The Chief Executive Officer of the State Mining Corporation (STAMICO), Dr Venance Mwasse, has commended the Mining Commission for surpassing its annual revenue collection target, describing the performance as a strong indicator of the mining sector’s growing contribution to the national economy.
The Commission collected TSh 1.071 trillion in the 2024/25 financial year, exceeding its target of TSh 1 trillion.
Dr Mwasse made the remarks during his visit to the Commission’s pavilion at the 49th Dar es Salaam International Trade Fair (DITF), commonly known as Sabasaba.
“This is a remarkable achievement that reflects the strength and potential of Tanzania’s mining sector. It also demonstrates the effectiveness of strong leadership, innovation, and the strategic use of technology within the Commission,” he said.
Dr Mwasse noted that the success was made possible by recent legal reforms, particularly the implementation of the Local Content Policy, which promotes greater participation of Tanzanians in mining-related services, employment, and business opportunities.
“STAMICO is among the institutions that have directly benefited from this policy. It has opened more doors for local professionals and enterprises to thrive in the sector,” he added.
He underscored that the mining sector has grown to become a key pillar of the economy and cited the words of the late Mwalimu Julius Nyerere, who once said that minerals are not tomatoes to be left to rot they must be extracted wisely and responsibly.
For his part, Mr Damian Kaseko, a Senior Legal Officer at the Commission, explained that the Commission was officially established in 2017 under the Mining Act No. 7, with the responsibility of regulating all mining activities in the country.
“Since its formation, the Commission has been steadily strengthened and now plays a crucial role in ensuring that the country’s mineral resources are managed sustainably and in the national interest,” said Mr Kaseko.
The latest figures mark a historic milestone in revenue mobilisation from the mining sector, further solidifying its role in boosting government revenue and accelerating Tanzania’s development goals.
As the sector continues to grow, stakeholders believe it has the potential to drive inclusive growth, create jobs, and increase local value addition aligning with the broader goals of the government’s industrialisation and economic transformation agenda.