The mining sector in Tanzania has some of the largest multinationals in the country. They include Golden Pride Mine from Australia, AngloGold Ashanti and Barrick Gold from Canada - they run about 4 major mining projects. Economic minerals produced in the country include gold, diamonds, coal, copper, silver, dimension stones, tanzanite and other varieties of gemstones. The contribution of the mining sector to the GDP is between 2.4% to 3%. The sector has huge potential in creating employment for the people of Tanzania and contributes immensely to domestic resource mobilization, for building schools, health facilities, water infrastructure, building roads and ending poverty among the people of Tanzania. The government uses tax incentives to attract multinational companies to invest in the mining sector. These are preferential tax treatments that are offered to multinational companies to reduce their tax liabilities while investing in the mining sector.
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