7 mining companies driving Tanzania’s mineral wealth

Tanzania has emerged as one of Africa’s fastest-growing mining destinations, fueled by abundant reserves of gold, diamonds, tanzanite, nickel, graphite, and other strategic minerals that continue to attract billions of dollars in foreign and domestic investment.

Supported by mining sector reforms, expanding exploration activities, and rising global demand for critical minerals, the industry has become a major driver of economic growth, exports, employment, and infrastructure development.

From multinational gold producers to state-backed enterprises and locally owned mining contractors, several companies are shaping Tanzania’s position as a leading mining powerhouse in East Africa.

Their investments in production, technology, mineral processing, and community development are strengthening the country’s competitiveness while supporting long-term sustainable growth across the mining value chain.

Here are the 7 mining companies driving Tanzania’s mineral wealth, each playing a pivotal role in expanding the country’s global mining footprint and unlocking the full potential of its vast natural resources.

Geita Gold Mining Ltd (AngloGold Ashanti)

Geita Gold Mining Ltd. (GGML), the flagship Tanzanian operation of AngloGold Ashanti, remains one of Africa’s leading gold mining assets and the country’s largest gold producer.

Located in the prolific Lake Victoria Goldfields near Mwanza, the mine combines open-pit and underground operations while supporting more than 7,500 jobs. In 2025, AngloGold Ashanti produced 3.09 million ounces of gold and 3.70 million ounces of silver, benefiting from record gold prices that lifted free cash flow 204% to $2.9 billion.

The company also declared a record $1.8 billion dividend and ended the year with 68.0 million ounces of Measured and Indicated Mineral Resources and 36.5 million ounces of Mineral Reserves, reinforcing its long-term growth strategy.

Twiga Minerals Corporation (Barrick Gold)

Founded in 2020, Twiga Minerals Corporation is a landmark 50:50 partnership between the Tanzanian government and Barrick Gold Corporation, created to resolve a long-running tax dispute and strengthen Tanzania’s mining sector.

Headquartered in Mwanza, the joint venture manages the high-producing North Mara and Bulyanhulu gold mines, which together produce more than 500,000 ounces of gold annually, while the Buzwagi mine is in closure after reaching the end of its operational life.

The structure also grants the government a 16% equity stake in each mine. Twiga has contributed more than $2.8 billion to Tanzania’s economy through taxes, dividends, salaries, and local procurement, with most supplier spending directed to indigenous Tanzanian businesses.

Shanta Mining Company Ltd

Shanta Mining Company Ltd, the Tanzanian operating arm of Shanta Gold, is one of East Africa’s leading gold producers, with flagship operations at the New Luika and Singida gold mines.

Since becoming part of Saturn Resources following its £156.1 million ($209 million) acquisition in 2024, the company has strengthened its position in Tanzania’s fast-growing mining sector. Headquartered in Dar es Salaam, Shanta also manages high-potential gold exploration projects in Kenya’s Lake Victoria Greenstone Belt, reinforcing its regional growth strategy.

Backed by strong gold production and ongoing mineral exploration, the company remains a key contributor to East Africa’s mining investment landscape, while its community engagement and land acquisition practices continue to attract attention from industry stakeholders.

Williamson Diamonds Ltd

Williamson Diamonds Limited operates one of Tanzania’s most valuable diamond mines in the Shinyanga Region, home to the globally recognized Mwadui kimberlite deposit and its exceptionally rare pink diamonds.

Discovered in 1940, the open-pit mine remains a key contributor to Africa’s diamond industry, producing about 50,000 carats per mining cycle. 

In 2025, Tanzanian company Pink Diamonds Investments, part of Taifa Group, acquired full ownership from Petra Diamonds in partnership with the Tanzanian government, marking a new era of local control.

International sales of the mine’s premium rough diamonds, including high-grade white stones and sought-after “bubblegum” pink diamonds,continue to be managed through Bonas Group’s global tender platform.

TanzaniteOne Mining Ltd

TanzaniteOne Mining Ltd remains one of Tanzania’s most influential gemstone producers, operating Block C in the Merelani Hills near Arusha—the world’s only known source of tanzanite.

Since acquiring the mine in 2004, the company has undergone multiple ownership changes, regulatory reviews, and government interventions that have reshaped its operations.

Despite disputes over royalties, labor obligations, and compliance with mining regulations, TanzaniteOne has retained its position as a key player in Tanzania’s mining sector.

The company is recognized for its advanced underground mining technology, large-scale gemstone processing, and contribution to the global luxury jewelry supply chain, reinforcing Tanzania’s status as the exclusive home of the rare blue-violet gemstone.

Stamigold (State Mining Corporation – STAMICO)

STAMIGOLD, the flagship mining subsidiary of Tanzania’s State Mining Corporation (STAMICO), is strengthening the country’s position as one of Africa’s leading gold producers.

Operating the Biharamulo Gold Mine in the Kagera Region, the company has expanded gold reserves by more than 100,000 ounces, extending production through 2032.

Beyond gold mining, STAMICO is investing in mineral processing, a modern gold refinery in Mwanza, artisanal mining development, and eco-friendly Rafiki Briquettes, supporting Tanzania’s sustainable mining strategy.

The government is also preparing STAMIGOLD for a listing on the Dar es Salaam Stock Exchange, creating new investment opportunities while advancing the country’s mining, economic growth, and resource development agenda.

Caspian Limited

Founded in 1987, Caspian Limited has grown into Tanzania’s largest locally owned mining contractor and civil engineering company.

Headquartered in Dar es Salaam, the firm delivers contract mining, heavy earthmoving, drilling, and infrastructure services across East Africa, supported by a fleet of advanced heavy equipment and more than 2,000 employees.

Founded by Tanzanian entrepreneur Akram Aziz, Caspian has become a trusted partner for large-scale mining and construction projects, operating high-capacity excavators, dump trucks, and modern drill rigs.

The company is part of the influential Aziz family’s diversified business portfolio, with strategic links to billionaire Rostam Aziz’s investments spanning mining, energy, and telecommunications, reinforcing its role in Tanzania’s industrial growth.