzania’s strategic position in the global mining arena.
In response to the surging demand for green energy and transition minerals, Tanzania has garnered international attention for the extraction and utilisation of its critical mineral resources. The country is committed to increasing the mining sector’s contribution to its GDP to 10 percent by 2025. Notably, last April, the Tanzanian government entered into contracts worth $667 million with three Australian firms for the mining of graphite and rare earths. Additionally, Tanzania seeks to enhance collaboration with Australian service providers in the domains of mining, machinery, and technology services.
Furthermore, the United States, recognising Tanzania’s potential, unveiled plans in March to bolster bilateral trade and investments. Recently, a $500 million trade agreement was inked to facilitate the export of goods and services in critical sectors such as infrastructure, energy security, and power generation. The US is also supporting the construction of a mineral processing plant in Tanzania, spearheaded by British metals company LifeZone Metals. The facility, slated to employ low-emission technology, will commence exporting battery-grade nickel to the US starting in 2026.
Tanzania is home to extensive reserves of critical and industrial minerals, metallics, coal, uranium, and gemstones, including the renowned tanzanite. It stands as an established mining market and ranks as the third-largest gold producer on the African continent. The mining sector plays a pivotal role in Tanzania’s economy, contributing over half of the nation’s total exports, with a significant portion originating from gold production around Lake Victoria. As a result, investment opportunities in Tanzania span the entire mining value chain, encompassing resource extraction, precious metals and gemstone processing, iron ore and steel production, and the electrification of mining regions.
Beyond its mineral wealth, Tanzania’s geostrategic location offers direct trade routes to Asia and connectivity to six landlocked East African nations. Additionally, Tanzania’s commitment to transparency is affirmed by its membership in the Extractive Industries Transparency Initiative.
Critical Minerals Africa 2023 will delve into Tanzania’s potential to emerge as a regional leader in the critical minerals sector, serving as a bridge for investors and project developers to explore promising opportunities in the country.
The Critical Minerals Africa 2023 summit, scheduled for October 17-19, aims to position Africa as the primary investment destination for critical minerals. Organised by Energy Capital & Power, the event will run concurrently with the African Energy Week 2023 conference, offering attendees comprehensive access to energy, mining, and finance leaders in Cape Town. For inquiries from sponsors, exhibitors, and delegates, please contact sales@energycapitalpower.com.
