Mineral sales hit 7.78tri/- in six months

GEITA: TANZANIA’S mineral sales reached 7.78tri/- between January and June this year, equivalent to about 66.5 per cent of the 11.7tri/- recorded during the whole of 2025, signalling strong growth in the mining sector before the year ends.

The figures, based on Bank of Tanzania (BoT) statistics, were announced yesterday by Tanzania Trade Development Authority (TanTrade) Deputy Director General, Mr Fredy Liundi during the opening of the Ninth Mining Technology Exhibition at the Dr Samia Suluhu Hassan Grounds in Geita.

Mr Liundi said the six-month performance reflects sustained expansion in the mining sector, with sales already accounting for nearly two-thirds of last year’s annual earnings.

“The increase in mineral sales demonstrates the positive results of the government’s continued efforts to strengthen the mining sector,” Mr Liundi said.

He said annual mineral sales stood at about 7.2tri/- in 2021 when President Dr Samia Suluhu Hassan assumed office, describing the latest performance as evidence of continued growth under ongoing sector reforms.

Mr Liundi attributed the stronger performance to increased participation by licensed small, medium and large-scale miners in the formal market, saying government efforts to improve the business environment have expanded regulated mineral trading and strengthened revenue collection across the sector.

The growth has also been supported by the BoT Domestic Gold Purchase Programme, under which, the central bank has bought 34 tonnes of gold worth 4.7 billion US dollars (about 12.5tri/-) since 2024 from licensed small-, medium- and large-scale miners operating within the formal system.

Senior Financial Analyst in BoT’s Financial Markets Directorate, Ms Glory Maembe, said the programme has increased the country’s foreign exchange reserves by 2.05 billion US dollars (about 5.44tri/-) in less than two years, pushing total reserves to 6.03 billion US dollars (about 16tri/-), enough to cover more than four months of imports.

“The gold has been purchased over the past two years from licensed small-, medium- and large-scale miners operating within the formal business system,” Ms Maembe said.

She said BoT had set a target of purchasing 20 tonnes of gold during the current financial year but purchases had already reached 34 tonnes, reflecting stronger cooperation across the mining sector.

“This programme is progressing rapidly due to close cooperation with various stakeholders in the mining sector, including the Ministry of Minerals and the Mining Commission,” she said.

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The latest sales figures come as the Ministry of Minerals announced plans to expand detailed geophysical survey coverage from the current 16 per cent to 50 per cent of the country’s land area by 2030 to unlock new mineral-rich areas and reduce exploration costs for small-scale miners.

Deputy Minister for Minerals, Dr Steven Kiruswa said the expanded survey will generate more accurate geological data, identify new mineral-bearing areas and lower exploration costs that often force small-scale miners to lose their investment.