Overview of mining sector
Tanzania is the 4th largest gold producer in Africa after South Africa, Ghana and Mali. Gold production currently stands at roughly 40 tonnes a year, copper at 2980 tonnes, silver at 10 tonnes and diamond at 112670 carats. In total the mining sector contributes 2.8% to GDP each year but this could rise considerably in future years, with Business Monitor International (BMI) forecasting average annual growth in the sector of 7.7% between 2011 and 2015. BMI also predict a doubling in value of the sector between 2010 and 2015, from US$0.64bn to US$1.28bn.
Minerals that have been identified in Tanzania include gold, iron ore, nickel, copper, cobalt, silver, diamond, tanzanite, ruby, garnet, limestone, soda ash, gypsum, salt, phosphate, coal, uranium, gravel, sand and dimension stones.
The major pieces of legislation governing the industry today are the 1997 Mineral Policy, 1998 Mineral Act and 2010 Mineral Act which can be found on the website for the Parliament of Tanzania, www.parliament.go.tz