The country’s favourable investment climate, coupled with its abundance of natural resources, makes it an attractive destination for investment
At the official press launch for the Tanzania Mining & Investment Forum 2023 (www.TanzaniaMiningInvestmentForum.com) held today in Dar Es Salaam, Honourable Dr. Doto Mashaka Biteko, Minister of Minerals highlighted the unparalleled opportunities Tanzania has to offer in its mining sector.
“It is with a great honour and deep sense of gratitude I welcome you to this meeting. As I stand here today, I would like to take this opportunity to inviting all mining stakeholders in Tanzania, from across Africa, and around the globe, to participate in the Tanzania Mining & Investment Forum, which will take place in Dar Es Salaam from 25 – 26 October, 2023. We look forward to making groundbreaking announcements, hosting bilateral and investor meetings, showcasing project development opportunities, and working with our national and global partners to unlock the full potential of Tanzania’s mining sector. We look forward to meeting you in Dar Es Salaam, as Tanzania is now placed in the high-ranking African groups in attracting foreign direct investment.”
Tanzania, a country located in East Africa, is emerging as a hub for green energy and transition minerals development and production. With its abundance of natural resources, favourable government policies, and increasing demand for sustainable energy, Tanzania is attracting attention from investors around the world.
Tanzania is rich in critical mineral deposits, which are essential components in the manufacturing of electric vehicles, renewable energy infrastructure, and other clean technologies. The country is home to significant deposits of lithium, cobalt, nickel, and rare earth elements. These minerals are in high demand as the world transitions to a low-carbon economy, a recent example of this being the agreements signed between the Tanzanian government, and three Australian companies (Evolution Energy Minerals, EcoGraf Ltd, and Peak Rare Earths), to mine rare earth minerals and graphite. The deal, worth USD $667 million, is also part of the president’s drive to fast-track negotiations on long-pending mining and energy projects.
Investors who are looking for opportunities in the green energy and transition minerals sector should take notice of Tanzania. The country’s favourable investment climate, coupled with its abundance of natural resources, makes it an attractive destination for investment. In addition, Tanzania’s location in East Africa provides strategic access to the growing markets in the region.
The Tanzanian government has also established a framework to promote responsible and sustainable mining practices. This includes the implementation of environmental and social safeguards, as well as the establishment of a regulatory framework to ensure compliance with international best practices. In addition, the government has made it a top priority to add value in-country, and invest in mineral processing and refineries, which will create jobs in-country and create local content opportunities for Tanzanian nationals and businesses.
Furthermore, Tanzania is a member of the Extractive Industries Transparency Initiative (TEITI), which promotes transparency and accountability in the management of natural resources. This provides investors with assurance that the country’s mining sector is being managed in a responsible and sustainable manner.
Honourable Dr. Doto Mashaka Biteko concluded the press launch by remarking “I warmly welcome all investors to Tanzania, the gateway to East Africa’s critical minerals development opportunities, and home of Tanzanite. Thank you very much for listening – asanteni sana.”