The Deputy Prime Minister and Minister of Energy, Hon. Doto Mashaka Biteko, has lauded the Ministry of Minerals for its ongoing efforts to bolster the nation's gold reserves through the Bank of Tanzania (BOT).
The strategic initiative is considered a crucial step in advancing Tanzania’s economic development.
Hon. Biteko made these remarks on October 5, 2024, during the official opening of the 7th National Mining Technology Exhibition, held in Geita.
The event's theme was "Utilizing Clean Energy Technology in the Mining Sector for Sustainable Development."
“Our God-given wealth is in minerals, including gold, and it is imperative that these resources drive our economic growth. I commend the Ministry of Minerals for their diligent work in launching and advancing the initiative to build gold reserves through the Bank of Tanzania," stated Hon. Biteko.
In his address, the Minister of Minerals, Hon. Anthony Mavunde, confirmed that the recent strike involving stakeholders’ refusal to sell gold to the BOT has been resolved.
He explained that, through dialogue and clarification of key concerns, the government and stakeholders reached a consensus. The resolution was part of the reconciliation philosophy championed by President Dr. Samia Suluhu Hassan.
Minister Mavunde also called upon all stakeholders to support the government’s plan to build gold reserves through the BOT and assured them of continued cooperation in addressing any emerging challenges.
Geita Regional Commissioner, Hon. Martin Shigela, praised the government for its efforts to develop the mining sector, particularly in empowering small-scale miners.
He pledged that the Geita region will continue to be a catalyst for economic growth through mining, as it is a major producer of gold.
Additionally, the Vice Chairperson of the Parliamentary Committee on Energy and Minerals, Hon. Kilumbe Shabani Ng’enda, expressed satisfaction with the Ministry of Minerals' management of laws and policies for the benefit of the economy and the nation as a whole.
In his remarks, the President of theFederation of Miners' Associations of Tanzania (FEMATA), Mr. John W. Bina, commended the Ministry of Minerals for its attentiveness and ongoing dialogue in addressing challenges as they arise.
He assured that, following a collective meeting, stakeholders have agreed to the government’s plan for purchasing gold through the BOT.