Mantra Tanzania Managing Director, Asa Mwaipopo
Presenting a paper on Tanzania’s uranium potential during the Tanzania mining, energy, oil, gas and infrastructure Indaba 2012 that kicked off in Arusha yesterday, he said that project will be a win-win situation to the company and the country at large.
The Mkuju River project will be regulated on the basis of the country’s 2010 Mining Act which among other things addresses the need to raise royalties, he said, noting that the project shall make Tanzania a leader in Africa and among the top 10 in the world for uranium mining.
Apart from diversifying the minerals sector, the project will generate direct and indirect cash flows to Tanzania in excess of $640 million over a period of 12 years and also attract FDI in Tanzania excess of $1 billion for the entire period in auxiliary investments, he said.
The project will be developed in accordance with set safety and environmental standards to ensure minimal risks when the mining starts, he stated.
He however said the biggest challenge for the company is to educate communities surrounding the project and the country at large on the benefits that may come along, helping to win public support.
Earlier, the deputy minister for the Energy portfolio, George Simbachawene, re-affirmed the government’s commitment to support the project because of its economic viability.
“We will go-ahead with mining uranium in areas proved to be with enough mineral resources. We can only consider not doing so if research indicates that mining of the mineral affects the eco-system.
“If for instance we get reports that there are enough mineral resources for instance at the AICC building where I am standing right now, we will have no option but to demolish AICC and go on with the project,” he said.
The three day event brought together key players in the mining industry, including ministerial agencies, company executives, various organisational heads and other interested groups.
SOURCE:
THE GUARDIAN
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