Vital mines: Australian firms ready to put $4bn
June 6, 2023
Francis Kajubi
DAR ES SALAAM
News
The Guardian
Vital mines: Australian firms ready to put $4bn
NINE Australian mining companies expect to invest up to 9.46trn/- ($4bn) within two years to start mining operations for global critical minerals, an Australian government official has affirmed.
PHOTO:TANZANIA INVESTMENT CENTER
Scott Morris, the Australian trade commissioner for Africa, told journalists at the weekend on a visit to Dar es Salaam that the investment in critical minerals follow the signing of framework agreements with the government over the past two years.
Critical minerals targeted by Australian mining firms include cobalt, graphite, nickel, lithium and a range of other rare earth metals, he said, citing firms like
Black Rock, EcoGraph and Evolution Energy are interested in graphite mining. Peak Rare Earths, another firm, will invest in the rare earth metals while Kabanga Nickel has started working on a nickel project in Biharamulo District, he said.
Strandline Co. seeks to invest in mineral sands while OreCorp and WalkAbout target gold and other minerals found along with gold ore, he stated, noting that critical minerals have been discovered in Kagera, Mwanza and Morogoro regions.
Other firms had already signed framework agreements and granted special mining licences, he said, at a reception he co-hosted with Minerals minister Dr. Doto Biteko for Australian businesses in Tanzania.
The firms included those providing mining equipment, technology and maintenance services, making an observation that the firms had placed $40bn (Australian dollars) in mining and related activities in Africa,
The firms are providing significant revenue to host countries, he stated, explaining that Australia is working closely with Tanzania to achieve its ambition for the extractive sector to contribute at least 10 percent of the country’s GDP by 2025.
The trade commissioner met Tanzania Investment Center (TIC) officials, the World Bank representative and its private sector branch, the International Finance Corporation (IFC) country office.
“Australian firms are optimistic for the future of Tanzania’s mining industry,” he said, underlining that the Australian government “is pleased to support their work by bringing global best practice to the sector.”
“I’m pleased to see Australian companies are progressing major critical mineral projects in Tanzania. We intend to further grow our trade and investment relationship as well as in education and vocational training, health and technology, food and agriculture,” he stated.
Anna Rabin, an Australian honorary consul in Dar es Salaam, said that Australia is reinvigorating ties with Africa, pointing at the twoo countries as globally attractive mining destinations.
In his remarks, the minister was optimistic on the country’s role in helping with the global shift to clean alternative energy and electric vehicles use, making the attraction of investments in strategic minerals a sound proposition.
The country’s mining sector is growing stronger and stronger with ao stretch of Australian mining companies signing contracts for graphite and rare earth metals mining activities.
Australian companies are also good observants of environmental corporate governance rules, he said, inviting the firms to the Tanzania Mining Investment Forum set for October.
NINE Australian mining companies expect to invest up to 9.46trn/- ($4bn) within two years to start mining operations for global critical minerals, an Australian government official has affirmed.
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MY TAKE
To all those Kundustans that think SGR to Burundi and Kigoma and the Lager Great Lakes region won't break even. This is investment in Biharamulo n Kagera only then there r serious deposits of Nickel in Burundi aside eastern DRC the mother of all deposits!
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