Dodoma. The ministry of Minerals has collected Sh521 billion in revenue in the first half of 2024/25 fiscal year, from July 1 to December 31, 2024, representing 52.2 per cent of its annual target of TSh1 trillion for the 2024/25 financial year.
This was revealed by the minister for Minerals, Mr Anthony Mavunde, on Tuesday, 21 January 2025, while presenting the ministry’s performance report before the Parliamentary Standing Committee on Energy and Minerals in Dodoma.
Mr Mavunde attributed this achievement to effective oversight, robust control measures, and professionalism in revenue collection within the mining sector.
“The ministry has made significant strides compared to about 10 years ago, in the 2015/16 financial year, during which it collected TSh161 billion for the entire year. This year, within just the first half, we have already achieved 52.2 per cent of our Sh1 trillion target for 2024/25,” said Mr Mavunde.
Stamico to take over dormant licences
In a related development, the Mr Mavunde announced that undeveloped medium- and large-scale mining licences would be repossessed by the government and handed over to the State Mining Corporation (Stamico) for development to benefit the nation.
Additionally, Mr Mavunde highlighted Stamico’s plans to play a pivotal role in the production of graphite, aligning with Tanzania’s efforts to establish itself as a key player in the global market for this strategic minerals.
As part of the government’s support for salt farmers, he disclosed that Stamico will construct a large-scale salt purification plant in Lindi Region.
Equipment for the plant has already arrived in the country, and construction is scheduled to commence in February 2025.
Enhanced mineral exploration
The minister further noted that the Tanzania Geological Research Institute (GST) had divided the country into six exploration blocks.
During the current financial year, 18 per cent of the national territory will undergo detailed mineral exploration to expand the database of mineral-rich areas and attract additional investments.
Commendation for the ministry
Chairperson of the Parliamentary Standing Committee on Energy and Minerals, Dr Mathayo David, commended the ministry for its commendable revenue collection efforts and for strengthening the sector.
He also praised the appointment of Eng Ramadhani Lwamo as the executive secretary of the Mining Commission, urging him to execute his duties with diligence and integrity to uphold the trust placed in him by President Samia Suluhu Hassan.
Mirerani gemstone auction
Earlier, the ministry’s director of Policy and Planning, Mr Augustine Olal, disclosed that the gemstone auction held on 14 December 2024 in Mirerani Township generated Sh1.13 billion in sales from 47 successful bids.
The government earned Sh80 million in revenue from the auction.
It is noteworthy that the ministry of Minerals has been tasked with collecting Sh1 trillion in revenue during the 2024/25 fiscal year.
Moreover, under the National Development Vision 2025 and the CCM Election Manifesto, the mining sector is expected to contribute 10 per cent to the national GDP by 2025.
