Hon. Dr. Steven L. Kiruswa, Deputy Minister of Minerals in Tanzania, will be among the distinguished speakers at the upcoming Critical Minerals Africa (CMA) 2023 summit. His participation underscores Tanzania’s emergence as a prominent mining destination in Africa.
Tanzania is garnering international attention for its critical mineral resources, driven by the rising demand for green energy and transition minerals. The country aims to boost the mining sector’s contribution to its GDP to 10% by 2025.
In April, the Tanzanian government entered into contracts worth $667 million with three Australian companies for graphite and rare earth mining. It is also actively seeking to enhance collaborations with Australian service providers specializing in mining machinery and technology.
Furthermore, the United States has expressed its intention to strengthen trade and investment ties with Tanzania.
This includes a $500-million trade agreement signed last March, focusing on infrastructure, energy security, and power generation.
The U.S. is supporting the construction of a low-emission mineral processing plant in Tanzania by LifeZone Metals, which will export battery-grade nickel to the U.S. starting in 2026.
Tanzania is endowed with substantial deposits of critical minerals, industrial minerals, metallics, coal, uranium, and gemstones, including the renowned tanzanite.
It ranks as the third-largest gold producer on the continent, with over half of the country’s total exports originating from the mining sector.
The abundance of gold, particularly around Lake Victoria, provides lucrative opportunities for mining investors across the entire value chain, from resource extraction to precious metal and gemstone processing, iron ore and steel production, and electrification of mining areas.
In addition to its mineral wealth, Tanzania’s strategic location boasts direct trade routes to Asia and facilitates trade with six landlocked East African countries.
The country also maintains a stable operational environment, exemplified by its membership in the Extractive Industries Transparency Initiative.
The CMA 2023 summit will delve into Tanzania’s potential to become a regional leader in the critical minerals market.
It will serve as a platform for connecting investors and project developers with promising opportunities in the country’s burgeoning mining sector.
