Saudi Gold Refinery announces bid to investment in Tanzania’s mining sector

DODOMA: THE Saudi Gold Refinery firm has tabled interest for a major investment in Tanzania’s mining sector, with the company planning to undertake detailed exploration before moving into large-scale mining in accordance with the country’s laws.

The company’s Vice Chairman, Faisal Alothaim revealed this in a discussion with the Minister for Minerals, Anthony Mavunde in Dodoma noting that Tanzania offers a favourable investment environment and has significant mineral potential, making the country an attractive destination for mining investment.

ALSO READ: Small-scale Miners’ bank set to open new financing avenue for Tanzania’s mining sector

The leaders’ discussions focused on investment opportunities in Tanzania’s mining sector.

Moreover, Mr Alothaim thanked the government for successfully organising the Tanzania-Saudi Arabia Business Forum, saying the event had opened new opportunities for stronger economic cooperation between the two countries, particularly in the mining sector.

Minister Mavunde assured the Saudi investor that the government will continue to create a conducive environment for investors, noting that Tanzania’s diverse mineral resources offered a wide range of investment opportunities.

He said the government is committed to strengthening partnerships with investors while ensuring that investments in the mining sector were undertaken in accordance with the country’s laws and contributed to Tanzania’s economic development.