Browsing: governance

Tanzania's Mining Act | Mining in Tanzania | Gold in Tanzania
  • Tanzania’s Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.
  • Since gaining independence, Tanzania’s approach to mining legislation has evolved significantly.
  • The Mining Act in place today in Tanzania was designed to create a conducive environment for mining investments while safeguarding the nation’s interests and promoting sustainable development.

Tanzania’s mining sector is a significant pillar of the economy, contributing to the country’s GDP, employment, and foreign exchange earnings. The Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.

Over time, evolving challenges and the dynamic global mining environment have necessitated periodic reviews and amendments to this legislation. The latest proposed bill seeks to amend the Mining Act to address current issues, enhance sector governance, and ensure the sustainable development of Tanzania’s mineral resources.

Historical Context and Evolution of Mining Legislation in Tanzania

Pursuing economic empowerment through purely legalistic and regulatory means has fatal shortcomings which defeat the premise of black or native participation in the economy because history has taught that such a strategy creates a very skewed distribution of the wealth that must be sustainably shared.

Black Economic Empowerment and Indigenization pursued solely from this strategy is a sophisticated form of socialism especially where there is little in the way of economic growth. Its process and eventual outcome create a skewed wealth distribution and novel kind of class structure. 

A vibrant economy is the most potent instrument of empowerment, inclusion, and participation of the people of that country. Vibrant economies are not the result of chance but are the result of deliberate pursuit and action.

Read: Three things TMEA brings to Ethiopia in expansion plans

Creating an economy that is enabling and empowers all citizens requires the development of the following