- Tanzania is planning to attract over 2000 local and international investors to explore the vast opportunities in her mining industry.
- The October 25 to 26th forum will help unleash strategies to execute better projects, finances, and investments.
- By 2025, the government of Tanzania projects that the mining sector will account for 10 percent of her GDP.
Over 2000 local and international investors are set to meet in an international conference in Dar es Salaam to explore innovative ways to unlock the full potential of Tanzania’s mining industry. The international conference, which will be held on October 25 and 26, will be hosted by the government in Dar Es Salaam in collaboration with the private sector via DMG Events
“Tanzania miners can’t work in isolation. We need to work with the world; hence you are welcome,” Dr Doto Mashaka Biteko, Minister for Minerals said at the Tanzania Mining and Investment Forum briefing.
Tanzania’s mining industry value chain
According to DMG Events President Damian Howard, the global conference is tailored to unveil critical opportunities in the sector that can be harnessed to unlock growth in Tanzania’s mining industry’s value chain.
“We are honoured to bring the conference online and give Tanzania the platform to interact with international investors and stakeholders. Around five percent of global graphite is in Tanzania; such potential needs the world’s attention,” he added.
Hon. Ambassador Abdulsamad Abdulrahim, from Tanzania Mining and Investment Forum, added that the conference will feature bilateral and investor briefings, with global investors discussing various strategies on mining investments.
“The main focus will be unleashing strategies to execute better projects, finances, investment and local content. It is all about showing Tanzania’s readiness towards the international mining industry,” said Ambassador Abdulrahim.
Over 20 conference sessions
Under the theme: Unlocking Tanzania’s Future Mining Potential”, Tanzania Mining & Investment Forum 2023 will connect the country’s mining community players with their counterparts from Africa and globally.
Some of the high-profile delegates expected at the forum are Ministers, CEOs, policymakers, and various industry leaders.
The meeting will have over 20 conference sessions, at least 100 companies exhibiting, and more than 25 countries represented. The ministry says the mining conference will help devise cooperation strategies that are vital in unlocking growth in Tanzania’s mining sector.
Overall, the Ministry of Mining is seeking to create government-to-business (G2B) and business-to-business (B2B) investment opportunities that can power Tanzania’s extensive mine-to-market value chain.
According to Dr Biseko, the conference will be a lucrative ground for Tanzania’s growing mining industry. This is because local small-scale miners will be learning and adapting to new ways of operations.
Barrick Gold mining saga
“It is a breeding ground for learning and exchanging knowledge and ideas, especially for small-scale miners, who account for 40 percent of revenue in the sector,” he explained.
The mining industry in Tanzania has been featured in a series of institutional framework changes over the past decade.
The latter resulted in some controversies with global ramifications. For instance, British mining giant Barrick Gold (Acacia) was hit with a $300 million bill. The was out of a long-running tax dispute under the late President John Magufuli’s government .
The mining saga brought various policy and legislative changes in Tanzania. A key highlight was introduction of 50/50 economic benefit arrangement and 16 percent free carried interest of mining operations.
Further, Tanzania has been striving to reap billions from the sector. In 2022, the industry posted 7.3 percent contribution to the nation’s GDP, but the government remains optimistic it can gain more.
“We anticipate by at least 2025, the mining sector will contribute 10 percent of the nation’s GDP,” Dr Biseko added.
More importantly, the minister stressed the conference’s unique value proposition to local miners. Miners in Tanzania are fast adapting to international standards in the industry.
Platform to learn and engage
According to Dr Biseko, local firms provide at least 65 percent of all services and goods in the mining sector. The conference looks forward to unleashing strategies and unlocking opportunities for more benefits in the value chain.
“We know our local content base faces a lot of setbacks, but we have to start somewhere, and the conference is just another platform for our people to learn, engage and spearhead opportunities for job creation,” he added.
The conference will focus on fostering public partnership, and sustainable mining practices. The delegates will also discuss investment opportunities for exploration. Securing deals, knowledge sharing and capacity building for industry experts, researchers and policymakers will be top agenda, too.