Extensive research looms to uncover country’s mineral resources

DAR ES SALAAM: The government is set to conduct extensive research and surveys nationwide to uncover the full extent of the country’s mineral resources.

Minister for Minerals, Anthony Mavunde made the statement on Tuesday noting that, so far, only 16 percent of the country has been thoroughly surveyed, adding that despite the limited coverage, the sector has already made a significant impact on Tanzania’s Gross Domestic Product (GDP). “Our goal is to increase this to 50 percent by 2030,” Mavunde said.

“We’ve seen impressive results from researching just a small part of the country. Imagine the potential if we do more. This strategy aims to ensure the sector’s continued growth and greater benefits for Tanzania.”

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Highlighting the sector’s impact, the minister noted that in the 2022/23 financial year, mineral exports reached a value of 3.5 billion US dollars, accounting for 56 percent of the country’s foreign exchange earnings.

Additionally, he said that the sector contributed 15 percent of all domestic tax revenues—equivalent to 2.1tr/- and over 648bn/- to the government’s general fund as non-tax revenue in the same period.