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Sunday, 10 June 2018

TANZANIA'S TOUGH MINING LAWS PAYING OFF

In the first quarter of 2018, some 30,953kg of gold was produced at the Acacia and Stamico mines in Tanzania.
Tanzania has realised a 1.3 per cent GDP growth from its mining sector, attributed to new stringent laws and regulations.

Mining now contributes around 4.8 per cent to the GDP, up from 3.5 per cent realised over the years.

Minerals Minister Angellah Kairuki on Thursday attributed the new growth to the government’s efforts to strengthen inspection and management of the sector and effectively restricting illegal trade in minerals.

“We aim for a larger piece of pie, at least 10 per cent of its contribution to the country’s GDP by 2025,” said Ms Kairuki.

In the first quarter of 2018, some 30,953kg of gold was produced at the Acacia mines of Bulyanhulu, Buzwagi, New Luika, North Mara and Geita, as well as Stamigold, a subsidiary of State Mining Corporation (Stamico). Another 2,021.4kg was produced by small-scale miners. In 2015, the miners’ total production stood at 38,000kg.

Some 248,083.94 carats of diamonds were produced by Williamson Diamond Ltd, Shinyanga, while El Hilal mines produced 43,285.31 carats. The same mines produced 191,407 carats in 2015.

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