TANZANIA TO REAP BIG FROM NICKEL DEPOSITS

Tanzania will finally start reaping from the world's largest nickel deposits following the issuance of a mining license to Tembo Nickel Corporation yesterday to begin the mining project that would see the country earn 7.5 billion US dollars (about TShs. 17.5 trillion) during the execution.

Based in North West Tanzania, the nickel deposit project comprises of an on-site mineral resource of 58 million tonnes including over 1.52 million tonnes of nickel, a crucial material used in the manufacture of electric vehicles.

According to the Minerals Minister, Dotto Biteko, the project would also offer 978 direct jobs to Tanzanians when Tembo Nickel Corporation starts the project with 412 million US dollars.

The Tembo Nickel Corporation is a joint venture company where the Government owns 51 per cent shares while the United Kingdom mining company, Kabanga Nickel has 49 per cent shares.

Continue Reading > > >