TANZANIA BANS GOLD AND COPPER ORE EXPORTs

Source: Cooperate Digest

The government of Tanzania has banned the export of gold and copper concentrate, prompting responses from London's miners operating in the country.

The country’s ministry of energy and minerals said the ban which also covers, copper, nickel and silver ores would take effect immediately.

“The ban intends to make sure that mineral value-addition activities are carried out within Tanzania,” the government said in a statement.

Like other resource-rich nations, Tanzania wants to make sure that raw materials produced from its mines are also processed in the country.

At this stage, the leading gold producer in the East African nation, Acacia Mining, has ceased exports of gold/copper concentrate and is urgently seeking further clarification from the ministry of energy and minerals.

 Acacia said it is "urgently seeking clarification" on the situation as exports represented 30 percent of its annual revenue in 2016, at around $316.0 million of Acacia's total revenue of $1.05 billion.

The miner, which has all of its producing operations in the country, said it will provide further details as appropriate.

Later Friday, Shanta Gold Ltd released its own statement concerning the ban, clarifying that it does not currently produce or export concentrate. The miner exports gold ore and therefore will be unaffected by the government's decision.

Shanta has its three key operations in Tanzania, including the flagship New Luika gold mine.

| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 |



We Will support Ghana To fight Galamsey -- Chinese Ambassador

  1. China has made yet another strong commitment to help the government of Ghana to control the menace of illegal mining properly referred to as galamsey. A number of arable lands have been destroyed b…
  2. {read by 600 people}


Wall around tanzanite mines has started paying off

  1. Tanzania has recorded increased revenues from sales of tanzanite, which authorities attribute to the 24km perimeter wall surrounding the mines in Mirerani in the northern Manyara Region, constructed i…
  2. {read by 590 people}


Tarime suspends small scale mining in Kibaga

  1. According to the Tarime District Commissioner, Glorious Luoga, the mine will remain closed for unspecified period pending an ongoing investigations under the district safety and security committee fin…
  2. {read by 625 people}


Congo miners buying cobalt from artisanal operators to balance market

  1. Despite calls for increased transparency along the cobalt supply chain to avoid alleged human rights violations in the Democratic Republic of Congo, the activity continues to escalate, with as many as…
  2. {read by 779 people}


NBC managers pledge to graduate artisanal miners into mining companies

  1. NBC's Head of Small and Medium size Enterprises (SMEs) Evance Luhimbo said in Geita town where an inaugural Mining Technology Exhibition is underway this week that the Dar es Salaam based bank is read…
  2. {read by 861 people}


Inter-Ministerial Committee On Illegal Mining To Vet Registered Artisanal & Small-scale Miners

  1. The Inter-Ministerial Committee on Illegal Mining is set to vet all registered artisanal and small-scale miners across the country in a bid to regularise their future activities before it makes recomm…
  2. {read by 1011 people}



khjg