Market News

 ACACIA Mining will comply with part of newly enacted legislation in Tanzania which increases revenue-based royalties to 6% from the previous levy of 4%.   The UK-listed gold producer said in an announcement today that the decision to pay the higher royalty, which is applicable on gold, . . .

 Whether his moves in the mining sector work or not, President Magufuli knows what he is doing.   Ever since his election in 2015, Tanzania's President John Magufuli has been a subject of public fascination. At first, his war on graft promised to cleanse the state of corruption, while hi . . .

Tanzanias Mining sector is booming. Tanzania is endowed with vast quantities and types of resources whose extraction has been central to the country’s economic growth. Mining is one of the leading sectors in Tanzania, with the value of mineral exports increasing each year. Leading minerals i . . .

Dar es Salaam — Gold has regained its prestigious position as Tanzania's largest non-traditional goods export, thanks to a rise in value at the global market, the central bank says.   The Bank of Tanzania (BoT) also indicates that there is an increase in volume of gold produced locally. . . .

Dar es Salaam — President John Magufuli has reiterated the ban on the exportation of mineral sands, and has directed the minister of Energy and Minerals, Prof Sospeter Muhongo, to ensure the ban is enforced.   President Magufuli said this during the launch of Goodwill Ceramic Limited, a . . .