Tanzania’s Minerals Minister Calls for Domestic Funding of Exploration

Tanzania’s Minerals Minister Anthony Mavunde has urged African countries to finance more mineral exploration and processing with domestic resources. Speaking at the Mining in Motion 2026 conference in Accra on 20 October, he chaired a session on financing the sector from exploration through refining. Mavunde said governments need clear policy, political commitment and cooperation with financial institutions and private companies to reduce dependence on external funding.

Using Tanzania as an example, Mavunde said the government allocates 10% of mining revenue to detailed geological surveys. He added that only about 16% of Tanzania’s land has received detailed exploration, leaving substantial room for new discoveries. He also argued that funding should extend beyond extraction into processing and refining, which could support jobs, technical skills, exports and local suppliers. The session also considered public-private partnerships, infrastructure investment and cross-border mineral value chains.