Tanzania continues to benefit from mining sector reforms, which Dar es Salaam says have seen the sector’s contribution to GDP in 2018/19 increase to 5 per cent, up from 4.8 per cent the previous year.
In the 2019/20 financial year, the government targets Tsh470.9 billion ($205.5 million) in revenue from minerals, compared with a projected income of Tsh310.6 billion ($134.5 million) in the fiscal year ending June 30.
Mining Minister Dotto Biteko this past week told parliament that the government plans to boost production and exports, open new mineral trading centres, curb smuggling and ensure closer supervision of the industry.
Capital Drilling (LON:CAPD) provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 91 drilling rigs with established operations in Botswana, Côte d’Ivoire, Egypt, Ghana, Kenya, Mali, Mauritania and Tanzania. The Group’s corporate headquarters are in Mauritius.