The United Republic of Tanzania is becoming internationally renowned for its abundance of mineral deposits and already a prime destination of mining investment in Africa. It is Africa's third largest producer of gold after Ghana and South Africa. In terms of known deposits and potential, the country possesses substantial deposits of a wide variety of minerals including diamonds, gold base metals, gemstones and industrial minerals that include kaolin, phosphates, nickel, copper, soda ash, cobalt, tin coal etc.
Petroleum and gas: signs of oil seeps and bitumen have shown up in several areas. Significant gas discoveries have made on the coastal shores; commercial exploration for power generation began in 2004.
The country's minerals policy aim to attract, protect and facilitate the private sector in mineral exploration, mining and marketing. The mining Act (1998) guarantees investors' security of nature, repatriation of capital and profits and ensures a transparent regulatory and administrative system in the acquisition of mineral rights.
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