Tanzania Seeks to Scale Up Minerals Revenue in FY 2025/2026

Minerals resources are being prioritised to have significant contribution to Tanzania’s GDP according to the country’s ambitious  Development Vision 2025.

Presenting to the National Assembly, the Minister of Minerals outlined an ambitious strategy that will buttress efforts to tap into exploitation of Minerals wealth.

According to the priorities reflected in the presentation, the Ministry seeks to; enhance revenue collection, Increasing the mining sector’s GDP contribution; proping value chain for critical and strategic minerals, and Promoting investment and mineral value addition.

Other priorities include; Improving gemstone auctions and exhibitions;Scaling investment in advanced mineral exploration; Formalizing and supporting small-scale miners including women, youth, and persons with disabilities and Strengthening institutional capacity.

According to details in the presentation, the Mining Ministry boasts of a budget size of TZS 531,269,444,006.46 increased from TZS 231,983,614,000 in the 2024/2025 Financial Year.

President Samia Suluhu Hassan has set a clear objective for the governments approach to the mining sector; to enhance benefits derived by Tanzanians. The comprehensive strategy involves increasing the value of minerals within the country, enabling the central Bank to establish substantial gold reserves, and ensuring that mining licences are fully utilised.

The Mining Ministry in the 2024/2025 FY was tasked with collecting TZS 1,164,850,027,000. Of this, TZS 1 trillion was to be remitted to the Treasury, while TZS 164,850,027,000 was allocated for institutional self-financing within the Ministry.

Statistics from the country’s Mining Ministry indicate that there is significant performance of the sector.

For example, by March 2025, TZS 783.88 billion had been collected and submitted to the Treasury, equivalent to 78.39% of the target.

Revenue collection improved by 42.97% compared to the same period in 2023/2024. The sector grew by 11.3% in 2023, up from 10.9% in 2022. Its contribution to GDP rose from 9.1% in 2023 to 10.1% in 2024, surpassing the 10% target set for 2025/2026.

Mineral exports reached USD 4.12 billion in 2024, a 16% increase from U$ 3.55 billion in 2023, driven by a rise in gold exports. Minerals accounted for 60% of all non-traditional exports.

The Ministry issued 9,540 mineral export permits in 2024, up from 8,809 in 2023, reflecting growing global demand.

Additionally, 116 import permits worth USD 14.81 million were issued to regulate the domestic mineral market.