| Mining
is a sector which is accorded high priority due to its potential
contribution to the national economy. This sector has great
potential if given resources, including capital. This sector has
recorded an increasing growth by raising its contribution to the
GDP to 1.7 per cent in 1997 compared to 0.8 per cent in 1991. The
value of mineral exports increased from US $ 45 million in 1991 to
$ 92.881 million in 1997.
The
leading minerals includes Diamond, Gold, Gemstones (such as
Emerald, Ruby, Tanzanites etc...) Salt and Phosphates.
The
objective is to strengthen and promote the mining sector so that
it can contribute 10 per cent or more of the GDP. The conducive
environment for investment already in place has attracted over 50
foreign companies which have applied for prospecting and mining
licences. Gold has attracted many investors, for example, in one
of the surveys done by Resolute Samatha and Samax Company have
discovered gold reserves of 25.7 million tons, and the
construction of the mine has already begun. Also further
prospecting done by several companies in Tanzania have
cumulatively found gold reserves amounting to 130.2 million tons.
Many other companies have shown interests in prospecting for tin,
nickel and copper. In general, Tanzania has vast potential mineral
reserves of both metallic and non-metallic. Apart from gold and
diamond several other proven reserves have been established; iron
ore (85 million tonnes), coal (324 million tonnes), magnetite (4.5
million tonnes), nickel (40.4 million tonnes) and soda ash (1.0
million tonnes). With the involvement of more companies in mineral
exploration, it is anticipated that more proven reserve totals
will be determined including those of uranium. |
