Arusha. The State Mining Corporation (Stamico) has formalised a strategic partnership with Singapore-based Planet One Natural Resources Holdings PTE LTD.
This historic agreement focuses on the exploration and development of graphite licences in the Mirerani area of Simanjiro District.
Deputy Minister for Minerals, Dr Steven Kiruswa, officiated the signing ceremony in Manyara Region.
He described the contract as a transformative step for the local economy and the national mining sector.
Dr Kiruswa emphasised that the project must deliver tangible benefits to the local community.
He urged the investors to prioritise residents of Mirerani and Simanjiro for employment opportunities.
He said that the company should procure goods and services from nearby businesses to stimulate the regional economy.
Graphite is currently classified as a strategic mineral due to its essential role in manufacturing electric vehicle batteries.
The ministry of Minerals continues to oversee the sector through robust policies and legal frameworks.
Deputy Permanent Secretary, Msafiri Mbibo, noted that these systems ensure efficient research, extraction, and value addition.
Stamico managing director, Dr Venance Mwasse, confirmed that this is the third major investment agreement signed this year.
He remarked that such partnerships prove Tanzania remains a premier destination for global mining capital.
The project is expected to generate significant government revenue and create numerous jobs.
Financial performance within the state corporation shows a strong upward trajectory.
Stamico Board Chairman Amb, Simon Sirro, reported that annual revenues rose from Sh19.81 billion in the 2021/22 financial year to 72.99 billion Shin 2024/25.
He encouraged Simanjiro residents to cooperate with the investors while maintaining high levels of integrity in their work.
He viewed the investment as a direct reflection of the government’s commitment to utilizing mineral resources for national growth.
Planet One managing director, Ramakrishna Chinnamsetty, expressed confidence in the long-term collaboration between Tanzania and Singapore.
He stated that the venture extends beyond simple extraction to include improvements in infrastructure, health, and education.
The firm has pledged to respect local environmental standards and cultural heritage throughout its operations.
Mr Chinnamsetty concluded that the project aims to position Tanzania as a leading global producer of high-quality graphite.
