Browsing: Tanzania Mining Industry

bank of tanzania

The central bank of Tanzania (BoT) published its quarterly economic bulletin on Monday 8 February 2021 for the quarter ending December 2020, and it portrays rather satisfactory performance despite the coronavirus (COVID-19) shocks affecting the global economy.

The report pointed that, in the third quarter, the growth was at 4.5 per cent, leading to the average growth rate of 4.7 per cent in the first three quarters of 2020, compared to 7.3 per cent in the corresponding period in 2019 and 6.9 per cent in 2018.

According to the report, the satisfactory growth was rather contributed by various sectors particularly, construction, agriculture, transport and mining and quarrying.

The government of Tanzania did provide strategic measures to cushion the economy from the virus shocks, this included a deliberate decision of ruling out mandatory lockdowns.

Gross Domestic Product

The performance of the economy was driven by rather four sectors, construction, agriculture, transport, …

President Magufuli wins elections - The Exchange

Tanzania reelects Magufuli President

It is five more years for Tanzania’s incumbent president John Pombe Magufuli after he was announced the winner of the 2020 elections last night.

Just a few minutes after the clock ticked 10 PM the Tanzania National Electoral Commission (NEC) Chairman Semistocles Kaijage announced Magufuli’s reelection.

According to NEC, the president-elect racked in 12.5 million votes of the 15 million people that voted (20 million registered to vote).

With the 85 % popularity vote not only does Magufuli take the top office again but his ruling party CCM also takes a historic position after knocking down all of the opposition strong holds.

Two of the top opposition leaders Tundu Lissu and Freeman Mboye all lost their parliament seats along with another outspoken opposition leader Zitto Kabwe.

In fact CCM has taken over 194 seats (this figure maybe higher) in the 393 member parliament,

As a United …

Armadale Capital secures Chinese buyers of Tanzania's graphite

Armadale Capital, a London Stock Exchange’s AIM-listed investment company focussed on resource projects in Africa has secured an MOU with a China-based technology company CoolRU Information Technology for 5,000tpa of graphite concentrate produced at Tanzania’s Mahenge Liandu over an initial five-year period.

Armadale’s wholly-owned Mahenge Liandu Graphite Project is located in a highly prospective region, with a high-grade JORC compliant indicated and inferred mineral resource estimate announced February 2018 – 51.1Mt at 9.3% TGC. This includes 38.7Mt Indicted at 9.3% and 12.4Mt at 9.1% TGC, making it one of the largest high-grade resources in Tanzania.

Armadale acquired a 100% interest Mahenge Liandu in July 2016.

CoolRU was established in 2006 and is registered in WangJing Science Park in Beijing China. It is working closely with Geek+, the world’s leading provider of advanced robotics and AI technologies, to offer truly comprehensive intelligent logistics solutions to customers.

CoolRU is developing various applications …

For over 20 years, Acacia and its forerunner mining companies including African Barrick Gold, Barrick Gold, Placer Dome, Pangea Minerals and Afrika Mashariki have been operating in Tanzania in three gold mines, Bulyanhulu, Buzwagi and North Mara, found in the north-west region of Tanzania.

Acacia-Tanzania’s largest gold producer was recently cleared by the Magufuli government and resumed its metal concentrates exportation after a series of regulations led by The Mining Commission of Tanzania Ministry of Minerals that impeded the export of the mineral.

In a press release published by Acacia on 15th August, export permits are now received by Acacia that noted to have missed 30 percent of sales since the ban went live.

Despite the latter, Acacia and Tanzania could mutually benefit form the mining industry which has grown by 10 percent in the first quarter, according to Tanzania’s National Bureau of Statistics (NBS) 2019 first quarter highlights.…