The Government of Tanzania has officially raised its stake in the Nyanzaga Gold Project, marking a significant step in strengthening its position in the mining sector and boosting prospects for economic growth.
The agreement, signed on August 20, 2025, in Sengerema District, increases the government’s ownership through the Office of the Treasury Registrar (OTR) from 16 to 20 percent in Sotta Mining Corporation Limited, the joint venture vehicle overseeing the project.
The venture is a partnership between the government and Australia-based Perseus Mining Limited.
The signing ceremony was witnessed by Minister for Minerals Anthony Mavunde. The agreement was signed by Treasury Registrar Nehemiah Mchechu and Attorney General Hamza Johari on behalf of the government, while Perseus Mining Director Lee-Anne de Bruin represented the investor.
Mr Mchechu said the increase in government shareholding underlines Tanzania’s commitment to ensuring the mining sector delivers sustainable benefits to its people.
He noted that the agreement is a product of strong relations between the government and investors, and assured that Tanzania will continue to provide a conducive business environment to facilitate the project’s smooth implementation.
For his part, Mr Mavunde described the move as a milestone in consolidating public–private partnerships in the mineral sector.
He said the project will generate employment opportunities, increase government revenues, and improve social services in Sengerema and beyond.
“The Nyanzaga Gold Project will serve as a major catalyst for economic and social development. We want to assure Tanzanians that this project will be managed in a way that maximises national benefits,” the minister said.
He added that more than TZS 1 trillion is expected to be invested in the project. The government, he stressed, will closely monitor its execution to ensure citizens benefit through jobs, procurement opportunities for local businesses, and revenues from taxes and dividends.
Ms de Bruin welcomed the agreement and praised Tanzania for fostering a favourable investment climate. She confirmed that production is expected to begin in early 2027.
“We are grateful to President Samia Suluhu Hassan for building a strong investment environment and advancing diplomatic relations that have paved the way for this milestone,” she said.
The Nyanzaga project is projected to become one of Tanzania’s largest gold mining operations, further consolidating the country’s position as a leading gold producer in Africa.
