Market News

 The Ministry of Energy and Mineral Development said the deposits were discovered and quantified following a series of recent airborne geophysical surveys. In its latest review of the country’s mineral sector, the ministry said the new ore reserves were discovered at Buhara (48mn tonnes) . . .

 The Board of Directors of the African Development Bank (AFDB) approved to grant USD 70.5 Million to finance the Tanzania Power Sector Reform and Governance Support Programme (PSRGSP).   The objective of the operation is to promote inclusive growth and enhanced economic competitiveness t . . .

    Kyerwa Tin Company Ltd., a subsidiary of Tanzania State Mining Corporation (Stamico) and Dar Gold DMCC Ltd of Dubai signed a tin mining trade agreement to uplift small scale tin mining industry of Kyerwa district.   The agreement was signed recently in Dar Es Salaam by the Act . . .

Acacia Mining plc (LSE: ACA) who operates three gold mines in Tanzania has announced in its First Quarter Results 2015 that its gold production has increased by 8%. Brad Gordon, Chief Executive Officer of Acacia Mining indicated that the company has delivered steady production over Q1 2015, with . . .

 The World Bank (WB) recently approved to grant USD 45 million to improve the socioeconomic impacts of Tanzania large and small-scale mining.   According to WB the financing would build on the success of the ongoing Sustainable Management of Mineral Resources Project (SMMRP), which is un . . .