Tanzania’s mining sector is booming, and Minexpo, the premier international trade exhibition on mining is promoting the East African market to the world. The 4th Minexpo is next scheduled to make a strong impact in the Tanzanian mining industry. The event is known to be the largest of its kind attracting top industry professionals, importers, distributors, retailers, manufacturers, exporters, consultants, engineers, miners, contractors including government agencies and trading companies. The event is focused on introducing a new level of technology to help boost efficiency and productivity of companies engaged in the mining sector. Expected to exceed exhibitor and visitor footfall this year the show will be held from the 01st to 03rd November, 2018 in Dar es Salaam, Tanzania.
As a proven platform for business to business promotions, the exposition showcases latest developments in the mining and machinery industry. Stakeholders from various organizations, decision makers from the end user industries as well as industry observers and experts are provided a platform to interact with each other, making the event an excellent stage for networking and relationship building. Participants in the event come to explore the immense potential of the East African market while the visitors are exposed to explore various new business options. Companies from over 14 different countries are scheduled to participate in the Tanzanian edition including major players from the East African region. Countries dominant this year are Germany, China, India and Italy with several leading international brands looking to build a solid foundation in the East African market.
Tanzania is endowed with vast quantities and types of resources whose extraction has been central to the country’s economic growth. Mining is one of the leading sectors in Tanzania, with the value of mineral exports increasing each year. Tanzania, Kenya, Ethiopia and Rwanda are among the African countries that are the emerging leaders in the African continent. Based on government estimates and forecasting, the mining sector is expected to contribute upto 10% of the GDP if not more by 2025. Estimated to be valued at USD 1.37bn of the total figure of Tanzanian exports in 2015 approximately 24% with gold accounts in the upwards of 90% of the country’s minerals export. The total value of Tanzania’s diamonds exports was USD 61.7m, while other minerals export accounted for USD 61.7m. South Africa, India, Switzerland and Australia are the traditional buyers of Tanzanian gold while diamonds are exported almost entirely to Luxembourg.
Tanzanian gold reserves are estimated at about 45m ounces and multiple credible explorations have been concentrated mostly on the greenstone belts around Lake Victoria, where several large deposits have already been discovered and are being consequentially being developed. Gold production in Tanzania stands at around 50t per year which makes the country the 4th largest gold producer in Africa after South Africa, Ghana, and Mali. In stark contrast and indicating a bright future, Tanzania’s gold production increased by more than 700% over the past 25 years, from 5t to 50t per year, South Africa’s production of gold decreased from over 500t in 1990 to 140t in 2015.
Tanzanian iron ore reserves are located mainly in Liganga, Uluguru Mountains, Mbabala near Lake Tanganyika, Karema, Manyoro Gondite and Itewe. The Liganga mine is known to hold the biggest iron resources in Tanzania with proven reserves of 126mt.
“We are extremely excited that our business community and relevant stakeholders are now taking full advantage of the Minexpo platform created for their growth and explore opportunities through active participation. As the mediators of the economic development in East Africa, are positive about the opportunities of this region.”
– Trevor Daniels, Media Manager for Minexpo Africa
Minexpo has been projected as the ideal forum for international companies to showcase their products and services to a market that is emerging as one of the frontrunners in the African. Major company leaders from East Africa, and surrounding regions are invited directly in collaboration with regional trade bodies in Kenya, Tanzania, Ethiopia, Uganda, Somalia, Mozambique and Congo.
Tanzania has embarked on its second Five-Year Development Plan, 2016/17 to 2020/21 (FYDP II), which picks up on interventions which fell short under MKUKUTA II and FYDP I. The focus for the government for the future of Tanzania is now to urgently implement measures to enable and encourage the private sector to play a more significant role in Tanzania’s development. The country’s real GDP growth rate, was the highest in the East African Community (EAC) for 2017 and 2018 which makes the the country poised to become the next big gateway into Africa.
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