editor
Mining Sector Contributes Over 80% of Mineral, Oil, and Natural Gas Revenues
Acting Executive Secretary of the Tanzania Extractive Industries Transparency Initiative (TEITI), Mariam Mgaya, has highlighted that Tanzania’s mining sector operates with transparency and accountability to meet international standards (EITI Standard, 2023).
She made these remarks today, July 10, 2024, during her visit to the Ministry of Minerals and its agencies’ booth at the 48th Dar es Salaam International Trade Fair (DITF), known as Sabasaba, held at the Mwalimu Nyerere grounds in Dar es Salaam.
Mariam noted that the recently published 14th Fiscal Year 2021/2022 report in June 2024 demonstrates compliance with the international EITI requirements, comparing payments from mining, oil, and gas companies with government revenues.
“From this report, you can see that companies like North Mara Gold Mine Limited and Geita Gold Mining Limited significantly contribute to government revenues, accounting for 40.89% and 19.94% respectively. Overall, the mining sector contributed 80.21% of all government revenues from mineral, oil, and gas resources for the Fiscal Year 2021/22,” Mariam stated.
Also Read: Mavunde Unveils State-of-the-Art Growth For Minerals Ministry
The Acting Executive Secretary emphasized Tanzania’s commitment to ensuring transparency and accountability in the management of mineral, oil, and natural gas resources, aiming to reduce corruption, monopolies, and misappropriation of public assets.
She stressed that TEITI reports are publicly available and accessible on the TEITI website at www.teiti.go.tz. This accessibility provides an opportunity for citizens to access official information on their resources and provide specific feedback to enhance sector governance and accountability in the country.
The TEITI report launched on June 29, 2024, also covers the contributions of oil and gas companies, along with companies providing services in the drilling sector.
I love it when people come together and share opinions, great blog, keep it up.