“Government is building STAMICO into a major mining player to boost the sector’s productivity” — Minister Mavunde
By The Respondents Reporter
The Government, through the Ministry of Minerals, has begun preparations to transform the State Mining Corporation (STAMICO) into a major investor in Tanzania’s mining sector, a move aimed at increasing productivity and enhancing the contribution of mining to the national economy.
These remarks were made today, January 16, 2026, by the Minister of Minerals, Anthony Mavunde, during a meeting with the Parliamentary Standing Committee on Energy and Minerals held at the National Assembly in Dodoma.
Minister Mavunde stated that STAMICO has already acquired large, modern mining equipment capable of supporting large-scale operations, positioning the corporation to operate at a level comparable to major mining companies such as Barrick Gold and Geita Gold Mine.
“The Government is building STAMICO into a major mining player to enhance productivity across the entire mining value chain and ensure Tanzanians benefit more from their natural resources,” said Minister Mavunde.
He emphasized that the mining sector remains a key driver of the national economy, with recent achievements attributed to the visionary leadership of President Samia Suluhu Hassan, who has created an enabling environment for both local and foreign investors.
Providing an overview of STAMICO’s structure and responsibilities, the corporation’s Chief Executive Officer, Dr. Venance Mwasse, said the company has strengthened significantly thanks to deliberate Government measures, including enhanced leadership, investment funding, and close supervision.
During the meeting, the Executive Secretary of the Minerals Commission, Engineer Ramadhani Lwamo, reported that in the 2024/25 financial year, the Commission exceeded its revenue collection target by 108 per cent, raising TZS 1 trillion against the planned target.
For the current financial year, the Commission is tasked with collecting TZS 1.2 trillion and had achieved 56 per cent of the target by December 2025.
Meanwhile, the Chairperson of the Parliamentary Standing Committee on Energy and Minerals, Hon. Subira Mgalu, praised Minister Mavunde and his team for their effective leadership and management of the sector.
He further pledged that the Committee will continue to work closely with the Ministry of Minerals and its institutions to ensure that the sector’s plans and strategies are successfully implemented for the benefit of the nation.