Tanzania

Country Overview

Over the past 15 years Tanzania has emerged as a rapidly developing economy with a stable multi-party democratic system of government. The establishment of mining legislation that provides security of tenure and a transparent, competitive fiscal regime for mine development, has positioned Tanzania as a leading contender for foreign investment in the African resource sector.

Gold has been the focus of most of the recent investment in the mineral sector, resulting in the development of three world-class operating mines.

The recent consolidating of the gold sector has increased interest in other precious and base metals in Tanzania. Increased exploration has led to discoveries of platinum and nickel.

The Tanzanian Government initiated nation-wide exploration for uranium in 1976 by commissioning a systematic one kilometre spaced airborne magnetic and radiometric survey of the whole country during the period 1976-1979. Despite the delineation of wide spread uranium anomalism and the discovery of uranium occurrences in a number of different geological settings, declining uranium prices and other pressures resulted in a world-wide cessation of uranium exploration.

The nation-wide radiometric survey now provides a valuable base of information to initiate new exploration in a period of rising uranium demand and prices. Uranex's current work represents the first time that there has been a systematic assessment of the uranium potential of Tanzania since 1982.

Tanzania complies with Uranex's country risk requirements. That is stable government, reasonable infrastructure, attractive fiscal regime and demonstrated geological prospectivity. In addition Tanzania has an established mining culture where several of the world's leading mining companies have substantially invested in projects that are now in production.