Government-controlled trading centres set up in Tanzania to curb rampant gold smuggling
A bulldozer moves rubble as a villager searches for gold in waste rock at a mine operated by Barrick Gold in Nyangoto, Tanzania. Picture: BLOOMBERG/TREVOR SNAPP
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. Small-scale miners produce about 20 tonnes of gold a year in Tanzania, but an estimated 90% of the output is illegally exported, according to a report by a parliamentary committee.
In 2017, the government passed laws that the industry complained would be costly and onerous. Among other things, the laws hike taxes on mineral exports, mandate a higher government stake in some mining operations and force the construction of local smelters, a move some companies said was uneconomic.
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