Dar seeks to woo more investors during upcoming mining investment forum

The Minister of Minerals Dr. Doto Biteko has wooed Investors globally looking for opportunities in the green energy and transition minerals sector should take notice of Tanzania.

Speaking on the sidelines of the Tanzania Mining & Investment Forum scheduled to take place in Dar Es Salaam from 25 – 26 October, 2023, Dr. Biteko said the country’s favourable investment climate, coupled with its abundance of natural resources, makes it an attractive destination for investment.

“We look forward to making groundbreaking announcements, hosting bilateral and investor meetings, showcasing project development opportunities, and working with our national and global partners to unlock the full potential of Tanzania’s mining sector,” he said.

Biteko said Tanzania is emerging as a hub for green energy and transition minerals development and production adding that with its abundance of natural resources, favourable government policies, and increasing demand for sustainable energy, Tanzania is attracting attention from investors around the world.

“Tanzania is rich in critical mineral deposits, which are essential components in the manufacturing of electric vehicles, renewable energy infrastructure, and other clean technologies. The country is home to significant deposits of lithium, cobalt, nickel, and rare earth elements,” he said.

He added, “These minerals are in high demand as the world transitions to a low-carbon economy, a recent example of this being the agreements signed between the Tanzanian government, and three Australian companies (Evolution Energy Minerals, EcoGraf Ltd, and Peak Rare Earths), to mine rare earth minerals and graphite. The deal, worth $667 million, is also part of the president’s drive to fast-track negotiations on long-pending mining and energy projects,”

He noted that the Tanzanian government has also established a framework to promote responsible and sustainable mining practices that includes the implementation of environmental and social safeguards, as well as the establishment of a regulatory framework to ensure compliance with international best practices.

“ In addition, the government has made it a top priority to add value in-country, and invest in mineral processing and refineries, which will create jobs in-country and create local content opportunities for Tanzanian nationals and businesses,” he added.