Tanzania’s State Mining Corporation (STAMICO) has announced plans to issue new exploration licenses for critical minerals, focusing on untapped resources of graphite, cobalt, and nickel in previously unexplored basins.
This initiative aims to position Tanzania as a leading supplier of essential minerals needed for global clean energy and technology applications.
In an interview with Energy Capital & Power at the Critical Minerals Africa 2024 event, STAMICO’s Managing Director, Dr. Venance Mwasse, emphasized that comprehensive geological data is vital to drive exploration efforts.
He noted that STAMICO is seeking new joint ventures to tap into these untapped basins and build on the country’s critical mineral potential.
“The key to advancing this new critical minerals industry is robust geological data, which is why Tanzania is investing in exploration through Vision 2030,” Dr. Mwasse explained. “Our main objective is to de-risk critical mineral prospects in Tanzania and attract strategic investments.”
Dr. Mwasse highlighted that the initiative aligns with Tanzania’s economic growth goals by encouraging investment in critical minerals and associated industries.
“We are balancing two priorities: contributing to global climate solutions and harnessing our mineral resources to support economic growth and job creation,” he said. “This is why we need local processing facilities to maximize in-country employment and economic impact.”
Supporting this goal, Tembo Nickel Corporation Limited is setting up a multi-metal refinery in Kahama, Tanzania. The facility is designed to meet local processing demands and support downstream markets in neighboring Burundi and the Democratic Republic of Congo.
Dr. Mwasse added, “African markets should identify synergy opportunities and strategically map value chain activities to address global demand while also benefiting local communities.”
To further bolster Tanzania’s exploration capacity, STAMICO has invested in advanced geophysical equipment and 14 drilling rigs, which will be available to exploration partners.
This investment underscores Tanzania’s commitment to leveraging its critical mineral assets for regional growth and sustainable development.
