Tanzania finalises the construction of Tanzanite Exchange Centre

DODOMA: TANZANIA has outlined ambitious plans to strengthen its mining sector, aiming to become the main mineral trading hub in East and Central Africa by 2030, while boosting the sector’s contribution to national development.

Speaking during the opening of the 13th Parliament, President Samia Suluhu Hassan said the government is finalizing the construction of the Tanzanite Exchange Centre (TEC) in Mirerani, a move expected to streamline tanzanite trade and enhance the value of minerals locally.

“In addition to being a major mineral producer, Tanzania plans to increase local value addition, establish a multipurpose mineral refinery by 2030, and stop exporting raw mineral concentrates. This will create jobs and strengthen the country’s economy,” President Samia said.

She also announced the launch of the Minerals Sovereign Wealth Fund, designed to ensure that revenues from mineral resources benefit future generations. The President emphasized that minerals, unlike crops, cannot be replanted; once extracted, they are gone, making it critical to manage them sustainably for long-term benefit.

“These initiatives reflect the government’s commitment to turning minerals into lasting economic gains, generating employment, attracting investment, and securing prosperity for future generations,” she said.

ALSO READ: Tanzania to accelerate railway investments to boost regional trade

The government’s strategy aims to increase local processing, encourage investment, and ensure that the mining sector directly contributes to national development and citizen welfare, positioning Tanzania as a key player in the regional minerals market