DODOMA, May 16 (NNN-DAILYNEWS) — TANZANIA’S mining sector is on track to meet its ambitious goal of collecting 1tri/- for the 2024/2025 fiscal year, having already achieved 90.2 percent of the target by May 2025.
With just 45 days left in the current financial year, the sector is poised to exceed expectations.
Minister of Minerals, Anthony Mavunde, shared the milestone during a press conference in Dodoma, where he highlighted the impressive achievements of the mining sector, the sixth phase of the government.
Also, Mavunde pointed out that the sector performance has far exceeded the projections set by the 2009 Mineral Policy and the Five-Year National Development Plan, both of which aimed for the mining sector to contribute 10percent of Tanzania’s GDP by 2025, as of 2024, the mining sector’s contribution has already surpassed that target, reaching 10.1percent.
“We have successfully surpassed the national target. In 2021, the mining sector contributed 7.3 percent to the national GDP, in 2023 it reached 9.1 percent, and now we are at 10.1 percent by 2024. This is something to be proud of,” said Minister Mavunde.
He also explained that the mining sector has become a vital driver of Tanzania’s foreign exchange earnings, with mineral exports reaching 3.55bn/- US dollars in 2023, representing 46.1 percent of the country’s total export value.
Additionally, he said the sector has provided significant opportunities for local businesses. Tanzanian companies have supplied 92 percent of the goods and services needed in the mining industry, with a total value of 3.5bn/-US dollars.
He also said the sector has played a key role in job creation, between 2021 and 2023; over 19,000 jobs were created, with 97.4 percent of these positions filled by Tanzanians.
Furthermore, Minister Mavunde shared that efforts to strengthen the country’s mineral processing capacity are well underway, with nine processing plants currently operating.
He said these plants focus on processing metals such as copper and nickel, including a major processing facility at Kibanga Nickel near Buzwagi.
Additionally, he revealed that six more processing plants are planned to be built in Dodoma.
He also said that the government is constructing an eight-story building for the Tanzania Gemological Center (TGC) in Arusha, which is designed to add value to the gemstone industry. — NNN-DAILYNEWS
