Indian mining company seeks billion-dollar investments

With effect from January of this year, the Ajay Mehta Company, based in India, plans to invest 156 million USD in the country mining industry.

Ajay Mehta, the company's owner, revealed to this newspaper in an interview that preparations are being made for business-to-business meetings with significant local players in the industry, particularly those engaged in coal and gold mining.
He claims that the company is planning a business trip to Dar es Salaam.
'We have made investments in several African nations, including Ethiopia, Togo, and Uganda, in the coal and gold industries. Now is the right time to make investments in Tanzania, thanks to the government's recent regulatory business reforms,' he said.
"Investor interest in Tanzania is a result of the regulatory and business reforms the government has so far noticed. More investments are encouraged by the infrastructure already in place, he said.
A number of Indian companies are lining up for investment destinations in the nation, according to Riyaz Akhtar Khan, the company's business coordinator in Tanzania.
He claimed that as part of its expansion strategy, UAE-based Ziba Precious Metals announced in June of this year that it would invest 50 million USD in a gold refinery in the Geita region.
Khan stated that the company had already started preliminary investment discussions with the appropriate government officials and that the refinery's construction would start as soon as the talks were concluded.
He mentioned that the proposed plant will initially process 120 tonnes per day and added that once operations get underway, more tailing resources will be found to enable the plant to run continuously.
He claimed that in order to obtain gold for its plant, the company is attempting to take advantage of the region's numerous small-scale miners.

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