Tanzania has commissioned a new gold refinery in Mwanza as the country’s central bank mulls plans to start buying the precious metal.
Bloomberg quoted the Tanzanian President Samia Suluhu Hassan as saying in a televised speech that the Mwanza Precious Metal Refinery will have the capacity to process 480 kg of gold a day and this will double in a few months.
The State Mining Corporation has a 25% stake in the project, while Dubai-based Rozella General Trading and Singapore’s ACME Consultant Engineers own the rest.
Establishing the refinery is part of the government’s plan to add value locally from its resources.
Tanzania is Africa’s third-largest gold producer.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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