In an exclusive interview with Energy Capital & Power during Critical Minerals Africa 2024 last week, Dr. Venance Mwasse, Managing Director of STAMICO, emphasized the importance of geological data in driving this initiative and stated that the firm is looking for new joint ventures to explore the country's untapped basins.

“The key entry in this new critical mineral industry is geological information, hence the country is investing in new exploration through Vision 2030,” said Mwasse. He highlighted that the primary objective is to de-risk Tanzania’s critical mineral prospects and attract strategic investments.

Dr. Mwasse further elaborated that this initiative is part of a broader effort to bolster Tanzania’s economic growth by fostering investments in critical minerals and related industries.

“We have two competing agendas: to be part of a global solution to climate change and to harness our minerals to take care of our people and the economy, hence why we need processing to be done in-country for it to create employment,” said Mwasse.

To facilitate local processing and strengthen regional cooperation, Tembo Nickel Corporation Limited is establishing a multi-metal refinery in Kahama. The facility will not only meet Tanzania’s domestic needs, but also support downstream demand from neighboring Burundi and the Democratic Republic of Congo.

“African markets need to identify areas for synergy and map value chain activities strategically to capitalize on each country’s strengths to be able to address global needs while benefiting our people,” said Mwasse.

In support of the government's exploration efforts, STAMICO has invested in advanced geophysical equipment and 14 drilling rigs, which can be made available to exploration partners, according to Dr. Mwasse. This investment underscores Tanzania’s commitment to leveraging its critical mineral assets for national and regional development.