Africa’s fourth largest exporter of gold, Tanzania, saw its gold exports rise by 42% year-on-year last November.
This is after the Bank of Tanzania confirmed that an increased focus on the mining industry had helped to expand the country’s mineral export market from $1.5 billion in November 2018 to $2.1 billion for the same period in 2019.
The bank said that that the volume increase in part stems from government initiatives to manage the East African nation’s mining activities.
Assisted by increased prices and volumes shipped, Tanzania will look to further grow its gold exports sector in 2020, competing with giant gold producers in South Africa, Ghana and Mali.
According to the bank, Tanzania experienced steady growth in gold exports throughout the year, rising by 12% year-on-year to $9.53 billion. – Bjorn Vorster
