Tanzania secured targeted partnership commitments from Australia and a strategic endorsement from the World Bank during the 2026 Mining Indaba in Cape Town, capping a four-day engagement that reinforced the country's standing as one of Africa's most sought-after mining investment destinations.

Minerals Minister Anthony Mavunde led Tanzania's delegation through a series of bilateral meetings on the sidelines of the February 9-12 conference. The highest-profile engagement came with Australia, whose Deputy Ambassador Christopher Ellinger stated that Tanzania is "a top choice for Australian companies" and confirmed readiness to partner on mining development projects. The Australian delegation also sought clarification on mining regulations concerning Tanzanian participation in mine services, signalling that commercial due diligence is advancing toward concrete project commitments.

Separately, the World Bank recognised Tanzania's mining sector as a strategic hub for African investment, endorsing the government's plans to expand exploration, fund geoscientific research, and promote local value addition over raw mineral exports. Mavunde also met with South Africa's Plantcor Mining among other prospective investors during the event, and participated in the SADC Ministers of Mining session.

The Indaba engagement aligns with Tanzania's ambitious mining expansion targets. The government aims to more than double annual foreign direct investment to $15 billion and expand mineral exploration coverage from 16% to 50% of its territory by 2030 under the "Tanzania Mining Vision 2030" strategy. Mining's contribution to GDP has already risen from 3.5% to 4.8%, with gold exports accounting for over 55% of total exports at an estimated $4.4-4.7 billion in 2025. The sector supports over 19,000 direct jobs, 97% of which are held by Tanzanian nationals, while local companies sold approximately $1.48 billion in goods and services to mining operations.

Major projects underpinning investor interest include Barrick Gold's Geita mine, which invested over $500 million in the first half of 2025 alone, Lifezone Metals' Kabanga nickel deposit, and a new nickel and copper processing plant in the Bahi District of Dodoma now at 85% completion. The Ministry of Minerals said the Indaba outcomes "underscore mining's importance to Tanzania's development agenda and its appeal to international stakeholders."