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| Minister for Minerals, Anthony Mavunde |
By Lake Zone Watch writer
The mining sector has generated 902bn/- as of May this year as its contribution to the national economy in the financial year 2024/2025, it has been reported.
The above figure is equivalent to 90.2 per cent of the target of collecting 1trn/- before the financial year ends on June 30, Minister for Minerals Anthony Mavuinde told the media in Dodoma this week.
"The huge collection of revenue underscores achievements mining sector gained during President Samia Suluhu Hassan four-year regime since she assumed power in March 2021", the minister said.
According to Mavunde, the country’s mining policy and the five-year development plan set the goal of 10 per mining sector contribution to the national economy by 2025, a target which has already been surpassed.
“We’ve successfully achieved the goal. In 2021, mining contributed 7.3 per cent of the Gross Domestic Product; by 2023, it reached 9.1 per cent. Now we’re proud to say that we’re at 10.1 per cent,” the minister said.
The mining industry, added the minister, has continued to be a major axis of foreign currency earnings in which in 2023 exports reached US dollars 3.55 billion or 46.1 of total exports.
He said local companies benefited largely through goods and services worth US dollars 3.5 billion.
So far, the mining industry has generated 19,853 jobs of which 18,853 are for Tanzanians.
The government has also taken bold measures to increase marketing centres to 152 across the country which go together with the implementation of the 2030 Vision of strengthening the management of mining resources, access to geological scientific information and integration of the sector with others such as agriculture, construction, finance and industry, just to mention few.
Government is also working to empower small-scale miners – especially women and youth -- under its Mining for a Bright future Tomorrow programme by providing drilling sites and equipment.
The mining sector has generated 902bn/- as of May this year as its contribution to the national economy in the financial year 2024/2025, it has been reported.
The above figure is equivalent to 90.2 per cent of the target of collecting 1trn/- before the financial year ends on June 30, Minister for Minerals Anthony Mavuinde told the media in Dodoma this week.
"The huge collection of revenue underscores achievements mining sector gained during President Samia Suluhu Hassan four-year regime since she assumed power in March 2021", the minister said.
According to Mavunde, the country’s mining policy and the five-year development plan set the goal of 10 per mining sector contribution to the national economy by 2025, a target which has already been surpassed.
“We’ve successfully achieved the goal. In 2021, mining contributed 7.3 per cent of the Gross Domestic Product; by 2023, it reached 9.1 per cent. Now we’re proud to say that we’re at 10.1 per cent,” the minister said.
The mining industry, added the minister, has continued to be a major axis of foreign currency earnings in which in 2023 exports reached US dollars 3.55 billion or 46.1 of total exports.
He said local companies benefited largely through goods and services worth US dollars 3.5 billion.
So far, the mining industry has generated 19,853 jobs of which 18,853 are for Tanzanians.
The government has also taken bold measures to increase marketing centres to 152 across the country which go together with the implementation of the 2030 Vision of strengthening the management of mining resources, access to geological scientific information and integration of the sector with others such as agriculture, construction, finance and industry, just to mention few.
Government is also working to empower small-scale miners – especially women and youth -- under its Mining for a Bright future Tomorrow programme by providing drilling sites and equipment.
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