Algeria, January 23, 2019

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Tanzania set to allow export of gold and copper

JOHANNESBURG, SOUTH AFRICA (ADV) – The Tanzanian government is set to allow export of gold and copper concentrates, following the ban in 2017.

Deputy Minister for Minerals Stanislaus Nyongo, told the media that the government has already received a number offers from investors.

“We are working on a number of issues that investors requested before construction can begin,” said Nyongo.

He added that the government has received more than 20 offers from different mining firms. Nyongo further noted that the investors who have shown interests want assurance of availability of gold and copper concentrates for smelting.

Acacia Mining Plc in Tanzania said it was prepared to partner with the government to examine the possibility of viable smelting capability that provides employment and develops industry further.

“Technological developments may provide the key to this capability,” the company told the media.

In March 2017, President John Magufuli issued a ban on exports of unrefined metals, preventing Acacia from selling partially processed gold and copper concentrates.

According to Bank of Tanzania, the export value of gold was $1,494.1 million while overall non-traditional exports was $3,950.4 million in the year ending March 2017, before the export ban.

According to reports, President Magufuli now seeks more benefits for the country from its natural resources. Last week, he ordered the Mining Minister Dotto Biteko and his team to urgently work on the plan.

“We have put everything in place, from legal grounds to conducive environment for our miners,” the president told Biteko.

africandailyvoice



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