Dodoma.
Amendments in the Tanzanian mining laws have transformed the sector for the better, including doubling local employment opportunities in the mines from previous 50 percent to more than 96 percent.
Domestic purchase of gemstones and other valuable stones have also shot up to 92 percent and counting.
Speaking in Dodoma, the Tanzania Mining Commission (TMC) Executive Secretary, and Engineer Yahya Samamba observes that the improvements have enabled the sector to highly heighten its contribution to the Gross Domestic Product (GDP).
In 2017, the National Assembly made amendments on a number of laws and policies guiding the extractive industry and the finance sector in order to seamlessly link the two segments reinforcing compliance and ensuring maximum collection of revenues.
Local participation in the mining industry has also been on the rise, thanks to the recently made adjustments.
“Before the amendments, mining companies used to hire mostly foreign employees even for jobs or positions that could easily be filled by Tanzanians, this has since changed,” says Engineer Yahya Samamba.
According to the official, so far even supply of heavy construction equipment and other auxiliary services to the extractive industry is being handled by local firms and suppliers.
“Even when it comes to the importation of the type of machinery not available in the country mining companies get to first request permission from the Mining Commission before placing such orders,” Eng Samamba maintained.
As for other potential foreign investors who want to partake in the Tanzanian mining sector the Tanzania Mining Commission (TMC) Executive Secretary Samamba, assured that the environment has been made even more conducive for such undertakings.
“Processes have been made easy, while tax laws are now friendly we are thus looking forward to getting more investors in the mining sector!” says the official.
Recently, the National Bureau of Statistics released an annual report indicating remarkable growth in Tanzania’s Mining sector, with gold production towering above others.
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