Lawfic Attorneys contributes to Tanzania Mining Insights for Lexology 2023
The Lawfic team is excited to have contributeed to the Lexology – Getting The Deal Through – Mining Chapter for Tanzania in 2023. We hope you will enjoy the insights and knowledge contained herein.
Mining accounts for 10 per cent of the country’s GDP and up to 50 per cent of exports, it employs more than 310,000 Tanzanians, while the country’s earnings with minerals exports reach up to US$3.6 billion.
Tanzania is the fourth largest gold producer in Africa and is the world’s sole producer of the precious stone Tanzanite. Gold production currently stands at roughly 40 tonnes a year, copper at 2980 tonnes, silver at 10 tonnes and diamonds at 112,670 carats.
Now the focus is on minerals used in battery technology or renewable energy, with most mines at prospecting stages and a few about to start production with graphite, nickel and uranium taking centre stage.