Review of mineral policy has benefited Tanzania, says minister

Business Reporter

Mwananchi Communications Ltd

What you need to know:

Noting that the mineral sector is currently growing at a rate of 16.7 percent and earnings from gold have grown from $1.6 billion in 2015 to $3 billion in 2020.

Dar es Salaam. The government said today October 15, 2021, that the Tanzania has passed through major reforms in the mineral sector including the review of its policies and laws before it started to glean its benefits.
Deputy Minister of Minerals, Prof Shukuru Manya said this during the 60 years mineral and energy week symposium organized by Mwananchi Communications Limited under the theme- Growth Challenge and the Future of Energy and Minerals.
"The country collected Sh584 billion revenues from minerals in 2021, while its contribution to the GDP increased from 4.8 percent in 2017 to 6.7 percent in 2020," he said.
Noting that the mineral sector is currently growing at a rate of 16.7 percent and earnings from gold have grown from $1.6 billion in 2015 to $3 billion in 2020.
He said the country is currently looking to develop small mines with improved technology at a time when Tanzania has started to produce graphite which is used in making of batteries.
He explained that the 2009 mineral policy aim was put in place to attract investment and align the mineral sector with other economic sectors but it failed to do so.
He noted that it made the country fail to benefit from both the mineral policy of 2009 and act of 2010 which led to its review in 2017.
Following the review he said the President became the owner of the country's minerals on behalf of Tanzanians which led to the establishment of the mineral commission, 43 mineral markets, 59 centres and ban of transporting unrefined minerals
"The country now has three refineries with huge capacities and smelter.”