{"id":43041,"date":"2021-12-13T14:46:09","date_gmt":"2021-12-13T14:46:09","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=43041"},"modified":"2021-12-13T14:17:20","modified_gmt":"2021-12-13T14:17:20","slug":"state-australian-firms-ink-a-1-75trn-investment-pact","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact","title":{"rendered":"State, Australian firms ink a 1.75trn\/- investment pact"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>PRESIDENT Samia Suluhu Hassan on Monday witnessed the signing of four mining contracts between Tanzania and Australian Joint venture Companies worth over 1.75trn\/-.<\/p>\n

The contract guarantees the state to set up a joint venture with the foreign investors to manage all mining activities between the government and Australian firms.<\/p>\n

In a ceremony held at the Julius Nyerere Convention Centre in Dar es Salaam the Head of State said the joint venture companies will be responsible for supervising mining in the various areas where mining licenses have been issued for the best interests of the country.<\/p>\n

\u201cThe government’s aim is to see that the country benefits from its mineral resources and to see investors benefit from their investment as well.<\/p>\n

Through these projects the government will benefit in various areas including taxes, levies, employment, dividends\u2026It is our responsibility to ensure that mining, refining and processing activities are properly managed so that we can benefit from our minerals,\u201d President Samia said.<\/p>\n

In addition President Samia said the government\u2019s goal is to ensure that by 2025 the mining sector contribute 10 percent of the country\u2019s Gross domestic product (GDP)<\/p>\n

However the President directed the Ministry of Minerals to invest more in the value addition of the country’s minerals–the area that is crucial for the country\u2019s economic transformation.<\/p>\n

She instructed the ministry in charge to immediately resolve problems facing the State Mining Corporation (STAMICO).<\/p>\n

\u201cWe will do mining here, refinery and everything and add value to our minerals here in the country\u2026but we are also open to investors who want to do mining and go with the value chain until adding value to our minerals. We welcome them but they should know that the joint ventures will also including the value addition of minerals,\u201d she added<\/p>\n

On his part the minister for Minerals, Dotto Biteko said that the sector has grown massively in a short period of time where within six months they have managed to collect over 4tr\/- from minerals.<\/p>\n

\u201cWe were given a task to collect 600bn\/- per year from 580bn\/- but from what I see we will surpass the target,\u201d Minister for Minerals, Dotto Biteko said.<\/p>\n

Mr Biteko added that the ministry has already issued more than 20,277 mining licenses to various investors in the country where a large number is from the small mining investors.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. PRESIDENT Samia Suluhu Hassan on Monday witnessed the signing of four mining contracts between Tanzania and Australian Joint venture Companies worth over 1.75trn\/-. The contract guarantees the state to set up a joint venture with the foreign investors to manage all mining activities between the government and Australian firms. In a ceremony […]<\/p>\n","protected":false},"author":84,"featured_media":43040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[6990,6991,711],"class_list":["post-43041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nState, Australian firms ink a 1.75trn\/- investment pact - Tanzania<\/title>\n<meta name=\"description\" content=\"PRESIDENT Samia Suluhu Hassan on Monday witnessed the signing of four mining contracts between Tanzania and Australian J ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State, Australian firms ink a 1.75trn\/- investment pact\" \/>\n<meta property=\"og:description\" content=\"PRESIDENT Samia Suluhu Hassan on Monday witnessed the signing of four mining contracts between Tanzania and Australian J ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-13T14:46:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/12\/img-61b755d9f1da6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"842\" \/>\n\t<meta property=\"og:image:height\" content=\"419\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"State, Australian firms ink a 1.75trn\/- investment pact\",\"datePublished\":\"2021-12-13T14:46:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\"},\"wordCount\":414,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/12\/img-61b755d9f1da6.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/state-australian-firms-ink-a-1-75trn-investment-pact\",\"name\":\"State, Australian firms ink a 1.75trn\/- investment pact - 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