Mineral traders at the Nzega Mineral Market in Tabora Region say the introduction of official mineral markets across the country has significantly improved the way mineral business is conducted, by increasing transparency, improving security, and making transactions more efficient.
Speaking at the Nzega Mineral Market, the Market Secretary and mineral trader, Revocatus Chungu, said the establishment of formal markets has provided traders with organized spaces to conduct their activities.
He said this has replaced the earlier informal system, which often exposed traders to risks such as fraud, lack of proper records, and reliance on middlemen.
He noted that the current system allows buyers and sellers to meet directly under regulated procedures, which has helped improve pricing fairness and reduced unnecessary intermediaries in the value chain.
According to him, this has contributed to more structured and predictable business operations in the sector.
Chungu added that the system has also improved government revenue collection through better monitoring of mineral transactions.
He said traders and small-scale miners are now able to operate within clearer guidelines, which has helped improve consistency in their income and strengthened local economic activity around mining areas.
He further said that the presence of mineral markets has simplified business procedures, reduced delays in selling minerals, and encouraged more people, particularly youth, to engage in the sector.
This has contributed to increased participation and job creation in mining communities.
A worker at Banjul Limited, Hussein Sadala, said cooperation between the Office of the Resident Mines Officer in Tabora Region and stakeholders has improved coordination in the sector.
He said this has helped to streamline services and reduce operational challenges faced by traders.
Sadala noted that formal mineral markets have removed the challenge of searching for buyers, as transactions now take place in designated areas where both buyers and sellers are present.
He said this has improved business confidence and encouraged more structured competition among traders.
He added that the regulated system has helped reduce disputes that were previously common in informal trading environments, as transactions are now conducted under clear procedures and oversight.
Stakeholders at the Nzega Mineral Market said they expect continued improvements in the mining sector as formal systems become more established, contributing to increased efficiency and wider participation in mineral trade.
