Tanzania has inked three deals worth a total US$667 million to mine its graphite and rare earth mineral deposits.

The agreements will see Tanzanite get a 16% share of each of the three Australian-led projects, which are spread across the country, according to Reuters.

Palamagamba Kabudi, chairman of the government’s negotiating team, said Peak Rare Earths would mine rare earth minerals in Ngualla, south-western Tanzania.

Evolution Energy Minerals and Ecograf would both mine graphite in southern and eastern Tanzania, while Ecograf also had a graphite mining licence in northern Tanzania.

Rare earths are used in consumer electronics, electric vehicles, smart phones, renewable energy and military equipment, while graphite is used in lithium-ion batteries.

25 April 2023
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