Browsing: STAMIGOLD

The extractive industry in Tanzania is prone to substantial operational and management changes.

Since President John Magufuli took leadership, several mining sector advancements have been made in the course of 3 years, proving billions in return at a rather intriguing socio-political cost.

The latter can be reflected, in a recent development ushered by Ministry of Mining (on September 19^th 2019) directing all gold produced from Biharamulo gold mine, operated by STAMIGOLD company a subsidiary of the State Mining Cooperation (STAMICO), to be sold within Tanzania, primarily in the newly established Biharamulo gold market, by December 2019.

During the first quarter in 2019, the mining sector saw a 10 per cent growth, which was attributed by increased gold production.

However, the mining industry contributed over 5.07 per cent to Gross Domestic Product (GDP) by 2018, this being a significant increment attributed by the ongoing reformation in the sector, compelling wider …