Housing the world class deposits of Lake Victoria, Tanzania, famous for its Serengeti and Kilimanjaro, has shown exponential growth in gold mining industry over the past decade and continues to be a gold magnet for investors world over.
The country has excellent regional geology with the existence of linear bands of mafic volcanic and sedimentary rocks, surrounded by granite and gneiss terrains, which contains the Tanzanian Craton of Archean age. These bands are referred to as Greenstone belts and received widespread attention for their gold mineral in the country. Particular attention on the shear hosted gold mineralization associated with Banded Iron Formations (BIF), tuffs and volcano-sedimentary exhalative. Lake Victoria Greenstone belt of Northern Tanzania has been recognized as a world-class gold province and presently has six large producing gold mines. The country has produced 40.4 tonnes in 2011 as compared to 35.6 tonnes in 2010.
Established civil service, free and vibrant press.
Tanzania has an average GDP growth of 6.9% from 2001 to 2014 (7%).
FDI inflows grew at a 10% CAGR from 2005 to 2014.
Tanzanian Government has implemented policies to boost investment in mineral resource industry. Extremely low royalty rates are applicable on mineral exports.
1997 Mineral policy laid the foundation and Mining Act of 2010 marked clear shift towards private sector participation in mining.