By: TPA News Desk | Business News | www.thepointafricanews.com/africa/business

Tanzania is poised to become a significant player in the global uranium market, with the country’s Minister for Minerals, Anthony Mavunde, announcing that it is set to join the ranks of the world’s top 10 uranium producers. The ambitious forecast is backed by an estimated 139 million tonnes of uranium deposits and a projected mine life of 22 years.

Minister Mavunde made the declaration on Tuesday during an inspection of a strategic uranium mining project in the Namtumbo District, Ruvuma Region. The project, led by Mantra Tanzania Limited, a subsidiary of Russia’s state nuclear energy firm Rosatom, is expected to commence operations soon following the completion of a pilot uranium processing plant.

“One of the priorities of the government is to add value to minerals within the country. President Samia Suluhu Hassan has given us specific directives to ensure this is achieved,” Mavunde stated, emphasizing the government’s commitment to local beneficiation. “The launch of this project, which includes construction of a value-addition plant for uranium, is a clear demonstration of the government’s commitment. The Ministry of Minerals will continue to oversee this initiative to ensure it benefits our nation.”

The Minister highlighted the substantial economic benefits anticipated from the project, projecting the creation of over 4,000 direct jobs and more than 100,000 indirect employment opportunities.

Tanzania’s move to capitalize on its vast uranium reserves comes amidst a global push for diversified energy sources and increased interest in nuclear power. If successful, this venture could significantly boost the nation’s economy and its standing in the international minerals sector.