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A delegation of experts from South Korea met with officials from Tanzania’s Ministry of Minerals on July 19, 2024, to discuss investment opportunities in the strategic lithium mining sector in Tanzania.
Dr. AbdulRahman Mwanga, the Commissioner for Minerals, emphasized that current Tanzanian law mandates local processing and value addition of minerals. He highlighted that plans to add value to minerals domestically align with national interests.
Mr. Soo Hyun Byun, CEO of South Korean company Sonokong, stated that his company is ready to invest in the strategic lithium sector, from mining to value addition before exporting.
Mr. Byun noted that the investment would bring various opportunities, such as infrastructure development for the project area, technology transfer, and expanding investment and market avenues for mineral resources.
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Speaking on behalf of the Director-General of the State Mining Corporation (STAMICO), Mr. Fredrick Mangasini indicated that STAMICO is prepared to enter into an agreement with Sonokong to enhance investment in strategic minerals, particularly lithium, which currently holds significant value in the global science and technology sector.
Mangasini elaborated that STAMICO, in collaboration with the Geological Survey of Tanzania (GST), which possesses extensive mineral research data, will offer substantial support to facilitate this investment.
The discussions saw representation from the Geological Survey of Tanzania (GST), the State Mining Corporation (STAMICO), and the Mining Commission on the Tanzanian side.
SonoKong, headquartered in Seoul, was established in 1974 in South Korea. The company is engaged in the research, mining, and processing of lithium in Africa.
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