The mining industry in Tanzania has produced almost 2.7 trillion in revenue during the last four years, greatly increasing the country’s wealth. According to a performance report issued yesterday by the Mining Commission in Dodoma, this achievement amounts to 82% of the sector’s 3.35 trillion target. Engineer Ramadhani Lwamo, the Executive Secretary of the Commission, credited the performance to improved administration of mining activities nationwide since President Samia Suluhu Hassan assumed charge. According to Eng Lwamo, the sector’s share of the national income grew from 7.2% in 2021 to 9.0% in 2023, and its growth rate jumped from 9.4% in 2021 to 11.3% in 2023. As a Result of the Sector’s Steady Expansion, the National Development Vision 2025 Projects That It Will Grow by 10% by 2025.
The mining industry’s revenue has steadily increased. When President Samia Took Office, the Company’s Earnings Were 624.6 Billion for the Fiscal Year 2021-2022. In 2022-2023 and 2023-2024, this grew to 677.7 billion and 753.8 billion, respectively. The Ministry of Minerals Wants to Collect One Trillion Dollars in Revenue by the End of 2024/2025, and With Almost Four Months Left in the Current Fiscal Year, Earnings Have Reached 690.76 Billion. He said that During the Four Years, the Commission Granted 41,424 Licenses to Small-, Medium-, and Large-scale Miners and Other Processors, Representing a 111% Growth. Furthermore, by Granting Licenses to Major Mining Corporations, the Commission Has Persisted in Enhancing the Investment Climate in the Mining Industry. Large-scale mining operations under licences granted between 2021 and January 2025 are anticipated to have a multiplier effect on the nation’s mining industry and other sectors,” he stressed.
Faru Graphite Corporation Limited, Mamba Minerals Corporation Limited, Tembo Nickel Corporation Limited, Sotta Mining Corporation Limited, and Nyati Mineral Sands Ltd. Are Among the Firms He Identified That Have Been Granted Large-scale Mining Licenses. The Commission has kept up its monitoring and inspections of small, medium, and large-scale mining activities nationwide with an emphasis on environmental compliance, safety, and health in order to sustain the sector’s upward growth trend. According to Eng Lwamo, 187 medium-sized mines and seven large-scale mining sites spread over six regions—mara, Shinyanga, Mwanza, Kagera, Geita, and Mtwara—were inspected. During the inspections, the commission found flaws, and the responsible parties were instructed to close the gaps in the Mining Act compliance, he stated. The Executive Secretary stated that the Commission will keep stepping up its efforts to stop mineral smuggling by urging participants to conduct business at approved mineral markets and centres around the nation in order to secure the sector’s long-term viability.
