The International Mining Investment Conference in Tanzania will officially open on November 19, 2024, with the President of the United Republic of Tanzania, Dr. Samia Suluhu Hassan, presiding over the event.
The conference will be attended by various stakeholders from both within and outside the country, including Ministers of Mining from other African nations, major investors, mining sector experts, ambassadors, and researchers.
The closing ceremony will take place on November 21, 2024, led by the President of the Revolutionary Government of Zanzibar, Dr. Hussein Ali Mwinyi.
The main aim of the conference is to strengthen the investment climate in Tanzania’s mining sector, attracting both local and international investors, and providing a platform to discuss the future of the mining industry.
It will also offer participants an opportunity to learn about the government's new policies and strategies, discuss legal and economic issues related to mining, and witness new technologies that can bring greater value in mineral exploration and beneficiation.
According to Minister of Minerals, Hon. Antony Mavunde, speaking on November 14, 2024, in Dar es Salaam, the mining sector in Tanzania has continued to grow and play a significant role in the country's economy.
"In the 2022/23 financial year, the sector contributed over 56% of the country's foreign exchange earnings from mineral exports, and 15% of domestic tax revenues, amounting to 2.1 trillion Tanzanian shillings. Our goal is for the mining sector to contribute 10% of the national GDP by 2025," said Mavunde.
The government has also introduced initiatives to support small-scale miners, including providing 10 additional drilling machines through the State Mining Corporation (STAMICO). Small-scale miners will now pay 10 million shillings for drilling services instead of the previous 25 million shillings.
Additionally, the government has strengthened the regulation of the mineral trade by establishing 43 mineral markets and 105 buying points, which has helped to collect minerals worth 4.7 trillion shillings through various taxes.
A major project to establish a metal smelting plant at the Buzwagi mine in Kahama-Shinyanga is set to cost 500 million USD. This plant will have the capacity to produce finished metal products, marking an important step in adding value to minerals before they are exported.
The mining sector continues to make a significant contribution to the country's economy through both large and small-scale miners. Small-scale mining now accounts for 40% of the government’s revenue, and the sector is a model for many countries in Southern Africa (SADC).
The global diamond market has been affected by the rise of laboratory-grown diamonds. Two months ago, Minister Mavunde visited the Mwadui Diamond Mine to assess the state of the diamond market. However, Tanzanian miners are continuing their operations despite these challenges.
This year’s conference theme is “Value Addition to Minerals for Economic and Social Development,” which aims to emphasize the importance of adding value to locally produced minerals before exporting them. This will help stimulate the establishment of industries that will benefit the country, neighboring regions, and the world as a whole.
The conference will also feature a Mining Gala, recognizing the outstanding contributions of stakeholders in the mining sector. In addition, there will be an exhibition showcasing gemstones, industrial minerals, and construction materials, highlighting the opportunities in the mining sector and the use of minerals in daily economic and social life.
This year’s conference will feature 57 speakers, with 20 from international countries and 37 local experts from the mining sector. The conference is expected to provide an important platform for Tanzania to strengthen its position as an investment hub in the mining industry.
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