Mining in Tanzania

Tanzania is the third largest gold producer in Africa after Ghana and South Africa, and is one of the fastest growing gold producing nations in the world. The mining sector is the one of the fastest growing sectors in Tanzania’s rejuvenated economy growing at a rate of approximately 10%. Mining sectors contribute about 2.3% of the GDP, which is projected to account for 10% in 2025.

Foreign investment in the mining sector of $1.3 billion in recent years has enabled Tanzania to become a significant producer of gold and established the metal as the country’s leading export. Production and export of gold from Tanzania at present is estimated to be 50 tonnes, valued at $700 million per year, compared with 3 tonnes per year in 1995. Total mineral exports in 2003 reached US$543 million compared to just US$16.1 million in 1997 and gold exports have increased from US$3.33 million in 1998 to US$509.8 million in 2003. This growth has occurred from 1994 when no mechanized gold mining operations existed in the country.