By Mutayoba Arbogast
In the heart of Dodoma, where Tanzania’s economic ambitions increasingly intersect with its vast mineral wealth, Deputy Minister for Minerals Dr. Steven Kiruswa delivered a firm message on May 13, 2026: Mantra Tanzania Limited must move swiftly to launch uranium production at the long-awaited Mkuju River project.
Speaking during a high-level meeting with company executives, Dr. Kiruswa stressed that Tanzania could no longer afford prolonged delays on a project widely viewed as strategic to the country’s mining future and broader industrial transformation.
“For the people of Namtumbo and the nation at large, this project represents opportunity, employment and long-term economic growth,” he said, urging the company to accelerate financing and implementation efforts.
His remarks carried the weight of a project closely tied to President Samia Suluhu Hassan’s vision for expanding Tanzania’s extractive sector and attracting large-scale investment. In July 2025, President Samia officially launched construction of Mantra’s uranium processing pilot plant, describing it as a landmark step toward positioning Tanzania as a significant player in the global uranium market.
Dr. Kiruswa reaffirmed the government’s commitment to the project, assuring the company that authorities remained supportive of its operations and investment plans. At the same time, he emphasized the need for urgency in securing financing and advancing toward commercial production.
The Mkuju River project, located in the resource-rich Ruvuma Region, has long been viewed as one of Tanzania’s most consequential mining developments. Beyond its strategic importance, officials see it as a catalyst for regional development through employment, infrastructure expansion and local business opportunities.
Mantra Tanzania Chief Executive Officer Ilya Shchukin said the company was making progress toward securing capital for the project. Negotiations, he revealed, are ongoing with Russian financial institutions as well as Tanzanian banks including CRDB and NMB.
However, financing challenges remain significant.
According to Shchukin, the project’s current mining license expiry date in April 2028 has created uncertainty among potential lenders reluctant to commit to long-term financing arrangements without assurances over license continuity.
“The financing institutions want certainty and long-term stability before committing substantial capital to the mine and processing infrastructure,” he explained.
Despite the hurdles, Mantra says the economic potential of the project remains transformative. Once operational, the mine is expected to create more than 4,000 direct jobs, particularly benefiting communities in Namtumbo District and surrounding areas.
Company officials estimate that over 21,000 households could benefit indirectly through supply chains, logistics, services and other economic activities linked to the project. In a country where youth unemployment remains a pressing concern, the project is increasingly being framed as a major source of future livelihoods and regional economic stimulation.
Beyond mining operations, Mantra highlighted its ongoing investments in social development initiatives within nearby communities. These include programs supporting education, healthcare, women’s empowerment, youth development, environmental protection and local infrastructure improvements.
Majani Wambura, the company’s Manager for Social and Sustainable Relations, emphasized that renewal of the mining license would play a critical role in unlocking investor confidence and accelerating access to project financing.
“This will significantly strengthen discussions with financial institutions and development partners,” Wambura said.
If fully developed, the Mkuju River project is projected to produce approximately 3,000 tons of uranium annually, potentially placing Tanzania among Africa’s leading uranium producers while contributing to growing global demand for nuclear energy resources.
Mantra Tanzania operates as a subsidiary of Uranium One Group, itself part of Russia’s state nuclear corporation Rosatom, bringing together international technical expertise and Tanzania’s ambitions to maximize value from its natural resources.
For Tanzanian authorities, the project is about more than uranium alone. It represents a test case for the country’s ability to convert large-scale mineral discoveries into tangible economic transformation, jobs and long-term investor confidence.
As negotiations over financing and licensing continue, attention now turns to whether Mantra can capitalize on the current momentum and finally move the Mkuju River project from promise to production.
