Deputy Prime Minister invites investors to Tanzania

DAR ES SALAAM: Deputy Prime Minister, Dr Doto Biteko has urged both local and foreign investors to invest in Tanzania’s mining sector, citing a favourable business environment that guarantees mutual benefit.

The statement was made during the two-day 2023 Tanzania Mining and Investment Forum (TMIF) held in Dar es Salaam and sponsored by AngloGold Ashanti’s Tanzania mining operation, Geita Gold Mine Limited (GGML).

He said that the presence of over 2000 stakeholders from within and outside the country demonstrated the government’s commitment to improving and developing the mining sector for the benefit of all stakeholders.

Furthermore, he added that the government has upgraded the conference status to conform to the international standard, as desired by everyone.

Dr Biteko went on to explain that geological information gathering has improved significantly and is now done digitally. The government aims to conduct modern research, named “High Resolution Airborne Geophysical Survey,” in all mining areas by 2030.

The geographic data availability in many parts of the country will accelerate deep mineral exploration investment, which is crucial to the establishment of mines.

“I implore all of you to actively engage in the extraction of minerals while keeping in mind the welfare of our nation and its people. Despite the ongoing challenges in obtaining geological data in several regions, the Government has committed to funding high level research in order to identify mineral deposits and attract investors”.

The Minister for Minerals, Anthony Mavunde, explained that the discovery of reserves will lead to the opening of more mining sites in the country, increasing government revenue and employment for Tanzanians.

He continued: “There will be minimal red tape when it comes to investment, our job is to create a friendly environment so that all parties can benefit.

At the event, Simon Shayo, AngloGold Ashanti’s Vice President – Sustainability and Corporate Affairs in Africa said that the government has done a lot to improve the mining industry, allowing it to focus on the community and fund local projects.

He added: “We can highlight the Corporate Social Responsibility programme of the company which has enabled over 70% of the people living around the mine, and in the Geita region to have access to water. Furthermore, GGML was the forerunner in investing in cutting-edge mining technologies in the country, and we always prioritise the health and safety of our workers in the workplace.”

He explained that the company, which was established here in Tanzania in 2000, has improved its technologies, enabling it to win several health and safety awards four times in a row.

Mr Shayo provided a case study demonstrating that in alignment with Tanzania’s and the world’s efforts to reduce carbon emissions, the company constructed a carbon filter plant in response to mining operations.

Among other things, it was noted that the organisation has allocated over 75% of its expenditure to purchasing goods from indigenous suppliers within the region and to meeting compliance obligations in accordance with the revised Mining Act.

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