Hassan Magulumali
Tanzania’s small-scale miners are set to benefit from new opportunities in financing, modern equipment and advanced mining technology following plans by US-based Falcone Sovereign Wealth Fund Partnership Inc. to invest in the country through direct partnerships with local miners.
The investment initiative was discussed on August 4, 2026, during a meeting between the company’s executives and the Deputy Minister for Minerals, Dr. Steven Kiruswa, in Dar es Salaam.
Speaking during the meeting, Dr. Kiruswa welcomed the company’s decision to invest in Tanzania’s small-scale mining sector, describing it as a significant step toward empowering local miners and boosting the country’s economy.
He said supporting small-scale miners through increased investment would help improve productivity, create jobs and ensure that more of the wealth generated from mining activities remains within the country, contributing to sustainable economic growth.
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Dr. Kiruswa also emphasized that the company must conduct its operations in full compliance with Tanzania’s mining laws, regulations and government guidelines to ensure the investment delivers long-term benefits to both investors and local communities.
He noted that the Sixth Phase Government under President Samia Suluhu Hassan has continued to strengthen the investment climate by implementing business-friendly policies and legal reforms that encourage partnerships between domestic and international investors and Tanzania’s small-scale miners.
Meanwhile, Falcone Sovereign Wealth Fund Partnership Inc. Managing Director Nicholas Dalessandro said the company will begin implementing the investment programme by partnering with small-scale miners in Chunya District before expanding its operations to other mining areas across the country.
He added that the initiative aims to provide local miners with access to capital, modern mining equipment and innovative technologies that will improve productivity, enhance safety standards and increase the overall value of Tanzania’s mining sector.
