Geita, Tanzania – The Deputy Prime Minister and Minister of Energy, Dr. Doto Biteko, is set to officially open the 7th National Technology and Investment Exhibition in the Mining Sector in Geita.
The event, which began on October 2 at the Bombambili grounds, has attracted participants from across the country and the region.
Speaking during his visit to the booth of the Mining Commission, Geita Regional Commissioner, Hon. Martine Shigella, accompanied by the Geita Resident Mining Officer, Engineer Samwel Shoo, revealed that over 600 exhibitors from countries including Congo, Rwanda, Burundi, and Kenya are taking part this year.
“This is an excellent opportunity for small, medium, and large-scale miners to learn about various mining technologies. The Ministry of Minerals and its agencies, including the Mining Commission, are present to educate Tanzanians interested in investing in this sector. We encourage everyone to visit these booths to gain knowledge on the entire mining value chain,” said Hon. Shigella.
He emphasized the importance of miners learning cost-effective exploration techniques on plots measuring between 120 and 130 hectares. Shigella advised that modern, affordable technology could help pinpoint the location and quantity of minerals, making the process more efficient.
Attendees will also have the chance to learn about low-cost mining techniques, reducing expenses for miners.
Additionally, they can gain insights into processing gold from rocks, sand, and soil, as well as value addition methods that ensure up to 90% pure gold is obtained, free from contaminants, a prime opportunity for businesspeople in the industry.
Hon. Shigella further noted President Samia Suluhu Hassan’s commitment to supporting miners of all scales.
“The benefits from mining activities are increasingly benefiting Tanzanians. One key law enacted mandates that 20% of gold be purchased by the Central Bank, aimed at ensuring the country builds a robust gold reserve,” he said.
He pointed out the significant increase in gold prices, stating, “Last year, one kilogram of gold sold for $50,000, and now the price has risen to $70,000. If we had saved our gold reserves, we would have gained more value than keeping foreign currencies.”
Shigella urged businesspeople to understand the new regulations. He stated that the Central Bank has introduced clear procedures for buying gold and has removed certain levies, ensuring the price is more favorable compared to destinations like Dubai, where many traders typically sell their gold.
The exhibition provides an exceptional platform for miners, investors, and other stakeholders to engage with the latest technological advancements and investment opportunities in the mining sector, positioning Tanzania as a growing mining hub in the region.