The mineral sector in Tanzania includes both small–scale operations and large-scale mechanised mining dominated by nine major mines: seven for gold and one each for diamonds and tanzanite. Gold accounts for 94% of the value of Tanzania’s mineral exports (2012). The Tanzanian soil also contains iron ore, base metals, uranium and gemstones.
The Mineral Policy of 2009 aims to strengthen links between the mineral sector and other sectors of the economy, improve the investment climate and maximise benefits from mining. To implement the Mineral Policy, a new Mining Act was enacted in 2010, repealing the previous law dating from 1998.
The past few years have seen a big increase in exploration for gas and oil along the coast. Estimates for gas reserves look promising for commercial production and export. So far, no crude oil discovery has been made though indicators from drillings and seismic data show that there might be potential reserves.
Extractives revenue represented approximately ten per cent of total government revenue in 2011/12.
- an overview of the extractive industries, their macroeconomic significance and future prospects;
- the first layer of company shareholders;
- a description of the fiscal regime and licensing;
- an introduction to exploratory activities and estimated reserves;
- local taxes and social contributions.