Market News

Dr. Mwingulu Nchemba, the minister of finance and planning, presented a 44.39 tri/- budget estimate for recurrent and expenditures. This estimate included a proposal to change the Mining Act, CAP 123, to exclude refinery centres from paying the one percent inspection charge. The goal of the bil . . .

Tanzania and Australia decided to strengthen their business relations. Mr. Scott Morriss, the Australian Trade Commissioner for Africa, visited Tanzania to promote trade ties and increase Australia's involvement in the mining and energy industries. Mr. Morriss and Dr. Doto Biteko, the mini . . .

In an effort to expedite negotiations on pending mining and energy projects, Tanzania signed agreements worth 667 million USD with three Australian companies to mine rare earth minerals and graphite. Tanzania will own a 16% stake in each of the businesses that will be established in conjunction . . .

Coal valued at USD 195.5 million was exported during the year ending January 2023, according to the Bank of Tanzania's (BOT) Monthly Economic Review-February 2023.   When compared to coal exports worth USD 22.2 million in the year ending January 2022, this indicates an increase of +780%. & . . .

The 18 000 tpy flake graphite production facilities at the Sahamamy project in Madagascar have begun operation, according to Tirupati Graphite plc, a specialist graphite and graphene firm creating sustainable new age materials. Thus, the business has achieved a 30 000 tpy flake graphite capacity tha . . .