Market News

 The latest squabble between the Tanzanian government and its mining sector has led President Magufuli to request the central bank to purchase precious stones, in an attempt to boost the nation’s reserves. This is the latest in the escalating row between the two, over alleged tax evasion . . .

 There has been positive news from the Buzwagi Processing Trial. It was revealed that the mine wil be able to recover approximately 85 per cent of gold recoveries through the use of reagents at minimal secondary costs.   An extra 8000-10000 ounces of gold will now be available for sale f . . .

 Barrick Gold Corp, the world's largest gold miner by production, reported better-than-expected quarterly earnings on Wednesday as its mining costs fell and said it would begin talks with the Tanzanian government next week about an export ban.   Barrick subsidiary Acacia Mining has three . . .

 Kibo Mining PLC (LON:KIBO) told investors it has concluded a “very successful” second round of follow-up meetings with Tanzanian government departments and Tanzanian stakeholders regarding the proposed Mbeya Coal to Power Project (MCPP).   The company noted that the completi . . .

 Tanzanians should prepare to reap more benefits from the mining sector now that the government plans to amend the Mining Act, 2010 in a bid to accommodate regulations that will enforce local content.   The move by the government will see more locals benefitting from the inflow of Foreig . . .