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Tanzania has officially launched a $1.2 billion uranium mining and processing project in partnership with Russia’s state-owned nuclear energy giant, Rosatom.
It is one of the largest foreign investments in Tanzania’s mining sector.
The uranium mine is located in the Mkuju River area of the Namtumbo District in the southern region of Ruvuma.
It is expected to create over 4,000 direct jobs and more than 100,000 indirect opportunities across sectors such as logistics, energy, and infrastructure.
Tanzania’s Mkuju River deposit holds an estimated 58,500 tonnes of uranium reserves.
When fully operational, the uranium mine will produce up to 3,000 tonnes of uranium annually over a 22-year lifespan.
This would take Tanzania to the top 10 uranium producers in the world.
