Browsing: Government of Australia’s Department of Foreign Affairs and Trade (DFAT)

The Ngwala investment in rare earths is projected to give rise to almost 600 direct and 3,000 indirect jobs during the construction phase, and another roughly 200 direct and 1,000 indirect jobs once it starts operations.
  • At least three Australian firms have signed a handful of agreements including Evolution Energy Mineral Limited, EcoGraf Limited, and Peak Rare Earth Limited.
  • This is the second mineral exploration and processing deal that Tanzania has signed in as many months and the government says there are more in the pipeline.
  • Global markets are experiencing a rising demand for rare earth minerals, critical elements that are used in the manufacture of a vast array of electronic devices, and electric vehicles.

Australia, a vast country that hugely powers its economy through a vibrant mining industry, is bringing its expertise to Tanzania, East Africa for the exploration and processing of energy-rich graphite and other rare earth deposits.

At least three joint venture companies have been formed each having Tanzania accrue 16 percent of the shares, a rare deal in an industry that has for years left the East African country earning little because …