Tanzania’s Chamber of Mines to Highlight Graphite, Rare Earth Prospects at CMA 2024
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Tanzania is implementing various measures to cement its position as a global critical minerals market and bolster export revenues and economic growth. In February, the country launched a development strategy to advance its critical mineral value chain, focused on formulating investment-friendly policies and fast-tracking rare earth, lithium, graphite, nickel and neodymium project rollouts. As a result, Tanzania is set to become one of China’s fastest-growing sources of imported rare earth ores – accounting for 10% of China’s imported rare earths by 2029 – according to research firm Benchmark Intelligence.
The Critical Minerals Africa (CMA) 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting [email protected]
“Tanzania’s critical minerals sector is an ideal candidate for foreign investment, which is needed to drive industry expansion. Growing global demand for transition minerals and recent successes in exploration across the continent encourage Tanzania to expand its mineral exploration activities – particularly for rare earth and graphite resources – creating new jobs and empowering local communities in the process,” stated Rachelle Kasongo, Conference Director at CMA 2024 organizers, Energy Capital & Power.
Home to some of the largest graphite reserves globally, Tanzania is driving resource exploitation in partnership with foreign investors to meet growing demand for clean energy technology applications. Notable projects which are at a stage of mobilizing funds for mine construction are Nachu project operated by Magnis Energy Technologies; Epanko Mine operated by EcoGraf; Bunyu Mine operated by Volt Resources; Mahenge Project operated by Black Rock Mining (Faru Graphite); Chilalo Mine operated by Evolution Energy Minerals; and Lindi Jumbo Mine operated by Walkabout Resources.