Tanzania invites Korean investors to boost the mining sector

DODOMA: THE Tanzanian government has welcomed South Korean companies to invest in the country’s mining sector, opening the door to partnerships in mineral exploration, value addition, and modern extraction and processing technologies, particularly for strategic and critical minerals.

The announcement was made in Dodoma by the Deputy Secretary General of the Ministry of Minerals, Msafiri Mbibo, during a meeting with a South Korean delegation, including the Korea Trade-Investment Promotion Agency (KOTRA) and HD Construction Equipment, a company specializing in mining machinery and industrial technology.

Mbibo said Tanzania’s policy reforms and legal improvements in the mining sector aim to attract investors with modern technology, expertise, and a long-term vision.

He emphasized the need for domestic mineral processing, industrial development, and technology transfer to local professionals.

“Tanzania is ready for strategic partnerships that create jobs, increase domestic revenue, and strengthen our international competitiveness. We welcome investors who bring modern solutions across the entire mineral value chain, from exploration to value addition, especially in strategic minerals,” Mbibo said.

Deputy Director and Trade Commissioner of KOTRA in Dar es Salaam, Kim Sangwoo, said South Korea intends to increase investment in East Africa through responsible and productive projects. He added that Tanzania is among the countries with afavourable investment environment.

Soohong Min, Managing Director of HD Construction Equipment, highlighted the experience of South Korean companies in mining technologies, heavy machinery, and efficient production systems. He said these capabilities could accelerate Tanzania’s agenda to add value to its minerals.

The discussions focused on mineral exploration using modern technologies, processing and value addition, industrial and production infrastructure, and transfer of skills and technology to local professionals.

Both parties expressed a strong commitment to strengthening trade and technology cooperation, with Tanzania keeping its doors open to investors aligned with the country’s inclusive and sustainable development goals.

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KOTRA, established in 1962, is a South Korean government agency that promotes international trade and foreign investment.

It connects global companies with Korean partners and provides market intelligence and support through its offices worldwide, including in Dar es Salaam.