Tanzania’s mining sector to contribute 10% the country’s GDP in 5 years

0
184

Tanzania’s mining sector has been projected to contribute 10% to the country’s GDP by 2025. The Prime Minister Kassim Majaliwa said that the mining sector’s current contribution to GDP is estimated at 3.5%.

Majaliwa, who also inaugurated a certificate of origin for tin that is mined in Tanzania, made the remarks at a mining investment conference in Dar es Salaam. He reiterated that minerals will be able to contribute 10% of the GDP following reforms in the mining sector. This comes shortly after the Tanzania acquired the certificate of origin for tin and its base metals of tantalum and wolframite. The certificate allowed the country to export the metals currently mined in Kyerwa and Ngara districts in Kagera region.

The acquisition of the certificate of origin came after the country met all export requirements to become the fourth eligible nation in the Great Lakes Region after Rwanda, Burundi and the Democratic Republic of Congo (DRC).

Previously, the country produced tin and its base metals, but was not allowed to export them due to lack of certificates of origin, the necessary requirement for exports. Majaliwa said according to Tanzania’s report on the state of the economy for 2019, minerals contribution to the economy grew by 13.7%.

He further added that the government has established minerals trading centers across the country to control smuggling of the precious gems out of the country.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!