Tanzania Finalises the Construction of Tanzanite Exchange Centre

Posted on : Monday , 1st December 2025

Tanzania has unveiled ambitious plans to improve its mining sector, with the objective of becoming the principal mineral trading hub in East and Central Africa by 2030, while also increasing the sector's contribution to national economy. During the start of the 13th Parliament, President Samia Suluhu Hassan stated that the government is finalising the construction of the Tanzanite Exchange Centre (TEC) in Mirerani, which is expected to streamline tanzanite commerce and increase the value of minerals locally.

Tanzania intends to boost local value addition, build a multipurpose mineral refinery by 2030, and stop exporting raw mineral concentrates. According to President Samia, this would increase job opportunities and enhance the country's economy. She also announced the establishment of the Minerals Sovereign Wealth Fund, which would guarantee that earnings from natural resources benefit future generations.

The President emphasised that minerals, unlike crops, cannot be replanted once mined they are gone, thus sustainable management is vital for long-term value. These efforts demonstrate the government's commitment to transforming minerals into long-term economic advantages, creating jobs, attracting investment, and ensuring prosperity for future generations, she added.