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At the Mining in Motion 2026 conference held in Accra, Ghana, the Minister for Minerals of Tanzania, Anthony Mavunde, called upon African nations to prioritize domestic resource mobilization for financing mineral exploration, processing, and refining. In a session dedicated to discussing the financing of Africa’s mineral future, Mr. Mavunde emphasized the importance of developing stronger domestic financing mechanisms to expand local industries and retain more value from natural resources.
Minister Mavunde highlighted that relying heavily on foreign funding can limit the potential benefits that African countries can derive from their mineral wealth. He stressed that firm policy decisions, political commitment, and cooperation among governments, financial institutions, and the private sector are crucial for mobilizing domestic capital. This approach would enable nations to develop strategic mineral projects and expand local industries.
Citing Tanzania’s experience, Mr. Mavunde shared that the Tanzanian government has established a mechanism to allocate 10% of revenue from the mining sector to detailed geological surveys. This initiative aims to identify mineral deposits and expand exploration, with only about 16 percent of Tanzania’s land currently having undergone detailed geological exploration. This allocation is seen as a crucial step towards reducing dependence on donor funding and enabling Tanzania to finance research into its mineral resources using domestic revenue.
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Minister Mavunde emphasized the need for financing to extend beyond exploration and extraction to include mineral processing and refining industries. Such industries have the potential to create jobs, develop technical skills, broaden economic activity, and increase export earnings from value-added products. This holistic approach to mineral financing could significantly boost the economic landscape of African nations.
Tanzania’s local content policy was highlighted as a key instrument for increasing the participation of Tanzanians in the mining industry. Efforts to promote locally manufactured mining supplies and strengthen the capacity of Tanzanian companies are essential for helping domestic businesses benefit from opportunities generated by the sector.
The conference participants discussed the significance of public-private partnerships, innovative financing mechanisms, and infrastructure investment as vital tools for developing Africa’s mineral industries. Regional cooperation and opportunities under the African Continental Free Trade Area (AfCFTA) were also emphasized as ways to expand markets and build value chains linking African countries.
Minister Mavunde concluded by stating that Africa’s mineral wealth could become a stronger driver of industrialization, employment, and sustainable development if countries strengthened domestic financing, invested in processing industries, and worked together to capture more value from their resources. By mobilizing domestic resources and fostering regional collaboration, African nations can unlock the full potential of their mineral assets.
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