Browsing: gold

Eastern Africa’s export performance has been buoyed by increases in key commodity prices such as gold, coffee and tea at…

As more countries choose gold over dollar for national reserve, Tanzania is requiring all miners to remit 20% of their gold…

Tanzania is growing its national gold reserve as a smart move to counter USD shortage. Already, the country lags behind…

Tanzania is Africa’s fourth-largest gold producer and ranks 18 in the world. The country is ramping up production of the…

Global economic trends, such as interest rate changes, inflation, and geopolitical uncertainties, significantly impact gold-backed financing products. Some financial products…

The mining industry in Tanzania holds a unique position as one of the most financially rewarding sectors, consistently generating foreign currency. Beyond its economic significance, this sector also wields considerable political influence within the nation. Therefore, a recent multi-million-dollar agreement forged with Australia and the US for the extraction and processing of critical minerals positions Tanzania advantageously as it prepares to participate in the forthcoming Critical Minerals Summit 2023.

In May 2023, Zimbabwe released a gold-backed digital currency for peer-to-peer and business transactions. It acted as a store of value as the Zimbabwean dollar continued its steep depreciation. International gold prices controlled by the London Bullion Market Association will dictate the local pricing of Zimbabwe’s digital currency tokens.

Corruption, inadequate mining laws, and crackdowns on artisanal gold miners are fueling trade in conflict minerals. Cut-throat competition for control…

Tanzania will start purchasing gold through the Bank of Tanzania (BoT) with a view to establishing a National Gold Reserve.…

Riozim Limited the Zimbabwe based, and Zimbabwe Stock Exchange-listed diversified miner, has more going wrong for it than right. For…