TANZANIA is participating in the second strategic minerals production conference of ministers to discuss the means to build a conscious global mineral sector that meets the increasing demand for strategic minerals.
According to a statement issued on Monday, Tanzania is represented by the Deputy Minister for Minerals, Dr Steven Kiruswa where he has joined other ministers of minerals from Africa, the Middle East and Asian countries.
The statement shows that the conference of the ministers responsible for minerals began yesterday and will take three days in Riyadh, Saudi Arabia.
Sixty countries, represented by 40 ministers and 18 high-level officials, will participate in the meeting, along with 10 regional and international organizations.
The three days of the conference are expected to emphasise the importance of cooperation between the government, nations and stakeholders, which is fundamental to the sustainable development of strategic minerals for the benefit of the relevant community.
The statement shows that the conference will also discuss the agenda of how the production of strategic minerals will be able to build the economy of the respective countries without polluting the environment through new technologies such as the production of electric vehicles, rechargeable batteries, and renewable energy.
Also, the conference is discussing the agenda regarding the increasing need for strategic minerals in the world and how to cooperate in using the available opportunities so that the minerals that are produced for productivity and the benefit of the respective countries, their citizens, domestic and foreign investors.
The second conference, convened by the Kingdom of Saudi Arabia is also discussing and finding solutions on challenges and look for opportunities that exist, with stakeholders collaborating through the use of new technology to produce strategic minerals that will contribute to reducing the effects of climate change.
Dr Kiruswa is accompanied by mining experts from the Ministry of Mines in Tanzania who participate in the conference. It is estimated that the future will depend heavily on mineral resources, such as nickel, aluminium, copper, lithium, cobalt, and rare earth metals. According to the World Bank estimates, the production of strategic minerals could increase by up to 500 per cent by 2050, due to the rise in demand for minerals used in renewable energy and electric vehicles.
Moreover, to achieve the target to reduce global temperatures well below 2°C, the World Bank estimates that more than 3 billion tonnes of minerals and metals will be needed. Studies show that between 2020 and 2040, the demand for lithium will grow rapidly and is expected to increase 42 times.
In addition, achieving net zero emissions by 2050 will require a significant increase in mineral production.