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STAMICO and Korea’s KOMIR Sign Agreement to Develop Strategic Minerals in Tanzania

June 15, 2024
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Stamico of Tanzania and Komir of Korea signing MOU for cooperation in minerals

On June 4, 2024, Tanzania’s State Mining Corporation (STAMICO) signed a memorandum of understanding (MoU) with the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) to develop strategic mineral resources in Tanzania and exchange expertise.

The MoU was signed in Seoul, South Korea, between the CEO of STAMICO, Dr. Venance Mwasse, and the President and CEO of KOMIR, Mr. Hwang Kyu-Yearn, and was witnessed by the South Korean Minister of Trade, Industry, and Energy, Mr. Inkyo Cheong.

This three-year agreement will involve cooperation in the development of strategic minerals and the exchange of expertise.

Tanzania Investment Guide 2026 Free Edition

The agreement is a result of the long-standing relationship between the two countries and the official working visit of the President of Tanzania, Dr. Samia Suluhu Hassan, to Korea, on June 26, 2024.

During the signing ceremony, STAMICO’s CEO, Dr. Mwasse, stated that Tanzania and Korea aim to collaborate in research, investment, mining, and capacity building to add value to the strategic minerals found in Tanzania.

Through the signing of this MoU, there will be an impetus for research on strategic minerals such as graphite, lithium, nickel/cobalt, manganese, and others, as well as mining, processing, and the overall trade of minerals between the two countries.

Want to know more about Mining in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers Mining, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources, and is also available at no cost upon completion of a short form.

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