Local mineral market revenues surge to 183bn/-

DODOMA: THE contribution of the es- tablished local mineral markets to the government cofgers has surged to 183bn/- in the just ended 2023/2024 financial year.

This is a remarkable increase from the contribution that amounted to 8bn/- recorded in 2018/2019, according to the available data.

Speaking during a train- ing session on the use of X-ray Fluorescence (XRF) machines for mineral testing in Dodoma, Mining Commission’s Director for Mineral Audit and Trade, Mr Venance Kasiki, attributed the growth to improved regulations and for- malisation of the mineral trade.

He noted that Tanzania now has 43 mineral markets and 109 buying centres,which have played a crucial role in boosting revenue collections.

“Since a significant portion of our revenue from these markets comes from gold, we must ensure that XRF machines are used to determine the minerals’ purity accurately.

The results obtained from these machines are crucial in calculating royalties and inspection fees,” he explained.

On his part, Manager for Mineral Trade, Mr Sundi Malomo, underscored the vital role mineral markets play in increasing government revenue and creating employment.

He noted that since their establishment by the Mining Commission in May 2019, the markets have significantly strengthened the mineral trade and enhanced transparency.

“To improve revenue collection, as you are aware, the mining sector is expected to contribute 10 per cent to the Gross Domestic Product (GDP) in the 2024/2025 financial year,” he said.

He added that the Mining Commission has been tasked with collecting 1tri/- in revenue, stressing that the training was aimed at reminding market officers on their responsibilities in ensuring efficiency in mineral trade operations. He further highlighted the steady growth in mineral market contributions over the years.

“In 2018/2019, these markets contributed 8bn/-. Over time, their contribution has grown substantially, reaching approximately 183bn/- in the 2023/2024 financial year,” he stated.

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Meanwhile, Mr Kasiki reiterated the government’s commitment to ensuring the effective use of XRF machines, noting that training sessions have been extended to all mineral markets across mainland Tanzania.

To enhance technical expertise, the commission invited an expert from Thermo Fisher Scientific, the South African manufacturer of the XRF machines, Mr Mirko Steinhage, to provide further insights on their proper usage of the newly acquired technology.

Acting Manager for Mineral Auditing and Laboratory Services, Engineer Mvunilwa Mwarabu, described the training as a crucial step in enhancing revenue collection.

He stressed that XRF machines and weighing scales are essential tools in ensuring accurate assessments of mineral quantities, thereby maximising government revenue.

“With the knowledge acquired from this training, we expect improved efficiency in the use of these machines, leading to increased revenue collection and enhanced compliance in the mineral trade,” he explained.