by Ina King (Potgieter)
The Tanzanian mining industry is set for a big boost in the latter half of 2016, with construction of the Mchuchuma coal and Liganga iron ore projects in Tanzania’s Mbeya Region, set to commence. Finance and implementation is via Tanzania China International Mineral Resources Ltd (TCIMRL), a joint venture between the Tanzania’s National Development Corporation (NDC) and Chinese company, Sichuan Hongda Group.
Tanzania’s Minister for Industries, Trade and Investment, Charles Mwijage made the announcement in May 2016.
About US $ 3 billion will be spent on both projects, with start-up capital of US $ 600 million from Sichuan Hongda Group, leaving the debt finance standing at US $ 2.4 billion. This is the largest single industrial investment since Tanzania gained independence in 1961, according to the country’s government. It will involve construction of an iron plant, with the capacity to produce one million tonnes per year, and a 600 MW power plant. 250 MW from this plant will be consumed by the plant itself and the remaining 350 MW fed into national grid.
These projects form part of the Africa Mining IQ database of over 1 850 African mining projects, where we supply key mining intelligence, including [primary] contact details for project engineers and developers, on each project.. These projects are organised in terms of their mine lifecycle: grassroots, pre-feasibility, feasibility, bankable, active and operational phases.
According to Mwijage, a substantial sum of money has already been set aside to compensate inhabitants living around the mining project area. He said that once this process is complete the next step, which involves setting up of the plants, would commence.
We monitor progress on these developments daily, with regular updates posted on the Africa Mining IQ intelligence portal. Companies subscribing to Africa Mining IQ’s e-mail alerts will be among the first to know about new developments, completed expansions and definitive production expectations, when they are announced.
Tanzania's stake in the combined project is currently 20%, with the remaining 80% owned by Sichuan Hongda Group. However, Mwijage said that it is government’s intention to increase its stake to 49% in due course. In addition to Tanzania becoming the third largest iron producer in Africa as a result of these plants’ development, they will also generate approximately 32 000 jobs.
With over 1 850 projects in Africa currently listed on its online database, Africa Mining IQ covers extensive listings on the continent’s prominent minerals, and is used by over 170 companies to grow their operations across the continent. A subscription to Africa Mining IQ provides members with the ability to track, target and record these mining projects with accurate, holistic information that is updated daily and accessible 24/7, 365 days a year.
Explorations conducted at the Mchuchuma and Liganga projects have confirmed that the coal and iron ore deposits will be mined for more than 100 years.
Mining in Tanzania projects listed on Mining IQ’s database currently profiles 24 projects. Minerals mined in these projects include 3 Coal, 9 Gold, 2 Graphite, 4 Industrial, 1 Iron Ore, 2 Nickel, 1 Phosphate, 1 Tantalum/Tantalite and 1 Uranium.
AMIQ tracks over 1 900 projects across Africa. If you want to invest in mining, if you want to invest in Africa, if you provide product or services to mines in Africa, you need AMIQ intel.
Africa Mining IQ has created various analysis reports to provide you with an overview of mining projects in Africa by region, mineral type, and plant type. You can use these reports to analyse growth potential in developing commodity markets and better strategically plan your business development efforts. Africa Mining IQ provides a complete project report for each of the over 1 900 African projects we track, including everything from historical and up to the minute commentaries to contact details for suppliers, engineers and mine owners.
AMIQ has 170 company subscriptions, 20% of which are international. It is becoming easier to do business across the globe. AMIQ is for anyone who supplies a product or provides a service to mines. With key contact details, and being in the know in the early stages of project development, you can build meaningful relationships with the right people and position yourself early for a successful bid for mining projects in Africa. Keep a close eye on developing projects aligned to your business and identify projects, with weekly or monthly alerts. Don’t delay, subscribe to AMIQ today and reap the rewards of comprehensive African mining project intelligence.
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