Thursday, 13th May 2004 (2658 views)

Gold exports played a key role in trade increases reported in Tanzania this week.

Results for the 2002/2003 financial year revealed that 1.5 million troy ounces of gold were mined by five key companies, worth over $350 million, according to The East African.

Following findings, the Tanzania Chamber of Mines forecasts that within the next two year $750 million worth of gold will be exported.

Mining has been boosted over the last 10 years in the area after government economic reforms were introduced to attract investors.

Most of Tanzania's gold is exported to the EU and the increase in exports has led to a strong balance of trade with the EU.

 

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