HomeEast AfricaTanzanian gold exports rocket

Tanzanian gold exports rocket

Barrick’s Bulyanhulu
gold mine in Tanzania
Dar es Salaam, Tanzania — MININGREVIEW.COM — 11 October 2010 – The value of gold exports from Tanzania “’ Africa’s fourth-largest producer of the precious metal “’ jumped 62% in the year to July because of increased output and a rally in global prices of the metal.

The East African nation’s earnings from gold sales rose to US$1.37 billion (R9.5 billion) in the twelve months to 31 July, the Bank of Tanzania central bank said in a report on its website. Tanzania sold 38.1 metric tonnes of gold, 31% more than a year earlier, the bank added.

“The rise in gold output was partly due to the June 2009 start of production at Barrick Gold Corporation’s fourth mine in the country, known as Buzwagi,” the bank said. ‘Earnings were also helped by world gold prices, which climbed by more than a quarter during the period,” it added.

Tanzania is Africa’s fourth-largest gold producer after South Africa, Ghana and Mali.

Meanwhile it’s reported from Lusaka that Zambia’s copper production will exceed 720 000 metric tonnes this year. This was confirmed by finance planning minister Situmbeko Musokotwane when he delivered his budget speech in the Zambian capital.