Monday, 5th December 2005 (2929 views)

Tanzania opens first refinery

Tanzania has opened its first gold refinery in Dar es Salaam, which it hopes will bolster trade in its jewellery and mining sectors.

At the official opening of the Mwananchi Gold Company, the deputy minister for Energy and Minerals, Dr Ibrahim Msabaha, called it a bold statement that would help the country to expand its mining industry.

The refinery will process gold and will also trade in jewellery.

Officials said that small-scale miners would be the main beneficiaries, although commercial miners may be invited to use the facilities in the future.

The refinery is aimed at giving small-scale miners more independence and protecting them from unscrupulous middlemen.

It is also hoped that the refinery will help create more jobs in the sector, which miners have collectively invested $2.5 billion in since 1995.

Tanzania's gold industry has experienced rapid growth, with production and export of the precious metal rising from three tonnes in 1995 to an estimated 50 tonnes this year.

Tanzania is currently Africa's third largest gold miner.

 

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