Tanzania’s first gold refinery is set to be completed in the Dodoma in the next six weeks. Tanzania is Africa’s fourth-largest gold producer but has been exporting raw gold for decades. Once completed, it will be able to export the refined product which is expected to give a big boost to Tanzania’s earning from gold and also create job opportunities for the locals. The first trial is set for October 25. Eyes of Africa Ltd, a Serbian mining company owns the refinery. According to Prince Mgisha, the chief operating officer of the holding company, the plant will cost $15 million and has the capacity to process raw gold produced from over 19 regions in Tanzania and even neighboring countries such as the Democratic Republic of Congo.
Tanzania’s Minister for Minerals Dotto Biteko, said that once operation begins, the country will be able to establish a national gold reserve as called for in the Mining Act.
The Bank of Tanzania plans to run a gold reserve. The government also set up 28 mineral trading centers since March this year. almost $60 million worth of gold has been traded through the centers with the government collecting $3 million royalty and clearance fees. Small-scale miners account for around 20 tonnes of gold production per year in the country. However, 90 percent is reportedly, illegally exported.
Meanwhile, the Tanzanian government is taking strict actions against mining companies which do not adhere to section 18 of the country’s Mining Act of 2010 (and revised in 2017), which requires all producers pay royalty fees on the gross value of minerals produced
