Australian investment in Tanzania is expanding, with mining contracts signed in the past two years with Australian companies valued at over TZS 10 trillion (USD 3.6 billion).
The Australian and Tanzanian mining sector came together today in Dar es Salaam for a breakfast and panel discussion hosted by the Australian Deputy High Commissioner Chris Ellinger and Australian Trade and Investment Commissioner for Africa Scott Morriss who are in the country for the Tanzania Mining and Investment Conference.
Joined by Deputy Minister of Minerals, the Hon. Dr. Steven L. Kiruswa MP, the panel discussion explored the significant potential for Australian investment in Tanzania, with mines moving into construction phase as well as opportunities within the subsequent value chain. The Deputy Minister highlighted the Tanzanian Government's openness for consultation on potential projects, and that Australian technology and training avenues are assisting to grow Tanzania's mining value chain.
Australia-Africa ties are expanding with Australian companies investing over AUD $60 billion in mining projects across Africa. In Tanzania, 35 Australian companies have invested in mineral exploration, mining, value addition and geohazard management while applying the highest Environmental, Social, and Governance standards. New research from the Australian Government indicates that twelve Australian companies set aside approximately USD $26 million for exploration in Tanzania - a practical demonstration of Australia's confidence in, and commitment to, the future of mining in Tanzania.
In September 2024, Tanzanian Minister of Minerals Anthony Mavunde was an official guest at Africa Down Under, Australia's most significant Africa-focused mining conference, where he held bilateral talks with Australia's Assistant Minister for Foreign Affairs the Hon. Tim Watts MP. Tanzania's Commissioner for Minerals, Dr Abdul Mwanga, is currently in Australia undertaking further mining-related university studies under the Australia Awards program.
Australian Trade and Investment Commissioner for Africa Scott Morriss said:
"Australian companies are providing education and skills opportunities to local African communities around mining operations, and over 65 per cent of Australian Mining, Equipment Technology and Services (METS) companies export to overseas mining destinations including a third to Africa. These companies have established strong resilient supply chains globally that can flexibly adapt to customer needs."
Deputy High Commissioner Chris Ellinger said:
"Tanzania's mining sector has consistently contributed significantly to the country's GDP. From 2018 to 2022, the sector's contribution grew from 4.8% to 9.1% and the Tanzanian Government aims to increase the mining sector's contribution to 10% of GDP by 2025. Australia's world class expertise in the resources sector makes us an important partner for Tanzania and we look forward to seeing Australian-facilitated investments delivering more jobs, skills and revenue to Tanzania in the future."
