Business
Tanzania TO Take Critical Minerals Stage After Signing $1B In Deals With Australia, United States (US)
Hon. Dr. Steven L. Kiruswa, Deputy Minister of Minerals of Tanzania, will join a high-level line-up of speakers at the upcoming Critical Minerals Africa (CMA) 2023 summit affirming the country’s position as a leading mining hotspot.
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As demand for green energy and transition minerals soars, Tanzania has drawn global interest in the extraction and exploitation of its critical mineral resources, supporting its goal to increase mining sector contributions to GDP by 10% by 2025.
Last April, the government signed contracts totaling $667 million with three Australian companies to mine graphite and rare earths and is seeking to strengthen engagement with Australian service firms in the provision of mining, machinery, and technology services.
Meanwhile, the US announced plans last March to boost bilateral trade and investment with Tanzania, recently signing a $500-million trade deal to enable the export of goods and services in infrastructure, energy security, and power generation, among other strategic sectors.
The US is also supporting the construction of a mineral processing plant in Tanzania by LifeZone Metals, which will process and export battery-grade nickel to the US using low-emission technology from 2026.
Home to vast deposits of critical and industrial minerals, metallics, coal, uranium, and gemstones (including the indigenous tanzanite), Tanzania is an established mining market and the third-largest gold producer on the continent.
The mining sector accounts for more than half of the country’s total exports, a significant portion of which comes from gold, owing to world-class deposits around Lake Victoria.
As a result, opportunities for mining investors span the entire value chain, from resource extraction to the processing of precious metals and gemstones, production of iron ore and steel, and increased electrification of mining regions.
In addition to its mineral abundance, Tanzania features a geostrategic location with direct trade routes to Asia and six landlocked East African countries, along with a stable operating environment supported by its admission to the Extractive Industries Transparency Initiative.
CMA 2023 will explore the potential of Tanzania to become a regional leader in the critical minerals market and connect investors and project developers with the country’s top prospects.
Business
Lawmaker Donates N70 Million To Farmers In Ebonyi
The member representing Ikwo/Ezza South federal constituency, Hon Chinedu Ogah has distributed a cash grant of N70 million and 200 bags of 25kg rice seeds to rural farmers in the constituency to ensure food sufficiency and end hunger in the area.
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Hon Ogah who is the House Committee chairman on Reformatory Institutions said that he has also procured 30 bags of fertilizers to be distributed to the rural farmers in the constituency to ensure a bumper harvest.
The lawmaker who made the distribution at the Edukwu-Edu playground in Item Amagu Community in Ikwo local government area of the state said that the rice seeds will be distributed to the 31 wards in the constituency.
Hon Ogah said that the rice seeds are not for consumption but for planting and warned the farmers against consuming the rice seeds.
“Let me sound a note of warning that the seeds are only for planting; it is not for consumption. Please no matter the level of hunger, don’t cook it to eat,” he said.
He maintained that to end the high cost of food items and commodities in the country, there is the need for all to go into farming.
“The small farm or garden in our backward and compound can provide some of the food items we purchase from the market. There is the need for us to go into farming,” he stated.
Business
NEMA Distributes Grains To Vulnerable In Kebbi
Director-general of the National Emergency Management Agency (NEMA), Zubaida Umar has distributed assorted grains from the federal government to the people of Kebbi State.
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While distributing the grains yesterday at Bulasa government grains stores in Birnin Kebbi alongside with Governor Idris the DG NEMA, Zubaida Umar said the gesture from the federal government was aimed at reducing poverty amongst the less privileged in Kebbi State.
Umar added that the grains would be distributed across the 21 local government areas of the state to the vulnerable persons in the grassroots.
Governor Nasir Idris while commending the federal government for the gesture said, the initiative underscored the government’s commitment in supporting those in need especially in this challenging time.
He said the gesture is an act of kindness and generosity of APC led-administration towards making a real difference by impacting the lives of those facing hardship and uncertainty in the state.
“I would like to express my heartfelt gratitude to the federal government under the able leadership of our dear President Asiwaju Bola Ahmed Tinubu for his swift response and unwavering commitment in providing relief to the most vulnerable members of our society,” he added.
Business
NNPCL Committed To Nasarawa Oil, Gas Initiative – Kyari
Nigerian National Petroleum Company Limited (NNPCL) has said it is committed to partnering with the Nasarawa State government in the area of oil and gas development.
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The group managing director of NNPCL, Engr. Mele Kyari, who disclosed this during the second day of the Nasarawa Investment Summit yesterday in Lafia, said Nasarawa is blessed with substantial natural gas reserves.
Represented by the executive vice president (Gas and Power), Olalekan Oguleye, the NNPC boss said the state has the potential to power industrialization that would drive economic growth to improve the lives of its citizens.
He noted that the company is more than willing for further collaboration that will unlock the full potential of the state’s natural resources for the benefit of the state and the country at large.
Kyari appreciated the bold steps the state government has taken towards building its economy in the area of solid mineral and energy.
He said the state has become a home not just for mineral resources but also for agriculture and energy.
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