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Tanzania Finalizing Permit For its First Rare-Earth Metals Mine

  • Government preparing licenses for Peak Resources, OreCorp
  • State targeting 33% jump in mining income over three years
Raw Ore At An Open-Pit Mine

Photographer: Bloomberg

Tanzania is in the final stages of approving a permit for the country’s first rare earths mine to Australian company Peak Resources Ltd. as the government seeks a bigger share of revenue from natural resources.

The state is also finalizing a gold-mining license for another Australian company, OreCorp Ltd. at the Nyanzaga project in the northwest of the country, according to Mining Minister Doto Biteko.