The mining industry is one of the fastest growing markets in Tanzania. Tanzania mining industry contributes 8.5 percent to the country’s GDP with US$ 960m in 2017 compared to only 3.09% a value of US$ 880M in 2016. This rapid market growth indicates investiment is required for the entrepreneurs look attractive return on the investment.
If you are thinking to start a business in mining sector, then here are the business ideas and opportunities to exploit
If the mining industry interest you but don’t have substantial capital to join the business, then set up your brokerage business is the way to go. Your job as a broker is to link buyers and sellers and earn commission for each successful purchase as a result of your introduction. If you are trustworthy and reliable you can make huge money than you have ever imagined possible.
If you have expertise and experience in the mining industry, you can make living consult individuals and business seeking to venture into mining industry in Tanzania.
3.Mining training institute.
This is the smartest way to join the mining industry. You set up your mining training institute to deliver a wide range of courses to the mining workers. With the large of college students who are keen to break into the mining sector, your institute should focus on training students towards mining qualifications such as mineral process engineering, mining engineering, geology etc.
4. logistics and Transportation
Another great way to make money in the mining industry in Tanzania is engaging in the transportation of minerals and mining equipment from the mining sites to other places. Once you develop a good contact with the mining firms and stakeholders in the mining industry you will be amazed at the huge business.
5.Sales of Equipment
No doubt the mining business involve enormous equipment and tools, you can make money distributing this equipment and tools to the contractors and subcontractors in the mining sector.
You can make good money offering food and soft drinks to the workers in the mining companies. If you have a catering company consider to approach the mining companies and figure out the best way you can feed their employees.
You can venture into mining business by providing engineering services like maintenance services. Maintenace is the recurring services because all mining equipment needs regular maintenance to keep the equipment work smoothly. If you are business start out I will suggest you go for the maintenance services because are a recurring business in the mining industry and will keep you floating. If you don’t have background in engineering and this idea interest you, you can pull up resources by forming partnership with an engineer
With many mines operations run by equipment. The fact is most mining firms do not want to affect their working capital, so they decide to lease equipment rather than purchasing new equipment.If you have strong financial muscles you can buy and start renting to the miners in the country
9. Safety services
Safety is the slogan of the mining business. You can venture into the industry by offering safety training to the firms, distribution of the safety and personal protective equipment like gloves, safety boots etc.
If you have some writing skills you start the online portal or print magazine focusing on the mining news, trend in the mining industry, opportunities in the mining industry, jobs etc. Once you magazines attract many readers you will make money via advertising, sponsorship articles and so on.
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