NAIROBI, June 9. /TASS/. Tanzanian President Samia Suluhu Hassan's official visit to Russia has provided fresh impetus to a uranium mine development project managed by Rosatom subsidiary Mantra Tanzania, Tanzanian Minerals Minister Anthony Mavunde said in an interview with The Citizen newspaper.
The Mkuju River project is valued at approximately $1.2 billion, according to the publication. The Russian state nuclear corporation suspended the project about a decade ago following a collapse in global uranium prices. However, recovering market conditions and strengthening ties between Tanzania and Russia have "breathed new life into this project," the paper noted.
The minister described the project as "a flagship investment not only for the mining sector but for the [country's] economy as a whole."
"The visit has given the project significant momentum. We expect to see major progress in a relatively short timeframe, as some preparatory stages have already been completed," Mavunde was quoted as saying.
The minister added that the parties have made substantial progress on the plan in recent weeks. Specifically, infrastructure construction tenders for the site have been launched. Mavunde expects that the facility will produce around 4,000 tonnes of uranium annually at full capacity, making Tanzania "the second-largest uranium producer in Africa after Namibia" and placing it "among the world's leading producers."
