Dodoma,The Minister of Minerals, Anthony Mavunde, chaired a high-level strategic meeting aimed at strengthening Tanzania's participation in the mineral sector through the State Mining Corporation (STAMICO).
The meeting, held in Dodoma, brought together senior officials from the Ministry of Minerals and its institutions to develop a roadmap for large-scale investment in strategic and rare minerals.
The session follows recent government efforts to position STAMICO as a key driver in the mining industry.
Having once been earmarked for closure, STAMICO has undergone significant transformation and now stands as one of the leading state-owned enterprises in the sector.
The corporation has achieved full financial independence from government support and has already contributed TZS 9 billion in dividends to the Treasury.
“Our goal is to see STAMICO grow into a world-class mining company, just like Barrick Gold or AngloGold Ashanti,” said Minister Mavunde.
“These upcoming projects will not only increase revenue but also allow Tanzanians to benefit more directly from the wealth of our own mineral resources.”he added
He further noted that the corporation is expected to increase its revenue by more than 500% by the year 2029, driven by its focus on strategic and rare minerals.
“If we are given the opportunity to manage and develop our resources ourselves, the benefits are enormous,” he added.
The minister also unveiled STAMICO’s new slogan, MASTASHA (Make STAMICO Shine Again), symbolizing a renewed commitment to growth, innovation, and national benefit.
“This motto represents our determination to restore the vision, energy, and ambition that STAMICO had when it was first established,” said Mavunde.
STAMICO’s Chief Executive Officer, Dr. Venance Mwasse, presented an overview of the corporation’s strategic projects, which include both in-house initiatives and joint ventures.
These projects aim to create employment, boost government revenue, and attract foreign investment, while advancing technology and increasing competitiveness in the sector.
“We are focusing on critical minerals like gold and nickel. Some projects will be executed directly by STAMICO, while others will involve strategic partnerships,” Dr. Mwasse explained.
“Our intention is to ensure that our natural resources bring sustainable value to the nation.”he added
Founded in 1972, STAMICO was established to invest on behalf of the government across the full mineral value chain.
With its new direction and strengthened leadership, the corporation is now poised to play a pivotal role in Tanzania’s economic development and global mining presence.