Korea ready to invest in Tanzania’s mineral sector

Korea has shown their readiness to investing in Tanzania’s mining sector.

The Principal Researcher at the Mineral Resource Division of Korea Institute of Geoscience and Mineral Resources Dr Ho-Seok Jeon called Korean companies to invest in Tanzania’s mining sector adding that his institute is willing to cooperate with the Tanzania’s Ministry of Mineral.

This was revealed on Thursday when the researcher paid a courtesy call on Tanzania Ambassador to South Korea, Togolani Mavura.

A delegation from Korea Institute of Geoscience and Minerals visited Tanzania in February this year to navigate the Tanzania sector and more specifically on strategic minerals in the fourth industrial revolution (4IR).

According to the institute’s website, the academic institution responds to rising national issues such as securing rare metals that are widely used in electric vehicle batteries and are a critical part of the ‘2050 Carbon Neutrality’ agenda, contributing to sustainable national economic growth for the future.

“KIGAM develops rare metal exploration technology incorporating artificial intelligence (AI), and is a leader in large-capacity carbon capture, utilization and storage (CCUS), marine sedimentation basin storage, and utilization technology to respond to current global issues such as climate change,” the website noted.