Tanzania's State Mining Corporation (STAMICO) is planning to establish three new mines, comprising two gold operations and one graphite facility, as part of efforts to expand mineral production and increase local involvement in the sector. The corporation's Managing Director, Dr Venance Mwasse, said preparations for the projects were underway, with exploration already progressing at the Kigosi gold project in Geita Region, which has now entered its third month of exploration work.
The expansion plans follow a major improvement in STAMICO's financial performance. The corporation's revenue increased from 1.3 billion shillings in the 2018/19 financial year to 147.8 billion shillings in 2025/26, according to Dr Mwasse. STAMICO currently operates three mines: Biharamulo Gold Mine in Kagera Region, Kabulo-Kiwira Coal Mine in Mbeya Region and Chigongwe gravel mine in Dodoma Region.
Beyond mining, STAMICO is diversifying into value addition and alternative energy production. The corporation has established five coal briquette facilities using coal from its Kiwira operations, with a larger plant completed and scheduled for inauguration later this month. An industrial park for construction aggregates is planned at Chigongwe, while a modern salt-processing facility has been established in Kilwa District, Lindi Region.
Dr Mwasse said the new investments form part of STAMICO's transformation programme, Make STAMICO Shine Again, which aims to improve performance and competitiveness. The corporation is also exploring a listing on the Dar es Salaam Stock Exchange to raise capital and broaden Tanzanian participation in ownership, though Dr Mwasse said the corporation must first strengthen existing projects and improve operational capacity to attract investors.