Tanzania’s small-scale mining sector is set to receive a boost after US-based Falcone Sovereign Wealth Fund Partnership Inc. announced plans to invest in local mining operations through direct partnerships with artisanal and small-scale miners.
The proposed investment is expected to provide miners with access to capital, modern equipment and advanced mining technologies aimed at improving productivity, safety and operational efficiency.
The initiative was discussed on Tuesday during a meeting between company executives and Deputy Minister for Minerals, Dr Steven Kiruswa, in Dar es Salaam.
Dr Kiruswa welcomed the company’s decision to focus on small-scale miners, saying the move aligns with the government’s efforts to strengthen local participation in the mining industry and increase the sector’s contribution to economic growth.
“Investments that empower small-scale miners create wider economic benefits because the income generated remains within local communities and supports employment, business growth and national development,” he said.
He noted that Tanzania has continued to improve its investment climate through policy and regulatory reforms that encourage collaboration between local miners and private investors.
At the same time, Dr Kiruswa urged the company to ensure full compliance with Tanzania’s mining laws, regulations and operational guidelines as it rolls out its activities in the country.
Falcone Sovereign Wealth Fund Partnership Inc. Director Nicholas Dalessandro said the company will begin its programme in Chunya District, a major small-scale mining hub, before expanding to other regions.
He said the investment will not only provide financial support but will also introduce modern equipment and technologies intended to enhance productivity and improve mining practices.
Dalessandro added that the programme will place special emphasis on supporting women, youth and other underrepresented groups involved in mining activities, with the aim of broadening economic opportunities within the sector.
Officials from the Ministry of Minerals, including Deputy Permanent Secretary Msafiri Mbibo, attended the meeting alongside representatives of the US firm.
The planned partnership comes as Tanzania continues to promote investment in the mining sector while encouraging greater participation of local miners in the extraction and value-addition chain.
