Tanzania’s state-owned National Development Corporation (NDC) has partnered with Chinese company Fujian Hexingwang Industrial Co. Ltd. to develop the Maganga Matitu iron ore project in the Njombe Region. The agreement, valued at $77.4 million, was formalized on Saturday in Dar es Salaam, with Deputy Prime Minister and Minister for Energy Doto Biteko present.
The Maganga Matitu project aims to produce sponge iron for the steel industry and is expected to contribute significantly to Tanzania’s economic growth through industrial development. The project, which spans 19.63 square kilometers, is part of the larger Liganga iron ore project located in the Ludewa District.
NDC Managing Director Nicolaus Shombe highlighted that this initiative is a major national project that will generate jobs and supply iron essential for various government infrastructure projects. The development of this iron ore project is anticipated to provide substantial economic benefits to the country.
