Dar es Salaam. As global gold prices remain fairly strong and governments increasingly view mineral wealth as a strategic economic asset, Tanzania's mining conversation is shifting, according to experts.
Historically, Tanzania's gold story has been told through geology. Rich mineral belts have long positioned the country among Africa's leading gold producers.
Experts argue that gold mining today is no longer just a story of extraction, but a narrative of national resilience and economic transformation.
As the world grapples with commodity volatility, they say, Tanzania has established itself as East Africa’s undisputed mining leader, with a mining GDP share nearly double that of its closest regional peers. For those operating within the sector, gold represents a unique "natural safe haven".
Speaking in an exclusive interview with The Citizen recently, Vice President of TRX Gold and its subsidiary Buckreef Gold Mine in Tanzania, Mr Khalaf Rashid, emphasised that gold’s marketability on international stages provides a vital buffer for the national economy.
“Gold has continued to demonstrate resilience, making it a strategic asset for Tanzania’s economic stability,” Mr Rashid noted, adding that the surge in global prices beyond $5,000 per troy ounce in early 2026, has significantly strengthened the nation's foreign exchange reserves.
Indeed, mineral exports, dominated by Gold, reached $4.7 billion in 2025, surpassing tourism as the primary source of foreign currency.
Government data shows mineral exports reached about $5.4 billion (Sh14 trillion) in 2025, accounting for more than half of the country's merchandise exports.
Mining revenue has also grown significantly, with collections rising from Sh526 billion in 2020/21 to Sh1.07 trillion in 2024/25, while the government is pursuing even higher targets as the sector expands.
According to the Minister for Minerals, Mr Anthony Mavunde, the government's focus has shifted beyond increasing production towards strengthening value addition, geological exploration, local participation and mineral processing, while maintaining investor confidence.
Yet industry players argue that successful mining begins long before the first ounce of gold is poured.
According to Buckreef Gold General Manager, Mr Isaac Bisansaba, a viable deposit is merely the starting point. He argues that long-term success is anchored in a "stable investment environment supported by good governance, clear laws and predictable regulations".
For him, the hallmark of a modern, successful mine is the ability to grow sustainably.
Buckreef, for instance, he explained, transitioned from an early-stage project to a stable producer by largely financing its own expansions, doubling processing capacity to 2,000 tonnes per day, up from just 350 tonnes per day, through internal revenue rather than heavy reliance on external debt.
His argument reflects a growing consensus across the mining industry that policy certainly has become almost as valuable as the mineral resource itself.
This internal stability is mirrored in Tanzania’s broader regulatory environment, the explorer argued. The 2017 Mining Act amendments and subsequent reforms under President Samia Suluhu Hassan have restored investor confidence after years of policy uncertainty.
Mr Mavunde noted that the sector is shifting from the traditional model of raw mineral exports toward high-value domestic processing and beneficiation.
This is evidenced by the operation of six gold refineries across the country and a new mandate requiring license holders to process at least 20 percent of their gold locally.
"Investors need confidence that the legal framework will remain fair and transparent," Mr Bisansaba said, adding; "The country's mining regulatory framework today provides a solid foundation for sustainable mining operations."
A critical component of a "successful operation" today is its integration with the local economy. Mr Rashid highlighted a frequently overlooked reality: “more than 80 percent of the revenue generated from gold production now remains within Tanzania through wages, taxes, and local procurement.”
This shift, he noted, is legally reinforced by the 2025 Local Content Regulations, which have tightened joint venture rules to ensure substantive participation by 100 percent Tanzanian-owned companies.
The experts further pointed to the human element as the ultimate proof of sectoral maturity. Mr Bisansaba noted that while some engineering designs for Buckreef came from international experts, the actual implementation has been delivered by a skilled Tanzanian workforce of engineers, technicians, and contractors.
Data supports this observation, showing that Tanzanians now account for 97.1 percent of the mining workforce. "Investing in local professionals is critical for long-term and stable operation," he asserted.
Despite this progress, structural challenges remain.
Analysts from the Tanzania Investment and Consultant Group (TICGL) suggest that while the sector is thriving, it must still bridge gaps in geoscientific data.
Only 16 percent of the country is currently mapped with high-resolution surveys—to unlock further potential. There is also a push to achieve London Bullion Market Association (LBMA) accreditation for Tanzanian refineries to ensure they can sell directly to global central banks.
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