The government of Tanzania has entered into partnership with Kabanga Mining and expects to collect around Tsh 17 trillion from Nickel mining for the next 33 years.
This Nickel project will run through Tembo Nickel Corporation, a joint venture company formed between the government of Tanzania and the United Kingdom’s Kabanga Mining which will invest USD 412 million into the project.
The feasibility report shows that there are 58 million tonnes to be mined and In the first 5 years the project is expected to produce an average of 600,000 tonnes of nickel per annum, a number that will increase up to 2.2 million tonnes later on, said the Minerals Minister, Doto Biteko.
978 Tanzanians are guaranteed to get jobs working on the project. The Tanzanian government has 51% share while Kabanga Mining has 49% shares in the project.
Biteko added that the Tanzania Extractive Industries Transparency Initiative has been of help ever since its establishment as there is transparency and so far the gold mining contribution has risen.
Adding on to that, Danstan Kitandula, Chairman of the Parliament Committee for Mining and Energy said he was pleased with the issuance of the mining licence and emphasized that TEITI reports were crucial to examine the extractive industry’s growth.
The Tanzanian Nickel deposit project is thus far the largest in the world.