STAMICO sets sights on strategic mineral investments

DODOMA: THE State Mining Corporation (STAMICO) has announced its strategic shift towards large-scale investments in critical and strategic minerals, as part of efforts to position itself as a major player in Tanzania’s mineral sector.

The move comes after the corporation achieved a major milestone becoming 100 per cent financially independent from the government and contributing 9bn/- in dividends to the state.

The announcement follows the recent approval of the Ministry of Minerals’ 2025/2026 budget by the august House, which prioritizes strengthening the ministry’s institutions and expanding the value chain of critical and strategic minerals.

During a recent high-level meeting chaired by Minister of Minerals Anthony Mavunde, STAMICO presented its ambitious plans to scale up investments in large-scale mineral exploration and mining.

The meeting brought together the ministry’s management and affiliated institutions to discuss a roadmap for empowering STAMICO to implement major mining projects.

STAMICO, once listed among the public entities earmarked for dissolution, has undergone a remarkable turnaround under the leadership of President Samia Suluhu Hassan, driven by her “4Rs” reform philosophy.

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The corporation is now being recognized as a model public enterprise, actively expanding into large- and medium-scale mining of critical minerals, strategic resources, and gold, in line with global trends of maximizing domestic mineral benefits.

Speaking during the session, Mr Mavunde said that the projects STAMICO is preparing to implement will elevate the corporation to global relevance.

He emphasized the government’s vision of transforming STAMICO into a mining giant comparable to international companies like Barrick Gold and AngloGold Ashanti.

“I commend STAMICO for the tremendous progress achieved so far,” said Mavunde, adding: “Once these projects are in motion, the nation will reap significant benefits and when we take the lead in managing our own resources, the impact is much greater.”

The minister added that STAMICO is vital to ensuring Tanzanians benefit from the country’s mineral wealth and announced the corporation’s new rallying call: ‘MASTASHA’ meaning Make STAMICO Shine Again, aimed at restoring the institution’s original vision, energy, and purpose.

STAMICO’s Managing Director, Dr Venance Mwasse, elaborated on the corporation’s strategic plans, noting that the upcoming projects will generate direct employment, boost government revenue, attract foreign investment, and spur technological advancement.

He said some of the projects will be implemented solely by STAMICO, while others will be executed through partnerships.

Dr Mwasse also confirmed that the corporation already holds several mining licenses, including those for gold and graphite.

Established in 1972, STAMICO’s original mandate was to invest on behalf of the government across the entire mineral value chain.

The current strategy signals a renewed commitment to that founding mission, with a forward-looking focus on strategic impact and national economic growth.