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Profile
Economic reforms undertaken since mid 1980s have
opened investments in the mining sector to both local and foreign.
The outcome has been remarkable in terms of investment in the
sector, with 82 mining licenses and over 1,500 pro specting licenses
issued
in the last five years.
The sector received a big push since early 1990s
following the major economic reforms towards market oriented economy. The
formulation of the Mineral Policy in 1997 and enactment of a new Mining Act of
1998, which repealed the Mining Act of 1979, had remarkable impact on
increase in investments in the sector. As a result of the regulatory and policy
reforms, 321 large scale prospecting licences were granted in 1998 compared
to only 100 in 1995. The sector has attracted substantial new foreign
investment in recent years. Investments made in mineral development exploration have risen beyond US$ 1bn. To date the
country remained highly prospective and under explored. Two out of three already
developed gold mines are owned by the two world largest gold producers i.e. Anglo
Gold Ltd and Barrick Corporation.
The value of mineral exports increased from $14 million in 1996 to
$711 million in 2005, underscoring the sector’s current position as
one of the fastest growing sector guarantees investors security of
tenure, repatriation of capital and profits and ensures a
transparent regulatory and administrative system in the acquisition
of mineral rights. The government’s ban on trading in and the export
of raw and uncut gemstones is meant to set the stage for the growth
of a lapidary industry in which the country could attract and
develop the requisite skills, which are currently lacking. A number
of international firms have already invested in the mining sector in
Tanzania and attest to the enormous potential of the sector.
AngloGold has invested in the Geita goldfields, while Barrick
operates the Tulawaka and Bulyanhulu gold mines. De Beers of South
Africa owns and operates the Williamson diamond mines.
Today Tanzania is among the countries which host the
most vibrant exploration and mining scene in Africa. It is the
fastest growing sector in Tanzania in terms of its contribution to
GDP and its share of exports. Tanzania is set to become the
continent’s third largest gold producer after South Africa and Ghana.
Tanzania has a wide variety of minerals such as
diamonds, gold, base metals, gemstones and industrial minerals.
Major Minerals: Gold,
diamonds, nickel, cobalt, copper and base metal, gemstones (apatite,niobium,
tanzanite), iron ore and coal
Opportunities
Mineralisation in Tanzania falls into the following
major geological groupings: -
• Gold occurrences in the Archaean greenstone belts
and banded iron formations in the Southern and Eastern parts of Lake
Victoria;
• Gold and base metals occurrences in the
Proterozoic Ubendian system in Western Tanzania;
• Nickel, cobalt, copper, tin and tungsten-bearing
rock formations in the Karagwe – Ankolean system of Northwest Tanzania;
• Major gemstone occurrences in the Proterozoic
Usagaran and Ubendian geological systems;
• Carbonatites associated with the Rift Valley
system;
• Iron ore hosted by anorthositic intrusives in the
Proterozoic Ubendian system;
• Coal resources found in the Karroo system;
• Evaporites deposited in the Rift Valley and
younger rock formations along the coastal belt; and
• A variety of industrial minerals such as kaolin,
mica, phosphate, magnesite, beach sands and diatomites embedded in different rock formations
For more information or if you have a particular
project that you would like to implement, please
contact us.
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