Africa-Press – Tanzania. THE Tanzanian mining sector has attained a historic achievement by contributing 10.1 percent to the national Gross Domestic Product (GDP) in 2024, one year ahead of the target outlined in the 2009 Mineral Policy and the National Five-Year Development Plan (2021/22 – 2025/26).
Minister for Minerals, Mr Anthony Mavunde, disclosed the development on Wednesday in Dodoma during a press conference, noting that the achievement marks a major milestone in the sector’s contribution to the country’s economic growth.
He attributed the sector’s performance to the strategic leadership and directives of the government under President Samia Suluhu Hassan whose sixth-phase government spearheaded comprehensive reforms aimed at transforming the extractive industry.
“It is a proud moment to witness the efforts of the government and stakeholders yielding tangible results. In 2023, the mining sector contributed 9.1 per cent to GDP. Today, we are speaking of an increase to 10.1 per cent in 2024. This is a significant accomplishment,” said Mr Mavunde.
The minister explained that progress is a direct outcome of systematic policy, legal, and institutional changes implemented in recent years.
These include enhanced revenue collection mechanisms, the introduction of gemstone auctions, tighter control of mineral smuggling, and the establishment of mineral markets and buying centres across the country.
He further cited the commencement of gold purchases by the Bank of Tanzania (BoT) as another key driver of growth within the sector.
Mr Mavunde commended all players across the mining value chain—including large, medium – and small-scale miners, regulatory authorities, and sector institutions—for their commitment and effective collaboration in advancing the Government’s vision for the industry.
He urged all investors to continue adhering to the laws and regulations under the Mining Act, Chapter 123, and assured them of the ministry’s continued support in creating an enabling environment for sustainable and profitable investment.
According to the minister, the mining sector has proven to be not only a key driver of GDP growth but also a significant source of foreign exchange, job creation, and social development for Tanzanians.
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