Tanzania trading centres to curb gold smuggling
The new centres will give small-scale miners, which currently illegally export 90% of their output, access to the formal market
Dar es Salaam — Tanzania has ordered all mineral-producing regions in the East African nation to set up government-controlled trading centres by the end of June, accelerating efforts to curb illegal exports of gold and other precious minerals. The trading centres will give small-scale miners direct access to a formal, regulated market where they can go and directly trade their gold. They currently struggle to access formal gold dealers who mostly based in the capital Dar es Salam and major towns. A statement from the prime minister’s office said the first mineral trading centre was inaugurated in the northwestern town of Geita on Sunday, close to the country’s biggest gold mine owned by SA’s AngloGold Ashanti. “All mineral-producing regions should set up these trading centres as soon as possible to serve small miners,” the statement quoted Prime Minister Kassim Majaliwa as saying while commissioning the centre in Geita. The Geita centre would serve as a model for others, the stateme...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.