PM points routes to elevate mining sector

DAR ES SALAAM: PRIME Minister Kassim Majaliwa has outlined six measures which the country needs to employ to elevate its mining sector, with financing mining projects across the country being among them.

He insisted on the need for financial institutions to avail needed information which can enable mining projects to be financed across the country, while also calling on stakeholders to embrace modern mining technologies, so as to mitigate the impact of climate change for sustainable mining activities.

Mr Majaliwa disclosed this while closing the Tanzania Mining and Investment Forum, which convened in Dar es Salaam for two days. It was organised by the Ministry of Minerals in partnership with DMG Events and Ocean Business Partners.

“Mineral sector demands huge financing and this is why financial institutions should create conducive environment by availing information for securing funds to develop various mining projects across the country,” said Mr Majaliwa.

He appealed to stakeholders to continue showing support to the government in enabling the sector to grow and have a large contribution to the country’s GDP.

The Prime Minister asked mining stakeholders to expose themselves to new technologies as they carry out mining activities, including dealing with impacts of climate change.

According to PM, impacts of climate had negative consequences as it caused unsustainable mining. He directed the Mining Commission to take charge in finding ways of mitigating climate change effects.

Similarly, he urged them to come up with strategies for strengthening inspection, including working on plans to address environmental degradation.

“It’s critical that stakeholders are linked together as they devise strategies for carrying out various mining researches on strategic minerals,” he said.

He said that the Geological Survey of Tanzania (GST) has already prepared a book containing relevant information on minerals and where they can be accessed, calling upon stakeholders to effectively make use of the book.

The PM encouraged mining stakeholders to continue taking part in similar exhibitions  and  the forum held in the regions and districts so as to publicise   different  technologies applicable in the mining sector.

He assured the gathering on the government’s unwavering commitment to work on all recommendations and resolutions reached during the forum.

The Premier was thrilled to note that resolutions generated from the previous forum had effectively been implemented, including the challenge that artisanal miners were facing in securing loans.

Thus, he applauded stakeholders championing for artisanal miners to have their special bank that will address the challenge facing them in accessing funding.

The Premier equally extended recognition to other financial institutions for their readiness to dish out capital to small, medium and large-scale miners.

In line to this, Mr Majaliwa called upon financial institutions to revisit their interest rates so as to help a large number of artisanal miners to access loans for starting mining projects and in turn pay without husstle.

He assured all stakeholders that whoever plans to invest in the country’s mining sector should be assured of a good profit due to the conducive environment being created by government.

“The government has continued to address obstacles hampering the growth of the sector by instituting a number of measures such scrapping all nuisance taxes to enable investors operate without inconveniences,” he said.

For his part, Minister for Minerals Mr Athony Mavunde disclosed that due to efforts being made by the government to improve the mining sector in the country, Rukwa recorded new history by starting to mine helium.

“This is a very huge step in the history of the country…helium is used in the manufacturing of mobile phones, computers and MRI machines and today it is being mined in Tanzania,” he stated.

Mr Mavunde was optimistic that the advancements that Tanzania is recording in the sector will act as a catalyst for boosting the economy of the country.

The Director of Ocean Business Partners, Mr Abdulsamad Abdulrahim noted that Tanzania was making its breakthrough in the mining sector, saying that can be witnessed through the world class forum which has been organised in the country.

“Over 1,600 participants from 75 countries across the globe met all under one roof to discuss the fate of the mining sector in Tanzania, this is indeed splendid…we want to bring the Indaba in Tanzania,” noted Mr Abdulrahim while demonstrating great enthusiasm.

Related Articles

Back to top button