The Tanzanian mining sector is expected to cushion the country’s economy against the current global economic slump due to its strong showing in the gold sector. A top line-up of speakers will address prospective investors on opportunities in sectors such as mining in Tanzania and the East African Community during the Infrastructure Partnerships for African Development (iPAD) East Africa from 11-13 August 2009 in Dar Es Salaam, Tanzania.
The Secretary General of the East African Community (EAC), Ambassador Dr Juma Mwapachu, will chair the keynote session and another top government participant will be His Excellency Mr William Ngeleja, Minister of Energy and Minerals, Tanzania.
Tanzania is the biggest of the East Africa countries (i.e. Kenya, Uganda and Tanzania) and offers tremendous opportunities for investors as it is endowed with abundance of natural resources such as arable land, a wide base for raw materials supply from local source; political stability, good market policy, excellent geographical location in the East African region and excellent tourist attractions.
Tanzania’s minerals boom has grown fast, with gold production leading the exports. Tanzania has come a long way with over 10 years of vigorous performance of eight large mining firms, making it one of the stable economic powers of the continent and the third largest gold producer in Africa after Ghana and South Africa.
The country is expecting to have new mining legislation in place in the course of 2009 and the Minister of Energy and Minerals has confirmed that the new law will not affect existing mining operators, but ownership rules and the rates of royalty paid on minerals are due to change.
The sector accounts for 52% of the national export which is approximately $2.40-billion of the $4,61-billion Tanzania exports in 2008.
During the current economic downturn the Tanzanian mining sector is likely to decrease on revenues due to the falling prices of diamond and tanzanite. However, an expected increase in the gold price should help the economy survive the effects of the economic slump.
It is in this context that iPAD East Africa comes to Tanzania. Partnerships between government and the private sector are critical to the economic growth of the region and iPAD East Africa will bring the decision makers to the table, from a cross section of infrastructure verticals.
This 3-day event provides a forum for government and business to meet and explore opportunities for developing and investing in the infrastructure of Tanzania and greater East Africa.
The East African Power Industry Convention (EAPIC) is already in its 11th year and forms part of iPAD East Africa. EAPIC aims to address crucial issues within the regional power sector and find solutions to enhance growth, productivity and profitability for business.
The iPAD series of events was established in 2005, during which international delegations attended iPAD events hosted in Angola, Kenya and the Democratic Republic of Congo. The goal is still to create a powerful and cost-effective source of knowledge to assist stakeholders – government, public and private sector, local and international investors - to strengthen their network and opportunities to build a valuable database of contacts and investigate investment opportunities in key sectors like power, mining, water, agriculture, transport, ICT/telecommunications, finance. iPAD East Africa website: www.ipad-africa.com/east
For more information please contact:
Conference producer: Nicole Smith
Phone: +27 21 700 3500 / 888 559 8017 (US)
Direct: +27 21 700 3522
Fax: +27 21 700 3501 / 413 487 6276 (US)