The mineral sector in Tanzania includes both small–scale operations and large-scale mechanised mining dominated by nine major mines: six for gold and one each for diamonds, coal and Tanzanite. Gold accounts for 90 per cent of the value of Tanzania’s mineral exports.
In the past few years, there has been a big increase in exploration for gas and oil along the coast. Estimates for gas reserves look promising for commercial production. So far, no crude oil discovery has been made though indicators from drillings and seismic data show that there might be potential reserves.
The second EITI report covering 2009/10 was launched on 31 May 2012. It showed that the government in Tanzania received more than US$300 million from the mining sector, up almost three times from the reported revenues for the previous year. Tanzania was declared compliant on 12 December 2012.
The first Tanzania validation report was received on 14 May 2011.